Shell vs BP vs ExxonMobil: Ranking Oil Majors on Climate Action
Every major oil company now talks about energy transition. Shell references its low-carbon investments. BP touts its renewable portfolio. ExxonMobil points to its carbon capture research. The language is remarkably similar across all three.
The conduct is not.
We scored Shell, BP, and ExxonMobil across 11 independent ethical dimensions using court filings, regulatory penalties, investigative journalism, and NGO reports. No corporate sustainability reports. No PR-driven disclosures. Just independently verified evidence of what these companies have actually done.
Here is what we found.
The Scorecard at a Glance
ExxonMobil (XOM.US) -- Full Score Breakdown
ExxonMobil scores negatively on 10 out of 11 dimensions, with its worst scores on governance (-40), worker respect (-40), and health impact (-40). Only the Kind to Animals dimension registers a neutral score.
Shell (SHEL.LSE) and BP (BP.LSE)
Both Shell and BP receive an overall rating of "Mixed" in our analysis -- the same as ExxonMobil. All three companies score negatively on the environmental dimension, but the documented reasons differ considerably.
| Factor | Shell | BP | ExxonMobil |
|---|---|---|---|
| Overall Rating | Mixed | Mixed | Mixed |
| Scope 3 Emissions | ~1,147 Mt CO2e | Not disclosed at comparable scale | Among the highest globally |
| Environmental Penalties | $1.1B Nigeria settlement; $120M SEC settlement | $34B+ since 2000 | Multiple state lawsuits pending |
| Low-Carbon Investment | $5.6B (23% of capex) | $3.7B (vs $10B oil & gas) | Focused on carbon capture |
| Worker Issues | $4.5M in labour violations | 14.1% gender pay gap | -40 worker respect score |
| Defence Contracts | Alleged military fuel supply | $1.04B-$2.51B US contracts | -10 weapons dimension |
View full score breakdowns: Shell | BP | ExxonMobil
Deep Dive: Planet-Friendly Business
The Planet-Friendly Business dimension measures a company's environmental impact based on emissions data, regulatory penalties, pollution incidents, and independently verified decarbonisation efforts.
Shell
Shell's Scope 3 emissions totalled approximately 1,147 million tonnes of CO2 equivalent, according to the company's own reporting. A Dutch court issued a landmark ruling ordering Shell to reduce its emissions by 45% by 2030 -- a ruling Shell successfully appealed. Critics have characterised the company's climate messaging as greenwashing.
On the other side of the ledger, Shell reportedly invested $5.6 billion in low-carbon energy solutions, representing approximately 23% of its capital spending. The company has reportedly achieved over 60% of its Scope 1 and 2 emissions reduction target.
BP
BP's environmental record is dominated by the 2010 Deepwater Horizon disaster, which resulted in over $34 billion in environmental penalties since 2000, according to regulatory filings. BP has reportedly faced a $40 million EPA fine for Clean Air Act violations. Its Whiting refinery has been linked to benzene releases -- a known carcinogen -- and flaring emissions in Iraq have reportedly been associated with elevated cancer rates in nearby communities.
BP has reported reducing its Scope 1 and 2 emissions by 38% since 2019. However, independent analysts note that BP spends approximately $10 billion annually on oil and gas operations, compared with $3.7 billion on transition growth. Reports in 2024 indicated a strategic reset reducing the company's renewable energy focus.
ExxonMobil
ExxonMobil scores -30 on this dimension in our analysis. The company's core business remains crude petroleum extraction. Unlike Shell and BP, ExxonMobil has been more explicit about its continued commitment to fossil fuel production. The company has invested in carbon capture technology but has faced scrutiny from investigative journalists and researchers who allege that ExxonMobil's own scientists understood the climate impact of fossil fuels decades before the company publicly acknowledged it.
Deep Dive: Honest & Fair Business
The Honest & Fair Business dimension evaluates corporate governance, regulatory compliance, transparency, and the presence or absence of corruption, fraud, or misleading conduct based on court filings and regulatory actions.
Shell
Shell settled a $1.1 billion corruption case in Nigeria in 2023, according to court filings. The company also faced a $120 million SEC settlement for allegedly overstating its hydrocarbon reserves. Shell's climate communications have been challenged in multiple jurisdictions, with regulators and courts examining whether the company's public statements about its energy transition plans were consistent with its actual operational decisions.
