ExxonMobil addresses shareholders on managing climate risk

01 Apr '14

1 min read

All energy sources, including carbon-based fuels, are necessary to meet future global energy demand growth as society manages the risks of climate change, ExxonMobil said in two reports to shareholders outlining the company’s business planning and risk assessment practices.

“Our analysis and those of independent agencies confirms our long-standing view that all viable energy sources will be essential to meet increasing demand growth that accompanies expanding economies and rising living standards,” said William Colton, ExxonMobil’s vice president of corporate strategic planning.

“It is equally essential that society manages the risk of climate change by increasing energy efficiency and by investing in research into technologies to reduce greenhouse gas emissions.”

The reports to shareholders outline how the company plans capital expenditures, assesses and plans for policies limiting greenhouse gas emissions and works to reduce emissions. They also include information such as distribution of reserves by asset location and type.

“The risk of climate change is clear and the risk warrants action,” said Colton. “ExxonMobil is taking action by reducing greenhouse gas emissions in its operations, helping consumers reduce their emissions, supporting research that leads to technology breakthroughs and participating in constructive dialogue on policy options.”

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