The German energy group RWE will review its own lobbying policy to ensure that these activities are in line with the Paris climate goals. That is what CEO Rolf Martin Schmitz said at the shareholders’ meeting of the company.
The promise came after questions from investors who are concerned that RWE says on the one hand that it is more sustainable and, on the other hand, is lobbying for measures to reduce greenhouse gas emissions. The energy company owns some of the most polluting coal-fired power stations in Europe.
According to the investor group Institutional Investors Group on Climate Change (IIGCC), chemical giant BASF will also critically examine its own lobbying activities, but the company has not yet confirmed this. Both German industry giants would not only investigate their own policies, but also the lobbying activities of branch organizations of which they are members.
IIGCC is a member of the larger association of Climate Action 100+ investors, which together represent USD 33 trillion in investments. The investor group recently managed to force oil giants such as Shell, BP and Equinor to tighten their climate targets.