Major energy companies conceal almost half of biodiversity events
A study by the UPV/EHU reveals that almost half of the adverse events for biodiversity are not mentioned in the sustainability reports of energy companies. Specifically, only 23% of cases are reported, and in the other cases, money laundering strategies are used. An innovative methodology of contractually has been used to achieve these results.
The study was carried out by the research team on the achievement of the Sustainable Development Goals, business activity and circular economy, led by Doctoranda Goizeder Blanco Zaitegi. Specifically, during the period 2020-2021, 47 incidents related to the 30 major energy companies in the euro area (deforestations, bird electrocutions, habitat destruction…) have been analysed and 22 have been found not to be mentioned in the sustainability reports of companies. Among the companies analyzed are EDF and Total in France, and Enagas in Spain, Endesa, Iberdrola, Naturgy, Repsol…
According to researchers, European directives oblige large companies to publish documents relating to the environment and biodiversity, but the information that should appear in them is not fully defined. Thus, they diffuse some of the cases to which they refer and use strategies to justify corporate responsibility, such as the emphasis on positive actions (e.g. alluding to tree plantations and not to induced deforestation on the farm).
The events that explain in detail include the electrifications of birds and the attacks on indigenous communities. These are harder to hide: bird deaths are easily counted and there are fines; and in cases against indigenous communities, those affected testify and face litigation.
From the methodological point of view, the researchers emphasize that a study based on the contractibility has been carried out. Instead of directly analysing the sustainability reports of energy companies, they have first searched external sources for events against biodiversity (Google news, social network X, digital environmental media, websites of environmental and non-governmental organizations, media directed to the general public…). To take account of one fact, it had to appear at least in two different places. They then went to the companies’ reports and analysed their collection and the way in which it was collected. In this sense, the UPV/EHU group has made a methodological contribution to the area. Details have been published in the Journal of Behavioral and Experimental Finance.
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