climate change – Page 30

Oil major pledges to become carbon neutral by 2030, drawing sharp criticism from climate activists

January 27, 2020

CNBC Sweden’s oil major Lundin Petroleum has pledged to become carbon neutral by the end of the decade, announcing plans to replace “Petroleum” with “Energy” in its name. The company, which is one of Europe’s largest independent oil producers, said Monday that it will achieve carbon neutrality by 2030 by reducing emissions from operations, improving energy efficiency and developing carbon capture

House Republicans caught between Trump and young voters on climate change

January 26, 2020

Politico GOP leaders are putting together their own more modest set of climate policies that their party can rally behind. House Republicans know they face a growing vulnerability with young voters on climate change — but their attempts to craft a greener message are running headlong into their allegiance to President Donald Trump. Unlike Trump, the chamber’s GOP lawmakers have largely

Climate change also poses a threat to oil’s exploration budgets, report finds

January 22, 2020

Houston Chronicle The growing threat of climate change and the evolving transition toward cleaner energy alternatives are threatening spending on traditional oil and gas exploration worldwide, according to a new report. The largest energy companies are reducing exploration budgets and facing more pressure from shareholders to conduct more exploratory drilling around the world, even amid growing reserves of oil and

Climate is changing. Investing needs to, too, says BlackRock

January 14, 2020

AP News NEW YORK — A changing climate means dramatic risks for the world — and for investments too, the chief of the world’s largest investment manager said Tuesday. To prepare for and protect against those risks, BlackRock CEO Laurence Fink said in his influential annual letter to CEOs that his firm, which manages roughly $7 trillion for investors, will make a

Texas oil & gas industry breaks tax records while grappling with climate change

January 14, 2020

Houston Chronicle The oil & gas industry broke state tax records in 2019 while grappling with ways to control emissions that are believed to be responsible for climate change. In a report issued on Tuesday morning, the Texas Oil & Gas Association reported that the industry paid $16.3 billion in taxes and royalties to the State of Texas, county governments

Democrats call out Marathon Petroleum for ‘relentless lobbying against climate action’

January 13, 2020

Houston Chronicle WASHINGTON – A trio of Democratic Senators is asking some of Marathon Petroleum’s largest shareholders, including JP Morgan Chase and Blackrock, to warn the Ohio-based refining company that it needs to stop lobbying against climate action. “Marathon is one of the leading forces in Washington opposing efforts to limit carbon pollution and fight climate change, ” reads the letter.

Exxon, Chevron face new round of shareholder climate resolutions

December 16, 2019

Reuters LONDON (Reuters) – An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions. Dutch group Follow This is targeting U.S. giants ExxonMobil, Chevron and their European rivals Royal Dutch Shell, BP and Equinor with climate resolutions ahead of next

Exclusive: Investors step up pressure on global energy watchdog over climate change

November 18, 2019

Reuters LONDON/BRUSSELS – Fatih Birol, the head of the International Energy Agency (IEA), faced renewed pressure on Monday from investors and scientists concerned about climate change to overhaul the agency’s projections for fossil fuel demand. Pension funds, insurers and large companies were among 65 signatories of a joint letter to Birol, seen by Reuters, urging him to do more to

Trump administration begins formal US withdrawal from Paris climate agreement

November 5, 2019

Los Angeles Times The Trump administration gave official notice Monday that it will pull the United States out of the Paris climate accord, a long anticipated move and a significant step in America’s retreat as an environmental leader. Despite the president’s repeated claims to have already left the agreement, the U.S. is still very much a part of it. Under

Tillerson rejects NY claim that Exxon’s climate plan was fake

October 31, 2019

Former Exxon Mobil Corp. Chief Executive Officer Rex Tillerson rejected the New York attorney general’s claim that for years he spearheaded a secret scheme to defraud investors by lying about how the oil company planned for the financial risks of climate change. Tillerson, called as a witness by the state, testified for 3 { hours in Manhattan on Wednesday in

Landmark climate trial turns on whether Exxon cooked the books

October 22, 2019

Houston Chronicle: Last month, millions of people around the globe gathered to protest what they consider a dangerous lack of vision among nations and industries when it comes to combating global warming, and the burning of fossil fuels that causes it. Chief among those singled out were the companies that have, for the better part of a century, profited from

Chevron CEO touts Texas growth, urges industry improvements on emissions

October 9, 2019

Source: Houston Chronicle The CEO of Chevron touted the company’s Texas growth – from the Permian Basin to Houston refining and chemicals – and urged the energy sector to take the lead on emissions reductions to help combat climate change. Speaking at the Greater Houston Partnership’s annual “State of Energy” luncheon, Chevron Chief Executive Mike Wirth praised the Houston area as

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