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Article

20 Mar 2014

Author:
As You Sow

Landmark Agreement: ExxonMobil will Disclose Climate Risk

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ExxonMobil...has agreed...to publish a Carbon Asset Risk report describing how it assesses the risk of stranded assets from climate change. The agreement comes in response to a shareholder resolution filed by As You Sow and Arjuna Capital, which has been withdrawn...As You Sow has filed similar resolutions with Chevron, Anadarko, Hess, and CONSOL Energy...Exxon's report will address: - How Exxon assesses the risk of a low carbon scenario, other than placing a price on carbon. - Why the Company, in assessing the economic viability of proved...reserves, fails to conduce a scenario analysis based on...reducing GHG emissions 80% by 2050... - How Exxon's base case scenario tracks with the IPCC... - How the Company incorporates a low carbon assessment into capital allocation plans... - Why the Company believes current investments in new reserves are not particularly exposed to the risk of stranded assets.