Journalism ResourcesFOREIGN PRESS USAClimate Crisis, Climate Reporting, Climate Denial, Bloomberg, The Economist, New York Times, Financial Times, Politico, Reuters, Washington Post, Disinformation, Big Oil, Chevron, ExxonMobil, Shell

A New Report Reveals How Big Oil's Cash Influences Climate News Narratives

Journalism ResourcesFOREIGN PRESS USAClimate Crisis, Climate Reporting, Climate Denial, Bloomberg, The Economist, New York Times, Financial Times, Politico, Reuters, Washington Post, Disinformation, Big Oil, Chevron, ExxonMobil, Shell
A New Report Reveals How Big Oil's Cash Influences Climate News Narratives

A recently released report has spotlighted the complicit role of media outlets in perpetuating climate delay, a practice that sidelines effective climate solutions while advancing the interests of polluting industries. Jointly produced by investigative climate-focused outlets, Drilled and DeSmog, the report scrutinizes seven prominent news brands in the United States and Europe: Bloomberg, The Economist, The Financial Times, The New York Times, Politico, Reuters, and The Washington Post.

While these news outlets maintain dedicated editorial teams that rigorously examine the fossil fuel industry, they simultaneously accept sponsorship funds from major oil companies for advertorials, podcasts, newsletters, and live events. This creates a concerning overlap between impartial reporting and paid promotional content. Research from Boston University in 2018 found that fewer than one in 10 individuals can differentiate sponsored content from standard articles. This confusion erodes public trust in news reporting and obstructs urgent action against climate change.

While the report scrutinizes the aforementioned "most trusted brands," this trend impacts newer media outlets as well. For instance, the U.S. startup Semafor partnered with Chevron to sponsor its climate newsletter in October 2022. Similarly, Axios has engaged with fossil fuel companies, sponsoring its newsletters since 2017.

During the evaluation of various brands, Saudi Aramco emerged as the top spender, allocating significant funds to The New York Times, Reuters, The Economist, and Bloomberg between October 2020 and October 2023.

The New York Times' Brand Studio, later known as T Brand Studio, crafted advertisements for Chevron, ExxonMobil, and Shell. Notably, it also produces the BP-sponsored podcast "Energy Trilemma," spotlighting the role of major oil companies in the realm of decarbonization. However, the outlet refrains from allowing fossil fuel advertisers to sponsor its climate newsletters or organic social media content. Reuters also stands out for offering a multitude of avenues for fossil fuel advertisers and blurring the line between advertorial and editorial content. In the buildup to COP28, Reuters' advertising team provided opportunities for advertisers to align their climate-focused narratives with the platform, offering exclusive interviews and participation in prominent roundtable discussions.

While Bloomberg, The Financial Times, and The Economist demonstrate comparatively less enthusiasm for amplifying fossil fuel industry messages, they continue to accept substantial funding from the oil industry for native content creation and live events. For example, The Financial Times dedicated pages to Saudi Aramco and Equinor, housing paid articles and videos generating an estimated $7.6 million in revenue over a three-year period.