Exxon to come clean on how climate change will affect its business
Boston/Houston — Exxon Mobil on Monday said it would publish new details about how climate change could affect its business in a move aimed at appeasing critics and forestalling another proxy fight next year. The largest US oil and gas producer said in a filing to US securities regulators that its board agreed to provide shareholders with information on "energy demand sensitivities, implications of 2°C scenarios, and positioning for a lower-carbon future." Scientists have warned that world temperatures are likely to rise by more than 2°C this century, surpassing a "tipping point" that a global climate deal aims to avert. Exxon’s statement, which came three days before the deadline for its 2018 annual meeting resolution submissions, said additional information would be released in the near future, but did not provide details. The company’s board originally opposed providing shareholders with a report outlining the potential impact of global warming on Exxon’s long-term outlook. Thoma...
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