Exxon asks the regulator to block climate-change actions in the company
The representatives of Exxon Mobil, the largest publicly controlled oil company, took an action to block the proposals of two of the investors group, which regard setting the goals for limitting greenhouse gas emissions. The corporation wrote to the competent authorities with request to block the proposal, which is planned to be considered in May on the annual meeting.
The proposal is considered by the Exxon as harmful to the management of the company. The spokesmen of the investors supoorting the idea of emission reduction plan feel disrespected and disappointed underlining that the largest competitors (Shell, BP) already set the goals for greenhouse gases limitation. Another argumentation for the proposal is the alignment of the company with the national and global climate-change related commitments (i.a. Pais Agreement). This is not a first time when the Exxon was called to be aware of risk coming with the global climate and having impact on the business prosperity. Although, Exxon in reposne published a report which undelines that the global oil demand wil remarkably decrease until 2040, what can be interpreted as expectation of GHG emission decreasue due to lowered production.