15 Mar '17, 10am

Oil giants are waking up to carbon bubble risks

With grand speeches, new climate strategies, the offloading of carbon intensive assets and even changes in executive pay structures, the last few weeks have provided some intriguing evidence that oil firms finally may be starting to take the climate threat seriously. First came Chevron, which earlier this month admitted climate factors could pose significant liability and regulatory risks to its financial returns, confirming its fears to investors that climate-related lawsuits and tighter restrictions on carbon emissions could have a significant impact on its bottom line. In a filing submitted to the U.S. Securities and Exchange Commission (SEC), Chevron admitted it could be at risk of "governmental investigations and, potentially, private litigation" from increased attention to climate risks, while stricter emissions legislation might render future oil extraction "economi...

Full article: https://www.greenbiz.com/article/oil-giants-are-waking-ca...

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