Fox Sports has released a series of reports highlighting the global efforts of the world-class energy companies to combat climate change.
The first report, released on Monday, reveals that companies from major coal-mining nations to oil-rich nations to emerging nations are putting more resources behind efforts to limit carbon emissions.
The reports, which also included an analysis of emissions from coal-fired power plants and wind turbines, show that global energy companies have invested more than $100 billion to combat CO2 emissions.
Companies like BP, Chevron, Shell, ExxonMobil, Statoil and others are investing more than a quarter of a trillion dollars in climate-related research and development.
The report also reveals that the world is on track to exceed its goal of curbing global CO2 pollution to 32 percent below 1990 levels by 2030.
In the first three months of 2018, oil companies in the U.S. have pumped about $2.2 billion into the global effort to cut carbon pollution, according to the report.
The report found that more than half of the $3.7 billion invested so far in the United States had been for coal-based energy.
“Oil companies have been investing in CO2 reduction technologies to reduce CO2,” said Michael R. Lebow, senior vice president of government relations and external affairs at ExxonMobil.
“That’s something that’s very different than the carbon-dioxide emissions they’re trying to control.”
“I think the energy sector is taking a leadership role,” he added.
“It’s very significant.”
The second report from the Fox Sports team includes an analysis on how the energy industry is addressing climate change in the developing world.
The study found that companies have spent billions of dollars on green initiatives in the past five years to fight global warming.
The energy companies include major energy corporations like BP and Shell, as well as smaller players like ExxonMobil and Shell-owned BG Group.
“These companies are putting resources into green initiatives and helping to reduce carbon emissions in developing countries,” said Lebow.
The report says that companies in India are now working with governments to tackle climate change and that more money is being invested in developing climate-friendly technologies.
The countries are in the midst of a climate agreement that aims to limit global warming to 2 degrees Celsius above preindustrial levels.