ConocoPhillips

InfluenceMap Score
D-
Performance Band
46%
Organisation Score
37%
Relationship Score
Sector:
Energy
Head​quarters:
Houston, United States
Official Web Site:
Wikipedia:

Climate Lobbying Overview: ConocoPhillips has improved its top-line communications on climate in recent years, however, the company has continued lobbying to promote the role of oil and gas in the energy mix. Furthermore, the company retains a network of high-level memberships to industry associations that actively oppose climate policy.

Top-line Messaging on Climate Policy: ConocoPhillips’ messaging on the need for climate action ranges from mixed to negative positions. The company’s corporate website, when accessed in August 2022, supported the goal of limiting global temperature increase to below 2 degree Celsius. ConocoPhillips supports the goals of the Paris Agreement, as revealed in its website when accessed in August 2022.

ConocoPhillips’ support for climate regulation is limited to support for a less-ambitious carbon pricing policy. In the 2021 Sustainability Report, published in June 2022, the company stated support for a carbon pricing policy that placed several caveats that would weaken the policy’s ambition, including opposition to all other forms of climate regulations. In the company’s Lobbying Disclose Act filing for Quarter 2 in US in 2022, the company revealed that it had advocated for policy support for the implementation of the Baker Shultz Carbon Dividends Plan, proposed by the Climate Leadership Council, as aligned with ConocoPhillips’ position. However, this plan too proposes a model based on “significant regulatory simplification” that would remove all other forms of climate policies.

Engagement with Climate-Related Regulations: ConocoPhillips has limited transparency on its corporate website regarding its engagement with climate-related regulations, and where it has engaged this appears to be negative. In its 2021 Sustainability report from June 2022, ConocoPhillips’ stated the company supported a federal carbon tax but that this should replace all other regulations to reduce GHG emissions. In addition, ConocoPhillips’ support for carbon taxes comes with numerous caveats regarding the implementation of a carbon tax itself. It is also notable that in 2021, ConocoPhillips opposed the EU Carbon Border Adjustment Mechanism, as disclosed in its 2021 CDP response. While ConocoPhillips appears to be engaged with US policymakers on methane tax in 2022, it has not disclosed its position on it.

ConocoPhillips does not appear to support ambitious methane regulations. In December 2021, on its corporate website, the company supported weaker federal methane regulations in the US that placed emphasis on voluntary efforts. In the company’s 2021 CDP Climate Change Response, ConocoPhillips disclosed support for methane regulations for oil and gas under the US Clean Air Act. ConocoPhillips had also presented its comments to the US Environmental Protection Agency (EPA) in advance of the EPA’s proposed methane standards in October 2021. However, the presentation has restricted access, and it is therefore not possible to assess ConocoPhillips’ position on the EPA’s proposed methane regulations.

Positioning on Energy Transition: ConocoPhillips does not support the transition to a clean energy mix. Numerous sources of evidence analyzed by InfluenceMap shows that the company continues to advocate in favor of fossil fuels. A report by Inside Climate News in February 2022 revealed that the company lobbied the Bureau of Land Management in the US in favor of a new oil project. Further, the company’s 2021 CDP Climate Change Response disclosed that the company would oppose the EU Taxonomy for Sustainability if it excluded fossil gas. ConocoPhillips is also directly engaged in Canada on energy policy, as revealed through the federal and Alberta lobbyist registries; however, the company has not disclosed its positions. ConocoPhillips has an advocacy website called 'Power in Cooperation' through which, as of August 2022, it promotes additional investment into oil and gas infrastructure and the increased use of gas while stating that it is “good for the environment”.

There is some evidence regarding ConocoPhillips’ engagement on specific measures for decarbonization. In Q1 and Q2 LDA lobbying reports in 2022, the company stated that it had advocated for expanded carbon capture, utilization and storage credits in the Build Back Better Act, without specifying how CCUS will fit into the transition to a net-zero emissions economy. The company has also disclosed that it engaged with Canadian policymakers on CCUS implementation without specifying its positions.

Industry Association Governance: ConocoPhillips has disclosed a list of industry associations it holds memberships to on the corporate website. However, this list does not disclose if the company is aligned or the climate policy stances held by each industry association. The company retains membership to several powerful industry associations that actively oppose climate regulation in the US. These include the American Petroleum Institute, Western States Petroleum Association, [123 US Chamber of Commerce, Natural Gas Supply Association, National Association of Manufacturers, International Oil & Gas Producers Association, and Business Roundtable. On its 2021 'Association Engagement' page, ConocoPhillips reviewed its memberships and stated that the company was "aligned" or "mostly aligned" on climate change positions with all these groups. However, as of August 2022, ConocoPhillips no longer states the trade associations' public positions on climate policy in the 'Association Engagement' page.

A detailed assessment of the company's corporate review on climate policy engagement can be found on InfluenceMap's CA100+ Investor Hub here.

QUERIES
DATA SOURCES
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Strength of Relationship
STRONG
 
 
 
 
 
 
 
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28%
 
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29%
 
34%
 
34%
 
42%
 
42%
 
47%
 
47%
 
29%
 
29%
 
23%
 
23%
 
38%
 
38%
 
34%
 
34%
 
41%
 
41%
 
31%
 
31%
 
51%
 
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57%
 
57%
 
52%
 
52%

How to Read our Relationship Score Map

In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.