About: http://data.cimple.eu/news-article/78c115f3c95b5e46eb4d49d576685b04e01d9a7372cd39c01369d614     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

AttributesValues
rdf:type
schema:articleBody
  • ExxonMobil's strategy in the face of climate change poses an "existential business risk" to the company, according to an activist hedge fund that is a shareholder in the oil giant, a report in the Financial Times said Sunday. The company, which has been criticized over the last year for both its financial performance and its approach to renewable energy investment, "has no credible plan to protect value in an energy transition," hedge fund Engine No. 1 said in an 80-page investor presentation. ExxonMobil has said its business would focus on carbon capture and storage technology as a means to counter the emissions that cause global warming. However, it also plans to continue pumping oil and expects to spend $20 to $25 billion per year between 2022 and 2025 to fuel its growth, mainly through new oil and gas exploration projects. In the document, which will be distributed to other shareholders, the hedge fund criticized ExxonMobil's "value destruction" and "refusal to accept that fossil fuel demand may decline," according to the Financial Times. Engine No. 1 is campaigning for the oil company to consider alternative energy more seriously. The document also claims that Exxon's total emissions, including those from the products it sells, will increase by 2025. World leaders came together virtually this week at the request of US President Joe Biden for a 40-leader climate summit. Biden doubled US targets to slash greenhouse gas emissions responsible for climate change by 2030, with Japan and Canada also raising commitments and the European Union and Britain locking in forceful targets earlier in the week. The US oil giant, which lost $22 billion in 2020 amid collapsing oil prices, is due to report its first-quarter results on Friday. jul/bfm/jfx
schema:headline
  • ExxonMobil investor says its climate strategy an 'existential' risk: report
schema:mentions
schema:author
schema:datePublished
http://data.cimple...sPoliticalLeaning
http://data.cimple...logy#hasSentiment
http://data.cimple...readability_score
Faceted Search & Find service v1.16.115 as of Oct 09 2023


Alternative Linked Data Documents: ODE     Content Formats:   [cxml] [csv]     RDF   [text] [turtle] [ld+json] [rdf+json] [rdf+xml]     ODATA   [atom+xml] [odata+json]     Microdata   [microdata+json] [html]    About   
This material is Open Knowledge   W3C Semantic Web Technology [RDF Data] Valid XHTML + RDFa
OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 11 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software