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Breakthrough as ExxonMobil Agrees To Outline Climate Risks

Author: Mike Scott, (USA), Published on: 27 March 2014

ExxonMobil...has agreed to tell investors of the risks to its business from climate change after pressure from investors...Arjuna Capital and...As You Sow... ExxonMobil says it will assess the risks to its resources, how its profits will be affected by tighter emissions limits and how any new reserves...will add value to the company. “The report will provide investors with greater transparency into how ExxonMobil plans for a future where market forces and climate regulation makes at least some portion of its carbon reserves unburnable,” said Arjuna and As You Sow...Exxon’s move mirrors [similar moves by]...FirstEnergy...and...Peabody Energy... [In late 2013] Ceres, representing investors with $3 trillion of assets..., wrote to 45 of the biggest fossil fuel companies asking them to set out their climate risks. About two thirds agreed...and the group’s members filed shareholder resolutions with the others. [also refers to Shell]

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Related companies: Anadarko (now part of Occidental Petroleum) Chevron Consol Energy ExxonMobil FirstEnergy Hess Corporation Kinder Morgan Inc. Peabody Energy