NextGen

CEOs Talk the Talk on Climate Change, But Political Contributions Indicate Walk Failing to Be Walked

While CEOs lately haveĀ spoken at great length about combating climate change, their political contributions more often than not go to politicians who quash efforts to do so, according to Bloomberg. An analysis that examined the political spending by S&P 100 firms found that for every dollar they have to climate-friendly members of Congress this election cycle, they gave $1.84 to passionate opponents of a proactive climate policy.

Of the $68 million sent by these companies to incumbent House and Senate members' campaigns and PACs in the 2018 midterms, one third went to candidates with a lifetime score of 5 percent or lower from the League of Conservation Voters, while nearly half went to those with scores of 10 percent or lower. Overall, less than a third of that amount went to incumbents with scores of 90 percent or higher. This donation pattern persisted despite many of these same companies announcing the need for more action on climate change, including in their own initiatives (e.g. Google's pledge to eventually go carbon free by 2030).

Companies queried about this disparity generally denied that there was any contradiction between word and deed, saying that just because they gave to a politician who is against a proactive climate policy, that may not be the exact reason why they did so; there may be other priorities they hoped to achieve through their spending, such as judicial issues or taxes.