ExxonMobil Releases Climate Impact Report
World demand for oil could dip substantially by 2040 if policies to curb warming are aggressively implemented, ExxonMobil said in a climate-impact analysis released Friday.
The oil giant’s shareholders, including financial giants BlackRock and Vanguard, backed a proposal last year requiring Exxon to provide analysis of how climate policies will impact its bottom line in an increasingly warming world.
The analysis paints a mostly rosy future for the oil and gas industry, saying that even aggressive climate policy poses “little risk” to the company. However, the report does not address the multiple lawsuits facing Exxon and other fossil fuel giants, while some of the company’s analysis—including its predictions for the number of electric vehicles on the road by 2040 and the assumption that carbon capture technologies will allow the continued use of fossil fuels—has been challenged by experts.
As reported…
