What's happened
A new report reveals that fossil fuel companies have invested over $5.6 billion in sports sponsorships, raising concerns about 'sportswashing.' Major players like Aramco and Ineos dominate the funding landscape, while public backlash grows against these partnerships amid climate change discussions.
Why it matters
What the papers say
The Guardian's Damien Gayle reports that fossil fuel companies have invested at least $5.6 billion in sports, aiming to 'buy social licence to operate.' This aligns with findings from the New Weather Institute, which traced over 200 sponsorship deals. Politico highlights Saudi Arabia's strategic use of sports to enhance its global image, with Crown Prince Mohammed bin Salman stating, 'If sportswashing is going to increase my GDP by 1%, then we’ll continue sportswashing.' The Japan Times emphasizes the growing presence of Middle Eastern petrol states in sports, even as climate concerns mount. The South China Morning Post notes that only a fraction of the 205 active sponsorship agreements disclosed financial details, raising questions about transparency.
How we got here
The report, 'Dirty Money - How Fossil Fuel Sponsors are Polluting Sport,' highlights the increasing involvement of fossil fuel companies in sports sponsorship since 2016, coinciding with Saudi Arabia's Vision 2030 initiative to diversify its economy.
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