How Many Companies at Cop29 Support Climate Policies Aligned with Science

Only 17% of companies attending COP29 are advocating for climate policies aligned with science (as defined by the IPCC pathways for the 1.5 °C limit). This is what emerges from the analysis of the NGO Influence Map of the list of corporate participants at COP29.

Furthermore, a further 21% of participating companies actively promote policy paths that risk entrenching warming scenarios well above the international targets set by the 2015 Paris Agreement. The remaining 62% of companies present at COP29 show mixed positions in their climate policy advocacy, with only partial alignment to these standards.

Finally, many companies are not taking a stand: 45% of participating companies are not strategically engaged at the government level on real climate policies for the economy, highlighting a significant gap in corporate leadership in this area.

The analysis was performed by cross-referencing the list of registered participants, made public by the UNFCCC, with the InfluenceMap database on corporate lobbying, and it reveals the landscape of corporate climate policies at COP29. The results highlight a heated battle between fossil fuel companies, opposed to science-based policies, and a growing list of highly positive and strategically engaged companies, defined as “climate policy leaders” (see InfluenceMap’s Corporate Climate Policy Engagement Leaders 2024 ).

Big Oil’s influence on Cop29 remains strong

The influence of fossil fuel interests on the UNFCCC discussions is again a hot topic at COP29. InfluenceMap analysis suggests that while the proportion of participating companies with a science-aligned policy commitment has nearly doubled (from 10% in 2023 to 20% in 2024), a powerful minority of fossil fuel value chain companies and industry associations remain well represented . These stakeholders could use their participation to hinder climate progress from within the event.

Companies with more than 10 delegates at COP29 and a negative commitment include ExxonMobil, Gazprom, Petrobras and Lukoil. Other negative companies with smaller delegations include Chevron, Eni, BMW, JBS, JFE Steel, Nippon Steel Corporation and Toyota.

In contrast, companies with more than 10 delegates and positive engagement include Alphabet, SAP, Schneider Electric and SSE. Other positive companies with smaller delegations include Unilever, Trane Technologies, Acciona, Vestas, Microsoft and Iberdrola.

The role of industrial associations

Industry associations, also widely represented at COP29, play a crucial role in the national climate policy and regulatory process. They often prove more strategic and effective than individual companies. InfluenceMap analysis indicates that a third of industry associations present at COP29 , covered by the LobbyMap database, oppose climate policies aligned with science. Less than a sixth of the associations present support such policies. This reflects a tendency for associations to represent “lowest common denominator” positions, often giving voice to the most oppositional members over the most progressive ones.

Among the most influential and negative industry associations present at COP29 were the US Chamber of Commerce, the American Petroleum Institute (API), the Canadian Association of Petroleum Producers, the Japan Iron and Steel Federation (JISF) and the Federation of German Industries (BDI).

On the positive side, there are organizations that are trying to counteract the influence of the fossil fuel supply chain. Although their presence and influence are still limited, they are gaining ground. These include the renewable energy industry associations, such as the Solar Energy Industries Association (USA), Smart Energy Council (Australia), American Clean Power Association (USA), WindEurope and SolarPower Europe.

“Once again, the COP is being targeted by negative actors intent on maintaining the status quo for themselves and their industries. InfluenceMap found that only 17% of companies at COP29 align their climate lobbying with science-based pathways to meet the goals of the Paris Agreement. Furthermore,” notes Ed Collins, Director of LobbyMap, InfluenceMap “45% of companies present are not actively engaged in climate policy, despite the urgency of the challenge and the enormous opportunities for business leaders in this space.

To counter these well-funded players, we need to seriously address the issue of transparency in lobbying at these multinational events and ensure that companies make this a priority.

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(Featured image by Markus Spiske via Unsplash)

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