September 19 – Fossil fuel companies bankroll $5.6 billion in global sports deals in a bid to ‘greenwash’ their reputations with football benefitting receiving almost $1 billion. according to a new study by Thinktank New Weather Institute (NWI).
The Dirty Money report by NWI contends that football has gained the most from the deals, with 59 sponsorship arrangements worth a total of almost $1 billion.
Fossil fuel companies have channelled money into motorsports, golf, boxing and an array of other sports in an attempt to “divert attention from their role in fuelling the climate crisis”.
Aramco, Saudi Arabia’s national oil company, the report says, is the single biggest investor in sports with $1.3 billion across 10 deals, outstripping sponsorship investment by Ineos, Shell and Total Energies.
Aramco plays a major role in football as the oil company is FIFA’s worldwide partner, a deal that was confirmed last April and is reportedly worth more than $100 million a year until 2027.
The deal raised concerns about FIFA’s commitment to combat climate change. “Aramco has a strong track record of supporting world-class events, but also a focus on developing grassroots sport initiatives,” said FIFA president Gianni Infantino at the time.
The report points out that “Saudi Arabia also has a track record of undermining global efforts to tackle the climate crisis through lobbying to remove anti-fossil fuel language and acknowledgement of climate change from key agreements and statements” and recommends sports introduce “tobacco-style bans” on sponsorship from fossil fuel companies and seek “more sustainable sources of funding in sports sponsorship”.
Aramco has been contacted for comment.
Contact the writer of this story at moc.l1726750259labto1726750259ofdlr1726750259owedi1726750259sni@i1726750259tnuk.1726750259ardni1726750259mas1726750259
Author : Paul Nicholson
Publish date : 2024-09-19 11:58:12
Copyright for syndicated content belongs to the linked Source.
The post Report finds fossil fuel firms spend $1bn on football ‘greenwashing’ first appeared on Soccer News.
—-
Author : soccernews
Publish date : 2024-09-19 12:51:33
Copyright for syndicated content belongs to the linked Source.