[MCN] Former Exxon executive calls on oil industry to clean up its climate act

Lance Olsen lance at wildrockies.org
Mon Apr 30 16:59:33 EDT 2018

Former Exxon executive calls on oil industry to clean up its climate act
https://www.cnbc.com/2018/04/30/oil-industry-needs-to-address-climate-change-says-former-exxon-exec.html <https://www.cnbc.com/2018/04/30/oil-industry-needs-to-address-climate-change-says-former-exxon-exec.html>


In 2017, after years of failure, shareholders at my former employer, ExxonMobil, passed a resolution calling for the company to outline its plans for dealing with climate change <http://cdn.exxonmobil.com/~/media/global/files/energy-and-environment/2018-energy-and-carbon-summary.pdf>. This month, New York State Comptroller Tom DiNapoli sent a letter to ExxonMobil <https://www.reuters.com/article/us-exxon-mobil-investment/pension-fund-leader-presses-exxon-for-more-climate-details-idUSKCN1HA2A7> describing that report as insufficient and pressing for more details.

It's not just ExxonMobil. Chevron <https://www.chevron.com/-/media/shared-media/documents/climate-change-resilience.pdf> and Shell <https://www.shell.com/energy-and-innovation/the-energy-future/scenarios/shell-scenario-sky.html> have also recently released reports, neither of which should satisfy investors. Why? For a start, the ExxonMobil and Chevron Climate Reports assume that governments won't succeed in meeting their Paris Agreement commitments, resulting in financial outlooks that leave them free to sell all their fossil fuel assets.

"What we're understanding is that the human body is actually very sensitive to heat, and that suggests pretty much everybody's at risk,” said Camilo Mora, the paper's lead author. "It's not just the elderly. It's not just the poor. It's everybody."

"The attitude is: If it's killing someone else, I'll deal with it tomorrow," he said. "This is coming at our doors right now.”


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