“It seems to me to be very important that everyone does their part; they set very clear targets, not so unambitious as to be unbelievable, but to be realistic,” he said.
Fossil fuel producers never say how much carbon dioxide in the atmosphere is too much. Many executives say they want a roadmap for emissions-reduction milestones, butThe fossil fuel industry’s messaging at CERAWeek has evolved over the nine years I’ve attended. Its gone from undermining the science proving humans are causing climate change to. But it still rejects what scientists say is necessary to slow global warming.
Listen closely enough, though, and investors can detect a divergence in major companies’ strategies. Shell is shifting toward natural gas and generating electricity, while BP is rolling back energy transition plans. Exxon Mobil is doubling down on what CEO Darren Woods called the “molecule transformation business" and focusing on oil and gas.
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