Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Lukoil appears to have limited engagement with specific climate-related policies in 2022 to 2024. The company continues to support a continued role for oil and gas in the energy mix, and retains membership to a number of industry associations that advocate for a continued role for fossil fuels into the future.
Top-line Messaging on Climate Policy: Lukoil appeared to have limited top-line communications on climate policy in 2022 to 2024. Lukoil recognized some of the links between human activities, methane emissions and climate change impacts in its 2022 Sustainability Report, published in July 2023. However, the company did not support GHG emissions reductions in line with the IPCC in its 2021 Sustainability Report, published in July 2022, and in its 2023 annual report, published in April 2024, the company appeared to use the Paris Agreement as a benchmark for its own emissions reductions targets, but did not clearly support the climate deal.
Engagement with Climate-related Regulations: Lukoil appears to have limited transparent engagement with specific regulations in recent years. The company has stated in its 2023 Sustainability Report, published in July 2024, that it has engaged with policymakers on issues in Russia, but the company does not give details of its engagement nor the outcomes sought by the company.
Positioning on Energy Transition: Lukoil appears to have limited engagement on the transition of the energy mix in 2022-2024 but appears to support a continued role for fossil fuels. In its 2022 Sustainability Report, published in July 2023, the company appeared to support the new production of oil and gas. In its 2023 Sustainability Report, published in July 2024, the company again continued its support for the role of oil and gas in the energy mix. In a Lukoil earnings call in March 2021, a company representative stated that fossil fuels will not be fully discontinued and that new investments are needed in the oil industry, and also emphasized the risk of phasing-out fossil fuels in the short term. Lukoil CEO Vagit Alekperov also stated that the ambition to phase out fossil fuels is increasing the risk of price shocks and energy shortages in a December 2021 report.
Industry Association Governance: Lukoil does not appear to have disclosed a list of industry association memberships, and the company has not published a review of its alignment with industry associations on climate policy. Lukoil is a member FuelsEurope and Asociación Mexicana de Empresas de Hidrocarburos (AMEXHI), both of which appear to advocate a continued role for fossil fuels.
Additional Note: Lukoil is headquartered in Russia, where InfluenceMap’s LobbyMap platform can currently only make a provisional assessment of corporate climate policy engagement, due to limited capability to access publicly available data on this issue. As it is possible that InfluenceMap is not yet able to fully capture evidence of Lukoil's climate policy engagement activities, these scores should be considered provisional at this time.
This summary was last updated in Q2 2025.