◼ This lobbying strategy is complimented by an annual $195M investment by the five companies in often misleading branding campaigns aimed at convincing stakeholders they are on board with ambitious action on climate. Examples include ExxonMobil’s ongoing promotion of its algaebiofuels research and the jointly funded Oil and Gas Climate Initiative, whose messaging deemphasizes climate regulation while stressing voluntary action and low carbon investments. In fact, company disclosures show such investments will make around 3% of the oil projected capital investments by the oil majors. Exxon’s goal of reaching 10,000 barrels of biofuel a day by 2025 would still only equate to 0.2% of its current refinery capacity, essentially a rounding error. ◼ The research highlights the outsourcing of the most direct, negative and egregious climate lobbying to trade groups such as the American Petroleum Institute which in 2018 successfully campaigned to deregulate oil and gas development, including a rollback of methane standards. Oil and gas funded groups also appear to have coordinated efforts in California, at the US Federal level and in the European Union to oppose policy on the electrification of the transport sector. ◼ This research will feed into efforts by key stakeholders to bring the oil and gas sector into line with the urgency of action on climate change. These include the global investment community which in 2017 launched the Climate Action 100+ program of engagement with the 100 key corporations on climate. The five oil majors feature prominently in this list. It will also inform various emerging legal cases globally, for example in the United States and the Netherlands to hold oil majors accountable for their past and ongoing climate strategies. ◼ Despite apparent awareness of these growing pressures from stakeholders, rather than changing course the response from oil major CEOs has been to pledge a ramp up in climate-positive branding, as articulated at this year’s World Economic Forum in Davos. This has been accompanied by a surge in fossil fuel exploration capital spend in 2018 as the oil price rebounds. References and sources used in this report are contained within hyperlinks throughout, including to InfluenceMap’s online database of climate lobbying. Registration may be required for some areas. Note: $1M=$1 million, Bn=billion, Tn=trillion 3 InfluenceMap March 2019