exxonMobil bends towards low-carbon pressures

摘要

ExxonMobil has launched a low-carbon business unit focused on carbon capture and storage (CCS) in the face of rising environmental, social and governance pressures, but activist investors will keep pushing it to embrace a bolder clean-energy strategy. ExxonMobil Low Carbon Solutions will pull under its umbrella more than 20 existing projects around the globe aimed at large-scale emissions reductions. The unit will invest $3bn on lower-emission energy projects and technology by the end of 2025. Chief executive Darren Woods says the timing is right to launch the business because governments and investors are openly backing the technology. “With the increased recognition of the need for this technology, governments are more amenable to… recognising the need for policy, regulatory, and legal frame- works to support establishing” carbon capture, he says.