• ExxonMobil takes a new communications approach to climate change risk

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      Patrick Lavery

      Combustion Industry News Editor

The Financial Times has looked at the changing approach to communications taken by ExxonMobil under its current CEO, Darren Woods, who was appointed at the start of last year. While the company still believes that it will primarily be an oil and gas business in 2040, it is identifying strategies that address climate risk, for instance through reducing methane leakage from oil wells. Moreover, it is making efforts to discuss climate risks with investors, and in July cut ties with the American Legislative Exchange Council, a group of US state lawmakers acting to reduce climate change action. Mr Woods also believes that if some technological breakthrough was made that would allow for heavy transport to dispense with oil, then the time it would take for the technology to be adopted would allow ExxonMobil itself to adapt to the changed circumstances.