Exxon, Chevron First US Companies to Join Oil and Gas Climate Alliance

ExxonMobil, Chevron, and Occidental Petroleum join ten other major fossil fuel producers that say they recognize the goals of the Paris climate deal.

ExxonMobil, Chevron and Occidental Petroleum have joined a global group of oil giants aiming to limit their climate impact.

According to the Oil and Gas Climate Initiative (OGCI), its three new members recognize and support the Paris Agreement goal of keeping the temperature increase below 2C.  As a first gift, they will be contributing $100m to the group’s climate fund.

Darren Woods, chairman and chief executive officer of ExxonMobil said:  “Our mission is to supply energy for modern life and improve living standards around the world while minimizing impacts on the environment.  This dual challenge is one of the most important issues facing society and our company.”

Created in 2014, the OGCI comprises 13 oil and gas companies and aims to minimize the impacts of greenhouse gases through investments and research into green technology.  The group funds research into cutting emissions related to the production of fossil fuels.  It advocates for carbon capture mechanisms and more efficient transport engines as ways to decrease emissions.

Exxon, Chevron First US Companies to Join Oil and Gas Climate Alliance