Wednesday, May 26, 2021

Chevron, Exxon, and Shell Face Climate Change Challenges

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There were three big pieces of news today from top energy and greenhouse gas producers. In a normal news day, each piece would be big news in the climate change policy world. However, with three coming on the same day, it is a rather striking news day.

First, Chevron shareholders voted to slash tertiary emissions from its products. Second, Exxon lost two board member positions to climate change activists. Finally, a Dutch court ordered Shell to reduce greenhouse gas emissions by 45% by 2030. A busy news day indeed!

These cases demonstrate that the large energy companies are facing growing political, social, and legal pressures around their responsibility for the current climate crisis. For many years, these large companies had many political and economic advantages over climate activists. Those days seem to be fading.

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