Oil Giants Invest $110 Billion In New Fossil Fuels After Spending $1 Billion On Green PR

Meanwhile, those firms are projected to spend just $3.6 billion on low-carbon investments, such as biofuels and renewables, according to a new analysis that Influence Map, a British nonprofit that analyzes corporate influence on climate policy, derived from industry data and numbers buried in company disclosures.

The reckless disparity comes just months after the United Nations warned that the world must rapidly phase out fossil fuel use over the next decade or face catastrophic global warming of at least 2.7 degrees Fahrenheit.

Exxon Mobil Corp., Royal Dutch Shell, Chevron, BP and Total together have spent more than $1 billion on public relations promoting green energy projects and lobbying on behalf of climate policy in the past three years, after virtually every nation on Earth agreed to cut emissions under the Paris Agreement.

The totals represent “significant efforts to maintain public support on climate while holding back binding policy,” the nonprofit group said in its report, published Thursday evening.

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