This exposé brings into question Chevron’s proclaimed climate action and ‘green’ image. Analysis of the activities associated with Chevron’s ‘net zero’ climate action plan raises significant concerns about whether its ‘climate action’ is displacing the needed emissions reductions to avoid climate catastrophe, spurring harm to communities and ecosystems, and further hindering the likelihood of meaningful climate action globally.
Key findings this research yielded:
- More than 90% of the carbon offsets Chevron has retired through the voluntary carbon market to ‘cancel out’ its emissions seem to be worthless— presumed ‘junk’ until proven otherwise.
- The technological ‘low carbon’ schemes appear to be failing to capture the emissions promised, in some cases missing targets by as much as 50%.
- A major proportion of the schemes it’s investing in as part of its ‘net zero’ plan are linked to claims of local community abuse, environmental degradation, and/or may even be fueling further emissions. Almost all of the harm claimed to have been inflicted is on communities in the Global South.
- Chevron’s ‘net zero’ pledge—even if fully implemented to the greatest effect without causing harm—overlooks 90% of the total emissions associated with its business practices.
- Chevron is ignoring the scientifically founded need for a fossil fuel phase out, projecting emissions for 2022-2025 equivalent to that of 10 European countries during a similar period.
- It invests millions annually to manipulate the political will for climate action, seeking to shape climate policy to its will.
It’s imperative that shareholders, policymakers, and the public see Chevron’s green claims for what they are—greenwashed destruction. As this exposé illustrates, Chevron appears to be continuing its legacy of preventing, not promoting, the legally binding regulations, the rapid deployment of real solutions and the fast track to Real Zero emissions that needs to happen to avert climate catastrophe.