• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50

3

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50

3

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
EnvironmentCOP26

COP26 is ‘crawling with fossil fuel lobbyists,’ and they’re watering down negotiations, climate hawks warn

Sophie Mellor
By
Sophie Mellor
Sophie Mellor
Down Arrow Button Icon
Sophie Mellor
By
Sophie Mellor
Sophie Mellor
Down Arrow Button Icon
November 12, 2021, 10:57 AM ET

The single biggest delegation at the climate COP26 conference in Glasgow comes from the kingdom of Black Gold—the petroleum industry.

Amid the throngs of politicians, NGOs, clean-energy business leaders, and climate activists were at least 503 fossil fuel lobbyists representing the interests of some of the world’s biggest oil and gas giants. According to climate- and civil-society activists Global Witness, Corporate Europe Observatory, and Glasgow Calls Out Polluters, the oil and gas industry is the largest attendee at the summit, sending two dozen more people than the largest nation delegation.

With such a massive presence, the industry’s influence could be seen throughout the event. For example, the updated text of negotiations released today contained some softened language of the fossil fuel subsidy phaseout. That prompted Greenpeace International executive director Jennifer Morgan to remark, “The fingerprints of fossil fuel interests are still on the text.”

While lobbyists are free to mix and mingle with politicians and decision makers, some at the conference find their presence disheartening. Human rights activist and global ambassador for Africans Rising for Justice, Peace & Dignity Kumi Naidoo grumbled, “This process has been corrupted to its core.”

He added, “This is as absurd as Alcoholics Anonymous having a global conference, and the largest delegation is the alcohol industry.”

“Being a part of the solution”

Frank Macchiarola, senior vice president of policy, economics, and regulatory affairs at the American Petroleum Institute (API), the largest U.S. oil and gas trade association, called such criticisms unfair. “The oil and gas industry is committed to being part of the solution to addressing climate,” Macchiarola said.

He told Fortune that API had sent two delegates to the COP26 climate conference. Both attended as “observers”—such attendees do not have voting rights—and their mission was straightforward: to promote clean-energy innovations such as carbon capture storage (CCS) and hydrogen, both of which require the continued use of oil and gas.  

Macchiarola added that oil and gas play a meaningful part in a diverse energy portfolio and that fossil fuels will continue to be burned in the decades to come—“to 2050 and beyond,” an analysis that underscores the International Energy Association’s own forecasts.

As COP26 winds to a close, one big sticking point in negotiations is that of a $100 billion financing plan to mostly aid the least developed countries with their energy transition plans. The oil and gas firms have their own solution: to be a big energy supplier to developing countries—but doing it with fossil fuels.

“We are looking to advance clean technologies to work toward a low carbon future,” Macchiarola said more than once in a conversation with Fortune.

Distorting negotiations

“COP26 is being sold as the place to raise ambition, but it’s crawling with fossil fuel lobbyists whose only ambition is to stay in business,” said Pascoe Sabido, researcher and campaigner for Corporate Europe Observatory, an anti–lobbying campaign nonprofit. “Those trying to burn down the table should not have a seat at it.”

The number of lobbyists affiliated with companies like Shell, Exxon Mobil, and BP outnumber by a margin of two-to-one the official UN delegation for indigenous groups, and those from Puerto Rico, Myanmar, Haiti, Philippines, Mozambique, Bahamas, Bangladesh, and Pakistan—the eight countries worst affected by climate change in the past two decades.

The large number of oil and gas representatives even caught the attention of some of the summit’s biggest speakers.

“It is true, a lot of climate opposition comes from fossil fuel companies trying to make a buck,” former U.S. President Barack Obama noted at the event, “despite the green ads they run on TV.”

More must-read business news and analysis from Fortune:

  • From Delta to Southwest, the airlines in the best—and worst—shape going into a chaotic holiday season
  • How a risky bet on the Shiba Inu coin made this warehouse manager a millionaire
  • Patagonia doesn’t use the word ‘sustainable.’ Here’s why
  • Will monthly child tax credit payments continue in 2022? Their future rests on Biden’s Build Back Better bill
  • ‘I’m afraid we’re going to have a food crisis’: The energy crunch has made fertilizer too expensive to produce, says Yara CEO

Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.

About the Author
Sophie Mellor
By Sophie Mellor
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon

Latest in Environment

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Environment

w
Environmentclimate change
The asphalt industry has a heat problem — and cities are running out of patience
By Aya Diab, Alexa St. John and The Associated PressMay 23, 2026
11 hours ago
Kevin Warsh, chairman of the US Federal Reserve nominee for US President Donald Trump, is sworn in during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing on April 21, 2026 in Washington, DC.
EconomyKevin Warsh
‘I almost fell out of my chair’: Fed stalwart Claudia Sahm fears Kevin Warsh’s policies could undo 20 years of policy progress
By Eleanor PringleMay 23, 2026
15 hours ago
The quiet death of conscious consumerism, from Everlane and Allbirds to Beyond Meat
EnvironmentRetail
The quiet death of conscious consumerism, from Everlane and Allbirds to Beyond Meat
By Phil WahbaMay 23, 2026
16 hours ago
g
Energygas
Gavin Newsom takes rare step of telling Californians to avoid Chevron: ‘Big Oil is already making billions off Trump’s Iran War’
By Sophie Austin and The Associated PressMay 22, 2026
1 day ago
A year in the life at HP: What matters to its sustainability lead in May 2026? 
EuropeHP
A year in the life at HP: What matters to its sustainability lead in May 2026? 
By Francesca CassidyMay 22, 2026
2 days ago
trump
EnvironmentWhite House
Trump reverses grocery, air conditioning pollution regulations because they’re too woke
By Matthew Daly and The Associated PressMay 21, 2026
2 days ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
2 days ago
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
Success
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
By Preston ForeMay 22, 2026
1 day ago
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Success
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
By Emma BurleighMay 22, 2026
1 day ago
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
AI
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
1 day ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
4 days ago
Current price of oil as of May 22, 2026
Personal Finance
Current price of oil as of May 22, 2026
By Joseph HostetlerMay 22, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.