Will you sign the petition demanding that Congress and federal financial regulators investigate corporate greenwashing?
Over 1500 companies—including oil giants like BP that have amassed fortunes from fossil fuel extraction—have pledged to bring their climate change emissions down to “net zero” by 2050.1
But they’ve done virtually nothing to disclose their plans to get there. And “net zero” is a deceptive term; as long as companies proclaim to someday remove the same amount of emissions they put out, they can continue their business as usual.
After all, it’s through deadly environmental extraction that these companies are able to turn huge profits. Why would they give that up?
These companies reek of “greenwashing”—the strategic marketing tactic of rebranding as “environmentally friendly” while continuing to scorch the earth. That’s why we need to call on Congress and federal regulators to make sure these companies can’t greenwash their way out of accountability.
Sign the petition: Stop greenwashing—demand that Congress and federal financial regulators hold corporations accountable to meeting standardized climate change regulations!
It’s a critical moment to push federal financial regulators to hold these companies accountable to actually changing their extractive business practices. Currently, there are no consistent disclosure requirements by which “green” companies need to abide.2
Investing in companies that fall under the umbrella of ESG—environmental, social, and governance—is growing increasingly popular, accounting for one-third of the funds managed by financial institutions.
But hypocrisy abounds. Blackrock, the world’s largest asset management firm, has pledged to achieve “net-zero” emissions, but still holds $85 billion in coal investments.3
Only 1% of those who sit on corporate boards overseeing Fortune 100 companies have any sort of climate change expertise.4 Congress and federal regulators need to mandate that big companies pledging “green” futures have some system of reporting their plans. Doing so would promote accountability, allow the public to monitor these companies’ performance, and push companies to more rigorous impact mitigation plans.
Sign the petition: Tell Congress and regulators to investigate corporate greenwashing!
Sources:
1. New York Times, "BP Pledges to Cut Emissions to Zero but Offers Few Details," February 12, 2020.
2. The Hill, "The truth behind companies' 'net zero' climate commitments," April 9, 2021.
3. Ibid.
4. The Guardian, "BlackRock holds $85 billion in coal despite pledge to sell fossil fuel shares," January 13, 2021.