Chevron

By Katt Ramos, et. al. - Maya Media, May 28, 2023

By James Tapper - The Guardian, May 14, 2023

People investing their pensions in funds that claim green credentials are being warned they may actually be backing the world’s largest oil and gas companies.

Carbon Tracker Initiative said that asset managers have invested $376bn (£295bn) in oil and gas companies, despite publicly pledging to back efforts to limit global temperature rises to 1.5C. The environmental thinktank based in London and New York found that more than 160 funds with a green label held $4.6bn in 15 companies including ExxonMobil, Chevron and TotalEnergies.

It also found that 25 members of the Net Zero Asset Managers initiative had invested in those companies and some had increased their holdings in 2022. NZAM said its international initiative started two years ago and investors needed time to change their strategies.

The warning comes as the UK’s Financial Conduct Authority prepares to publish anti-greenwashing rules that are intended to clean up how investment funds are labelled.

By Rachel Rose Jackson and Adrien Tofighi-Niaki - Corporate Accountability, May 2023

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.

Download a copy of this publication here (link).

By Sheila Thorne - Fossil Free California, April 15, 2023

CalPERS insists engagement is the most effective way to address climate change. In 2017 it co-founded Climate Action 100+, a coalition of 700 large investors who engage with 167 of the worst carbon-emitting companies in order to promote climate awareness in the company's governance and persuade them to disclose the company's climate risk and reduce emissions to net zero by 2050.

How effective has it been?

An evaluation of the impact of CalPERS climate engagements authored by Dr. Clair Brown, Professor of Economics at U.C. Berkeley, profiles 10 major oil companies with which CalPERS engages. It shows that only five of the ten have set emissions targets of net zero by 2050, and none of them have set short or medium term emission reduction goals. There are no consequences for these failures. A review of the 2022 proxy season along with past votes shows that CalPERS usually continues to support directors regardless of a company's failure to make progress in reducing emissions.

CalPERS' own "Addressing Climate Change Report" ( June 2020) admitted that only 9% of companies in the Climate Action 100+ group had targets in line with the Paris Agreement goals and only 8% had lobbying efforts aligned with necessary climate action.

This report considered one of its "significant impacts of engagement" the fact that Shell announced targets for reductions every 3 to 5 years towards a goal of shrinking its net carbon by about half by 2050 and agreed to include its emissions across its supply and demand chains (Scopes 1,2, and 3). However, one half of net carbon emission by 2050 is hardly something to boast about. Worse, a Financial Times article (May 17, 2020) revealed a disclaimer at the end of Shells's announcement that it will NOT change its strategy or capital deployment plans in line with its announcement until society acts. Thus it is going ahead with a new project in Nigeria to produce 30 million tons of liquefied natural gas a year to meet with what it expects to be doubled demand by 2040. And, according to Carbon Brief, Shell's global energy vision "Sky 1.5" plans for continued use of oil, gas, and coal until the end of the century.

The CalPERS Report also claimed it an accomplishment of engagement that Chevron announced reduction goals for GHG intensity in production. However, Chevron at the same time announced plans to double its production in the Permian Basin over 5 years and expected 900,000 barrels by 2023; thus its overall emissions and especially Scope 3 emissions could only rise.

By Ted Franklin - Common Dreams, April 4, 2023

As it hits its 10th year, the divestment movement claims many moral victories, yet fossil fuel companies keep booming and carbon keeps rising. Divestment fails to turn off the taps.

"After a decade of action, we are making a difference in the fight against climate change,"proclaims DivestInvest, the global divestment network. Dozens of leading climate organizations from 350.org to the World Council of Churches have enlisted as core partners or endorsers of DivestInvest.

According to DivestInvest's website, 1,585 institutions have publicly committed to "at least some form" of fossil fuel divestment, representing an enormous $39.2 trillion of assets under management.

"That's as if the two biggest economies in the world, the United States and China, combined, chose to divest from fossil fuels," the site goes on.

DivestInvest's 2021 glossy prospectus intimates that, thanks to divestment, the fossil fuel industry has begun to collapse. At the very least, oil and gas moguls should be trembling with fear that divestment activists will soon force them to close their spigots and relinquish their financial and political power.

If only this were true.

The balance sheets of the fossil fuel companies say otherwise. Instead of the industry tailspin portrayed in DivestInvest's report, the fossil fuel giants are awash in record profits. In 2021, The Hillreports, "the four largest oil and gas companies made over $75 billion in profits, returned billions to their shareholders through record dividends and share buybacks, and handed out millions in compensation to their chief executive officers."

By Clifford Krauss - New York Times, February 27, 2023

Solar, wind, geothermal, battery and other alternative-energy businesses are adding workers from fossil fuel companies, where employment has fallen.

Emma McConville was thrilled when she landed a job as a geologist at Exxon Mobil in 2017. She was assigned to work on one of the company’s most exciting and lucrative projects, a giant oil field off Guyana.

But after oil prices collapsed during the pandemic, she was laid off on a video call at the end of 2020. “I probably blacked out halfway,” Ms. McConville recalled.

Her shock was short-lived. Just four months later, she landed a job with Fervo, a young Houston company that aims to tap geothermal energy under the Earth’s surface. Today she manages the design of two Fervo projects in Nevada and Utah, and earns more than she did at Exxon.

“Covid allowed me to pivot,” she said. “Covid was an impetus for renewables, not just for me but for many of my colleagues.”

