How Big Polluters are using “net zero” to block meaningful action at COP26

The fact sheet identifies six corporate entities—BP, Microsoft, IETA, BlackRock, Shell, and Drax—that the author claims are using "net zero" agendas to mask continued fossil fuel investment, rely on unproven technology, and influence policymakers through extensive lobbying and partnerships surrounding COP26.

• BP is accused of using "net zero" to justify continued fossil fuel expansion, including plans to launch seven new hydrocarbon projects in 2022 and a planned expenditure of US$71 billion on fossil fuel extraction.
• Microsoft's "net zero" strategy is criticized for relying on offsets and technology that the company admits does not yet exist, while continuing to provide AI technology to the oil and gas industry.
• The International Emissions Trading Association (IETA) is described as promoting carbon markets to replace public finance for adaptation, which the document asserts erases the debt owed by the Global North to the Global South.
• BlackRock is alleged to use its 2050 "net zero" commitment to hide a lack of decarbonization plans for its portfolios, which include US$85 billion in coal assets and US$75 billion in tar sands production.
• Shell's "net zero" public relations are used to cover plans to spend US$8 billion annually on oil and gas and increase liquefied natural gas operations by 20 percent.
• Drax, the UK's largest single source of CO2 emissions, is accused of using "carbon negative" claims despite struggling to capture 1/100th of the emissions it was expected to.

APA

Friends of the Earth International (2021). How Big Polluters are using “net zero” to block meaningful action at COP26. https://www.foei.org/wp-content/uploads/2021/06/Final-Still-A-Big-Con-2-pager.pdf

Chicago

Friends of the Earth International. How Big Polluters are using “net zero” to block meaningful action at COP26. 2021. https://www.foei.org/wp-content/uploads/2021/06/Final-Still-A-Big-Con-2-pager.pdf.

Wikipedia

{{cite report |author=Friends of the Earth International |title=How Big Polluters are using “net zero” to block meaningful action at COP26 |date=October 2021 |url=https://www.foei.org/wp-content/uploads/2021/06/Final-Still-A-Big-Con-2-pager.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{friendsoftheearthinternational2021how, author = {{Friends of the Earth International}}, title = {{How Big Polluters are using “net zero” to block meaningful action at COP26}}, institution = {Friends of the Earth International}, year = {2021}, month = oct, url = {https://www.foei.org/wp-content/uploads/2021/06/Final-Still-A-Big-Con-2-pager.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }