Friday, March 21, 2014

In Shift, Exxon Mobil to Report on Risks to Its Fossil Fuel Assets

An Exxon rig in Mobile Bay, Ala. The company agreed to publish plans to cope with the risks to its assets posed by potential limits on greenhouse gas emissions. (Credit: Bevil Knapp/European Pressphoto Agency) Click to enlarge.
Energy companies have been under increasing pressure from shareholder activists in recent years to warn investors of the risks that stricter limits on carbon emissions would place on their business.

On Thursday, a shareholder group said that it had won its biggest prize yet, when Exxon Mobil became the first oil and gas producer to agree to publish that information by the end of the month.

Exxon declined to comment, but an email exchange with the company provided by the shareholder groups confirmed the agreement.

The shift is a sign of a growing acceptance among investors and companies that the value of fossil fuel assets may be out of line with evolving policies on global warming.

NY Times:  In Shift, Exxon Mobil to Report on Risks to Its Fossil Fuel Assets

E&E:  Exxon Mobil Takes on 'Carbon Bubble' with Market Risk Report

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