What is ExxonMobil’s New Climate Strategy Worth?
Big oil’s most reluctant decarboniser lays out its green plan.
On January 18th Mr Woods unveiled the firm’s long-awaited update to its climate strategy. “Is society sincere in its desire for a lower-emissions future?” asked the veteran oilman when pressed on the thinking behind the plan. It is, he says. “And so are we.”
Exxon Mobil’s new long-term goal is accompanied by concrete plans for this decade. In a big U-turn, the firm will commit to absolute cuts in its carbon emissions—a step it has long resisted in favour of squishier reductions in “emissions intensity”.