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Exxon says world set to fail 2°C global warming cap by 2050 (www.reuters.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 10 points 1 year ago (1 children)

Exxon produces less than 3% of the world's daily crude demand and in May its shareholders overwhelmingly rejected calls for stronger measures to mitigate climate change.

[–] [email protected] 12 points 1 year ago (2 children)

"It's those darn shareholders! Our hands are tied!"

[–] [email protected] 3 points 1 year ago

Seems like the reasoning they are going with. Really we need to make it somehow more profitable to do the right/climate focused things.

[–] [email protected] 2 points 1 year ago* (last edited 1 year ago) (1 children)

Not that it's a good excuse, but isn't that true? Investors ultimately elect executive management.

The abstraction between investor ownership and company management is one of the most damaging structures ever built.

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago)

Take your pick!
https://imgur.com/a/856MuzH