Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Phillips 66 exhibits active policy engagement that is broadly misaligned with policy pathways for delivering the temperature goals of the Paris Agreement.
Top-line Messaging on Climate Policy: Phillips 66 has relatively limited top-line messaging on climate policy. In its 2025 Sustainability and People Report, Phillips 66 recognizes the links between human activity, methane emissions, and climate change impacts, and supports the goals of the Paris Agreement.
Engagement with Climate-Related Regulations: Phillips 66 shows relatively limited engagement with specific climate change policies. In its 2024 Sustainability Report, Phillips 66 discloses that it does not support more stringent requirements in the cap-and-trade program and the Low Carbon Fuel Standard in California, appearing to advocates for lower ambition.
Positioning on Energy Transition: Phillips 66 does not appear to clearly support the transition away from fossil fuels in line with IPCC recommendations. In its 2025 Sustainability and People Report, the company supported expanding ethanol blend sales without addressing associated climate or land-use concerns. It also supported an increase in renewables in the energy mix but with ambiguity around the pace and extent of this shift, and supported decarbonization of light-duty transportation without specifying a timeframe. The same report advocated for higher advanced renewable fuel obligations under the Federal Renewable Fuel Standard, without clarifying emissions reduction potential or acknowledging the need for biofuels to complement a renewables-only energy system.
More broadly, Phillips 66 continues to promote a role for fossil fuels in the energy mix. In its Q1 2025 Lobbying Disclosure Report, the company supported a continued role for oil in the energy mix. In a December 2024 corporate blog post, CEO Mark Lashier suggested that fossil gas will play a long-term role without placing clear conditions on CCS or methane abatement. Earlier, in a June 2024 blog post, Phillips 66 supported bioenergy but did not outline timelines for transition in line with IPCC pathways. In its 2024 Sustainability Report, the company referenced the Inflation Reduction Act's clean hydrogen tax credit without clearly endorsing it, though it did support EV tax credits. In the same report, Phillips 66 supported CCS in the power sector but again provided no clarity on deployment timelines. At CERAWeek in March 2023, a Phillips 66 executive suggested that high-emissions energy sources will remain necessary, emphasizing that the energy transition cannot occur without the oil and gas sector.
Industry Association Governance: Phillips 66 has disclosed a complete list of its industry association memberships in its 2025 Sustainability Report but without details on the groups’ positions and engagement activities. Multiple senior executives of Phillips 66, including CEO Mark Lashier, serve on the Executive Committee of the American Fuel & Petrochemical Manufacturers as well as several of the group’s committees. A Senior Executive at Phillips 66 serves on the Board of the US Chamber of Commerce. These industry associations remain actively opposed to numerous strands of climate change policy in the US, including implementation of the Inflation Reduction Act.
A detailed assessment of the company's corporate review on climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.
InfluenceMap collects and assesses evidence of corporate climate policy engagement on a weekly basis, depending on the availability of information from each specific data source (for more information see our methodology). While this analysis flows through to the company’s scores each week, the summary above is updated periodically. This summary was last updated in Q3 2025.