Climate Adaptation
Exxon’s New Carbon Capture Plan Looks a Lot Like Its Old One
- Oil giant’s $3 billion pledge less than 5% of capital budget
- Exxon appeals for government to support carbon capture
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Exxon Mobil Corp. pledged to spend $3 billion on low-emission technologies through 2025 to address investor concerns over its environmental record, unveiling a plan that comprises several projects that have already been announced.
Exxon said Monday in a statement it will “commercialize” its low-carbon technology initiatives through a new venture called ExxonMobil Low Carbon Solutions.