Big Oil Companies Prove their Climate Pledges Were Lies

WASHINGTON, D.C. — After major oil and gas corporations raked in all-time record profits in 2022, three of the world’s biggest climate polluters — ExxonMobil, BP, and Shell — announced that they are scaling back plans to reduce their carbon pollution. 

BP announced it was scaling back clean energy targets, Shell is cutting investments in renewables, and Exxon slashed funding for its heavily publicized algae biofuels work. 

Richard Wiles, president of the Center for Climate Integrity, released the following statement: 

“Once again, these megapolluters are making clear that they are the problem and will never be part of climate solutions. Big Oil companies’ much-touted climate pledges were never serious commitments — they were lies intended to provide PR cover for how these companies are driving us toward climate catastrophe. Instead of using their record profits to speed the clean energy transition, Big Oil is doing the opposite, doubling down on business plans that will continue to fuel the climate crisis. It’s more important than ever that public officials take action to hold them accountable.”