Oil and gas companies laid off roughly 160,000 workers in 2020, and they maintained tight budgets and hired cautiously over the last two years. But many renewable businesses expanded rapidly after the early shock of the pandemic faded, snapping up geologists, engineers and other workers from the likes of Exxon and Chevron. Half of Fervo’s 38 employees come from fossil fuel companies, including BP, Hess and Chesapeake Energy.

Executives and workers in energy hubs in Houston, Dallas and other places say steady streams of people are moving from fossil fuel to renewable energy jobs. It’s hard to track such movements in employment statistics, but the overall numbers suggest such career moves are becoming more common. Oil, gas and coal employment has not recovered to its prepandemic levels. But the number of jobs in renewable energy, including solar, wind, geothermal and battery businesses, is rising.

By Ted Goldberg - KQED, February 5, 2023

Chevron has fired five workers who went on strike at the oil giant’s Richmond refinery last spring, according to their union. The apparent termination of United Steelworkers Local 5 employees at one of the West Coast’s major oil refining facilities prompted the union to file complaints with federal labor regulators.

The workers Chevron fired — two during the walkout and three in the months that followed — were mostly safety operators at the refinery who played leadership roles in the strike, according to union president Tracy Scott.

The firings “were unjust,” Scott said.

One of those fired was B.K. White, a top union negotiator who became the face of the labor action and had worked at the refinery for nearly three decades.

“You could just tell it was retaliatory or punitive in nature,” said White, vice president of USW Local 5. “It appears there’s a concerted effort to break the union.”

In a complaint filed with the National Labor Relations Board, the union alleges that Chevron ordered its members to train contractors to do union-covered work and then punished them for their labor activities. The NLRB has deferred action on the Local 5's unfair labor practice charges pending arbitration of a grievance the union had already filed with the company.

News of the firings comes months after a 10-week-long strike by hundreds of USW workers. It was the first walkout at Chevron’s Richmond refinery in 40 years.

The marathon labor action ended up delivering only modest gains to workers. The contract, approved by a slim majority of union members, gave a small bump in pay and medical benefits to refinery employees who went without paychecks for more than two months.

By Steve Morse - Labor Rise for Climate, Jobs, Justice, and Peace, November 2022

We who work and have worked with our hands, bodies and minds to build, manufacture and repair are committed to our own well-being and that of our families. Our unions have often fought successfully toward this goal, delivering on wages and pensions.

It’s time to face another commitment we owe our families and the next generation: to work for a healthy planet and for justice.

The Climate Crisis is now. We know about the melting glaciers, rising sea levels, droughts, floods, heat waves, fires and hurricanes. Youth, including our own children and grandchildren, are ready to fight for a livable planet, and many are already doing so. Our unions must stand with them.

Images and words by David Bacon - Sierra, August 31, 2022

In 2020, Washington State passed the Climate Commitment Act, and when it went into effect on January 1, 2022, Rosalinda Guillen was appointed to its Environmental Justice Council. The appointment recognized her role as one of Washington's leading advocates for farmworkers and rural communities.

Guillen directs Community2Community Development, a women-led group encouraging farmworker cooperatives and defending labor rights. She has a long history as a farm labor organizer and in 2013 helped form a new independent union for farmworkers, Familias Unidas por la Justicia. Guillen agreed to serve on the council but with reservations. She feared that the law's implementation would be dominated by some of the state's most powerful industries: fossil fuels and agriculture. 

"Its market-based approach focuses too much on offsets,” she says. “Allowing polluting corporations to pay to continue to pollute is a backward step in achieving equity for rural people living in poverty for generations." Just as important to her, however, is that while the law provides funding for projects in pollution-impacted communities, it doesn't look at the needs of workers displaced by the changes that will occur as the production and use of fossil fuels is reduced.

The impact of that reduction won't affect just workers in oil refineries but farmworkers as well. "The ag industry is part of the problem, not just the fossil fuel industry," Guillen says. "They're tied together. Ag's monocrop system impacts the ecological balance through the use of pesticides, the pollution of rivers and clearing forests. As farmworkers, this law has everything to do with our miserable wages, our insecure jobs, and even how long we'll live. The average farmworker only lives to 49 years old, and displacement will make peoples' lives even shorter." 

The key to building working-class support for reducing carbon emissions, she believes, is a commitment from political leaders and the environmental and labor movements that working-class communities will not be made to pay for the transition to a carbon-free economy with job losses and increased poverty. But the difficulties in building that alliance and gaining such a commitment were evident in the defeat of an earlier Washington State initiative, and the fact that the Climate Commitment Act lacked the protections that initiative sought to put in place. 

In Washington State fields, at California oil refineries, and amid local campaigns around the country, this is the big strategic question in coalition building between the labor and environmental movements: Who will pay the cost of transitioning to a green economy? 

Some workers and unions see the danger of climate change as a remote problem, compared with the immediate loss of jobs and wages. Others believe that climate change is an urgent crisis and that government policy should protect jobs and wages as a transition to a fossil-fuel-free economy takes place. Many environmental justice groups also believe that working-class communities, especially communities of color, should not have to shoulder the cost of a crisis they did not create. And in the background, always, are efforts by industry to minimize the danger of climate change and avoid paying the cost of stopping it. 

By Peter Mencini, et. al. - Amazon Watch, May 31, 2023