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7 November 2024
Elizabeth Pfeuti
November 7th, 2024
A non-profit organisation has called on Microsoft to acknowledge the risks it faces, including greenwashing, due to its partnerships with fossil fuel-linked companies.
In a filing with the US Securities and Exchange Commission, As You Sow questioned Microsoft for its self-proclaimed status of a “first mover” on climate change.
The tech giant previously pledged to advocate for the expansion of clean energy solutions around the world and to limit its advanced technology partnerships to energy companies “who have publicly committed to net zero carbon targets.”
However, its focus on fossil fuels as a significant growth opportunity for AI, cloud computing and machine learning contradicts these commitments, according to As You Sow.
It said Microsoft has “sought to market AI to companies such as ExxonMobil and Chevron as a powerful tool for finding and developing new oil and gas reserves and maximizing their production—all while publicly committing to reduce emissions dramatically.”
In addition, Microsoft has not provided any credible external standard for evaluating its partners’ net zero claims. This gap in policy has resulted in multiple partnerships with energy companies that lack credible net zero commitments.
Despite its stated climate commitments, As you Sow said Microsoft’s continued sale of advanced technology products to fossil fuel companies without credible net-zero pledges exposes it to material, reputational, operational, and competitive risks.
Therefore, shareholders have requested that Microsoft report on the risks associated with providing advanced technology to support new oil and gas development and production.
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