US Chamber of Commerce
Fossil Fuel Companies
We identified the roughly 300 largest listed coal, oil, and gas production companies based on a combination of market capitalization, fossil fuel production and reserves and sales. We further estimated, based on direct disclosure or other means, the proportion of sales in each of these due to coal, oil, and gas. These proportion metrics are important in our system for attributing equity value due to coal, oil, and gas within shareholder's portfolios. A trend over the last decade in the sector is for companies to engage in only coal, oil/gas production with peripheral activities hived off due to market pressure. The key exception to this, of course, is the large integrated oil/gas majors which engage in downstream, retail and trading activities as well as upstream.
Asset Owner
An Asset Owner in our system is an entity which is entrusted with the authority to manage financial assets on behalf of individuals, either through their savings, premiums, pension, tax or charitable contributions. We further categories Asset Owners into Pension Funds, Non-Profits, Government Funds, Unions, Insurance Companies. Asset Owners can be highly influential in sustainable finance as they often have a direct mandate to consider long-term, systemic risk issues in the portfolio and can drive change through the finance system.
Time weighting of evidence, June 2018
Evidence pieces in the past will be de-emphasized in our system by application of weightings that favour the most recent evidence pieces. This ensures we capture current rather than past behaviour and will allow the measurement of progress over time of companies and trade groups.
- Details of Organization Score
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What do the 0,1,2 and NSs, NAs mean?
Each cell in the organization's matrix presents a chance for us to assess each data source against our column of climate change policy queries. We score from -2 to 2, with negative scores representing evidence of obstructive influence. "NA" means "not applicable" and "NS" means "not scored" - that is we did not find any evidence either way. In both cases, the cell's weighting is re-distributed over others. Red and blue cells represent highly interesting negative or positive influence respectively. Full details can be found here.
| QUESTIONS | SOURCES |
Main Web Site
We search the main organizational Web site of the company and its direct links to major affiliates and attached documents (e.g. the CSR report). |
Social Media
We search other media and sites funded or controlled by the organization, such as social media (Twitter, Facebook) and direct advertising campaigns of the organization. |
CDP Responses
We assess and score responses to three of the 2014 CDP's political influence questions (currently these are not numerically scored by the CDP process). |
Legislative Consultations
Legislative Consultation documents from official government sources. As of July 2015, we consider relevant information originating directly from the US Government and the European Commission other key regions e.g. Australia and Japan. |
Media Reports
Here we search in a consistent manner (the organization name and relevant query search terms) a set of Web sites of representing reputable news or data aggregations. Supported by targeted searches of proprietary databases. |
CEO Messaging
Here we search in a consistent manner (the CEO/Chairman, organization name and relevant query search terms) a set of Web sites of representing reputable news or data aggregations. Supported by targeted searches of proprietary databases. |
Financial Disclosures
We search 10-K and 20-F SEC filings where available, and non US equivalents where not. We search earnings comments via Edgar Online and Fair Disclosure Wire. |
EU Register
Information provided by to the voluntary EU Transparency Register. |
|---|---|---|---|---|---|---|---|---|---|
|
Climate Science Transparency
Is the organisation being transparent about climate change science? |
0 | -1 | NA | NS | 0 | NS | NA | NA | |
|
Climate Science Stance
Is the organization supporting the science of climate change and the response demanded (as per the IPCC) |
-1 | 0 | NA | NS | NS | -1 | NA | NA | |
|
Need for Climate Regulation
To what extent does the organization express the need for climate policy and regulations in general. |
-1 | -1 | NA | -2 | -2 | -2 | NA | NA | |
|
UN Treaty Support
Is the organization supporting a global treaty on climate change and the UN FCCC process? |
-1 | -1 | NA | -2 | -2 | -2 | NA | NA | |
|
Transparency on Legislation
Is the organisation being transparent about their positions on climate change legislation and policy, including CEO statements. |
1 | NA | NA | NA | NA | NA | NA | NS | |
|
Carbon Tax
Is the organisation supporting policy and legislative measures to address climate change: carbon tax. |
NS | -1 | NA | -2 | -2 | NS | NA | NA | |
|
Emissions Trading
Is the organisation supporting policy and legislative measures to address climate change: emissions trading. |
-2 | -1 | NA | NS | -2 | NS | NA | NA | |
|
Energy Efficiency Standards
Is the organisation supporting policy and legislative measures to address climate change: Energy efficiency standards and targets |
0 | 0 | NA | 0 | 1 | NS | NA | NA | |
|
Renewable Energy Legislation
Is the organisation supporting policy and legislative measures to address climate change: Renewable energy targets, subsidies and legislation. |
0 | -1 | NA | -2 | 0 | NS | NA | NA | |
|
Energy Policy and Mix
Is the organisation supporting policy and legislative measures to address climate change: energy policy and the energy mix. We refer to IPCC thinking on renewables, coal, oil and gas. |
-1 | -2 | NA | -1 | -1 | -2 | NA | NA | |
|
GHG Emission Standards
Is the organisation supporting policy and legislative measures to address climate change: GHG emission standards and targets. |
-1 | -1 | NA | -2 | -2 | -2 | NA | NA | |
|
Disclosure on Relationships
The Caring for Climate “inventory” of climate change policy influences: Are companies being transparent about their business associations which may impact climate debate and policy |
0 | NA | NA | NA | NA | NA | NA | NS | |
|
Climate Lobbying Governance
Does the company have strong policy to manage its political activities related to climate change? |
NS | NS | NS | NS | NS | NS | NS | NS | |
The US Chamber of Commerce (US Chamber) is active and persistent in its opposition to US climate change policy. Despite recognising that climate change is a “serious challenge”, throughout 2017 the US Chamber, particularly through President Tom Donahue, has vocally supported the roll back of numerous strands of Obama-era climate regulation in the US. In June 2017, US Chamber sponsored research was used by the Trump Administration to justify pulling out of the Paris Agreement. The Chamber has supported the repeal of the Clean Power Plan, having fought the rule with legal action throughout 2015-2016. In 2016, the organisation also opposed a proposed carbon tax. In 2017, the US Chamber directly called on policy makers to repeal methane emission regulation and has supported a review on vehicle fuel economy standards (which may lower these standards). Although in October 2017 the Chamber stated that it “has vigorously supported” renewable energy advancement, its website suggests continued opposition to renewable energy policy incentives, including in 2016, opposition to renewable provisions in the Clean Power Plan. The US Chamber continues to actively promote measures that will embed a high GHG emission intensive US energy mix; for example, between 2015-2017 it has continuously promoted legislative measures to aid increased offshore, Arctic, and non-conventional oil and gas production and, in 2017, continued to advocate for coal in the US power generation mix.