| ExxonMobil shareholder group urge more transparency on climate risk | |
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LONDON, Jan 19 (Reuters) - A group of shareholders in ExxonMobil urged the oil giant on Tuesday to detail the resilience of its business model to climate change, a month after the Paris agreement set the world on course to transform its fossil fuel-driven economy. "As shareholders, we want to know that Exxon is doing what is needed to prepare for a future with lower carbon emissions. The future success of the company, and its investors, requires Exxon to assess how it will perform as the world changes." Over the past year or so, several large U.S. investors have been pushing for the oil industry to detail the risks of climate change to their business models. In April last year, Calpers, the largest U.S. public pension fund, along with 60 other institutional investors, asked the U.S. Securities and Exchange Commission to make oil and gas companies publish analysis of climate change risks. Other oil majors, such as Shell and BP, have already agreed to disclose how they will be affected by efforts to dramatically reduce greenhouse gas emissions. Exxon, the world's largest publicly traded oil company, has said it has worked transparently for years on climate science and has properly disclosed business risks. Last year, environmental groups asked the U.S. Justice Department to investigate the company after reports that Exxon executives had downplayed warnings on global warming by the company's own scientists. (Reporting by Nina Chestney; Editing by Katharine Houreld)
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Exxon Mobil is a and oil producing company based in United states of america. Exxon Mobil is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is US$ 499.8 billions as of today (€ 467.1 billions). Its stock quote reached its lowest recent point on March 14, 1997 at US$ 100.12, and its highest recent level on April 26, 2024 at US$ 117.96. Exxon Mobil has 4 237 270 016 shares outstanding. |