Read the latest insights and analysis from the experts at Oil Change International.
Last year, we rated ExxonMobil as "grossly insufficient" on all ten of the criteria. There are tiny steps forward in the new announcement, but nothing that changes any of our ten metrics from "grossly insufficient" to "insufficient," let alone to even "partial alignment."
“Of course, when the clock strikes midnight to turn to January 1, 2021, the world won’t instantly be cured of either COVID or our fossil fuel addiction. But, nevertheless, as we look towards 2021, there is hope on the horizon."
For those hoping that the duel whammy of the pandemic and our climate emergency would belatedly and finally pivot Exxon away from fossil fuels, this is not going to happen. The company just wants to carry on drilling.
Being a “leader” among laggards doesn’t cut it when we’re in a climate emergency – a crisis that the oil and gas industry has done the most to cause.
Despite our climate emergency and the massive demand reduction caused by COVID-19, American oil executives say it would be "folly" for them to switch to renewables.
The once mighty Exxon has just suffered the corporate humiliation of being booted out the highly influential Dow Jones Industrial Index.
Shell is in trouble. BP is in trouble. So too is Exxon.
Big Oil faces a new reality where "everything has changed.” Even their long-term survival.
According to UNEP, collective ambition must increase more than fivefold over current levels to deliver the cuts needed over the next decade for the 1.5°C goal, or put another way, global greenhouse gas emissions need to fall by 7.6 per cent each year between 2020 and 2030.
Exxon Mobil and Big Oil will finally be on trial for misleading investors over the financial risks of climate change.