BP
BP's safety briefings allegedly downplayed risks in the period leading to the Deepwater Horizon explosion, according to investigation reports. The company has faced repeated regulatory scrutiny over the accuracy and completeness of its environmental and safety disclosures.
ExxonMobil
ExxonMobil scores -40 on governance in our analysis. The company has faced multiple investigations and legal proceedings related to what investors and regulators allege was a systematic failure to disclose known climate risks to shareholders. Several US states and municipalities have filed lawsuits based on these allegations.
Deep Dive: Better Health for All
This dimension measures a company's impact on human health, drawn from epidemiological studies cited in court filings, regulatory health impact assessments, and investigative reports.
Shell
Shell's operations have been linked to significant pollution in the Niger Delta, with an $80 million compensation settlement related to health and environmental impacts. Air pollution from fossil fuel extraction and refining operations contributes to respiratory illness and other health conditions, according to public health research.
BP
The Deepwater Horizon spill allegedly caused long-term health issues for cleanup workers and coastal residents, according to medical studies cited in litigation. BP's Whiting refinery has been linked to benzene releases. In Iraq, flaring emissions from BP operations have reportedly been associated with elevated cancer rates in surrounding communities. In 2024, BP reported one fatality and four life-changing injuries across its operations.
ExxonMobil
ExxonMobil scores -40 on health impact in our analysis. The health impacts attributed to the company relate primarily to its large-scale extraction and refining operations, including air quality concerns near refineries and the broader public health consequences of fossil fuel combustion.
The Data on Worker Rights and Supply Chains
All three companies score negatively on Fair Pay & Worker Respect and Fair Trade & Ethical Sourcing, though the underlying data tells different stories.
Shell has faced reports of $4.5 million in labour violations and allegations of contract worker exploitation, according to regulatory filings. Critics have documented poverty wages in Shell's Nigerian operations and historical human rights abuse allegations.
BP's 2023 gender pay report showed women's median hourly pay was 14.1% lower than men's. While the company aims for $1 billion in diverse supplier spending, reports indicate 1,850 workers were impacted by wage or fee-related issues in 2024.
ExxonMobil scores -40 on worker respect and -20 on ethical sourcing. The company's supply chain, like those of its peers, extends into regions where labour standards enforcement is limited.
What About the Weapons Dimension?
The No War, No Weapons dimension is often overlooked in oil company analysis, but it is relevant. Fossil fuel supply is a strategic military asset, and all three companies have documented relationships with defence establishments.
Shell's fossil fuel products allegedly support military operations globally, according to procurement records, contributing to geopolitical tensions. BP's US defence contracts increased from $1.04 billion in 2010 to $2.51 billion in 2012, though the company also contributed $2 million to mine clearance in Ukraine. ExxonMobil scores -10 on this dimension, reflecting a less prominent but still documented defence relationship.
The Renewables Question
All three companies have made public commitments to energy transition, but the scale of those commitments relative to continued fossil fuel investment varies significantly.
Shell reportedly allocated 23% of its capital spending to low-carbon energy. BP invested $3.7 billion in transition growth against $10 billion in oil and gas -- and then reportedly scaled back its renewable ambitions in a 2024 strategic reset. ExxonMobil has focused its transition strategy primarily on carbon capture rather than renewable energy generation, a choice that has drawn both support and criticism from different investor constituencies.
Our scoring methodology does not reward stated intentions. It measures documented actions and their independently verified outcomes.
How We Score
Every score on Mashinii is built from independently verifiable sources: court filings, regulatory actions, investigative journalism, and NGO reports. Companies cannot influence their scores through self-reporting or sustainability disclosures.
We score across 11 independent dimensions -- not a single blended rating. This means a company can invest billions in renewables while still scoring poorly on governance or worker rights, and you see both data points.
This article presents Mashinii's scoring data alongside publicly documented facts. It does not constitute financial advice or an accusation of wrongdoing. All claims reference specific public sources. Where allegations are described, they are attributed to the relevant proceedings or reports.
Learn more about our methodology
What This Means for Your Portfolio
Shell, BP, and ExxonMobil are among the most widely held stocks globally. They sit in index funds, pension portfolios, and energy-sector ETFs. If you hold a diversified portfolio, you almost certainly have exposure to at least one of them.
The question is not whether these are good or bad investments. That depends on your financial objectives. The question is whether their ethical profile -- across all 11 dimensions, not just the environmental one -- matches your values.
You can check in under 60 seconds.