CORPORATIONS LIE

Leading Companies Contradict Own Actions on Climate Science, Policy; Half of Reviewed Companies Misrepresented Climate Science Despite Publicly Expressing Concerns

May 30, 2012 (Union of Concerned Scientists)

“Many of the country’s leading companies have taken contradictory actions when it comes to climate change science while pumping a tremendous amount of resources into influencing the discussion, according to [A Climate of Corporate Control; How Corporations Have Influenced the U.S. Dialogue on Climate Science and Policy] by the Union of Concerned Scientists (UCS).

“The science advocacy group examined 28 companies in the S&P 500 that participated in climate policy debates over the past several years. All of them publicly expressed concern about climate change or a commitment to reducing emissions through websites and public statements, but half (14) also misrepresented climate science in their public communications. Many more contributed to the spread of misinformation about climate science in less direct ways, such as through political contributions, trade group memberships, and think tank funding…”

“Utilizing an array of publicly available data, the report systematically examines how corporate influence fosters confusion on climate change. The analysis found that some American companies, including NRG Energy, Inc., NIKE, Inc. and AES Corporation, accept the findings of climate science and have taken actions in support of science-based policy. Other corporations, including Peabody Energy Corporation, Valero Energy Corporation, and FMC Corporation, have worked aggressively to undermine climate policies and have misrepresented climate science…

“Several companies stand out for taking contradictory actions on climate change. Caterpillar Inc…[and] ConocoPhillips [are examples]…[C]ompanies also utilized their considerable financial resources to oppose climate policy. Lobbying expenditures for energy sector companies increased by 92 percent from 2007 to 2009, when climate change bills were actively debated in Congress…Valero Energy Corporation donated more than $4 million to the Yes on Prop 23 campaign, which sought to undermine California’s climate change law…[S]imple steps that would allow the public and policymakers to better hold companies accountable…[are] expanded reporting requirements to the Securities and Exchange Commission and passage of the DISCLOSE Act, which would require corporations to share more information about their political spending…”

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