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Report
National Oil Companies and Climate Change: Insights for Advocates
By Alexandra Gillies, Patrick R.P. Heller, Paasha Mahdavi, David Manley, Valerie Marcel, Lourdes Melgar, Francisco Monaldi, Greg Muttitt, Angela Picciariello, and Joachim Roth (IISD & NRGI) · 2021
National oil companies are the “hidden half” of the global oil industry.
Climate and development advocates who seek to reduce fossil fuel supply and promote sustainable economies must engage with these state-owned companies, many of which are based in countries with high levels of poverty. National oil companies are central to their countries’ economic systems, and national governments and other domestic actors exert the most influence on them.
Five ideas for engagement:
- National oil companies are national. Engaging with them means engaging with the ambitions of their countries' governments and citizens.
- Interests cloud perception of risks. National oil companies and their governments don't fully appreciate the economic risks associated with their investments.
- Economic development matters. National oil companies won’t change without public pressure and international support to diversify their countries’ economies.
