There needs to be transparency to the funds and their use. I will point out that Shell stated openly the drilling in the Arctic is a poor idea and carries too much risk including the dangers to the climate. THAT is leadership.
If I read the tea leaves right, methane will be the new oil and this initiative will provide little to no relief from CO2 emissions generated by burning methane and will never seal the methane leaks their industry produces every year.
Start containing the effects of the Climate Crisis by ending the destruction of rainforest and begin to replace the biotic content of Earth in it's forests and other carbon sinks.
20 September 2018
By Adam Vaughan
ExxonMobil (click here) has joined the oil and gas industry’s flagship climate change project, reversing its decision not to join the alliance four years ago.
The company was a notable holdout when the Oil and Gas Climate Initiative (OCGI) was launched, but will now join European peers BP, Shell and Total in contributing $100m (£75m) to curb the impact of global warming.
The move is the clearest sign yet the US company is taking a more progressive stance on global warming.
Exxon, which promoted climate denial for years despite knowing about the risks since 1981, had shifted its tone on climate change under the leadership of Rex Tillerson. But while acknowledging global warming was real and linked to fossil fuel use, Tillerson said fears over climate change were overblown.
Darren Woods, who became the chief executive in 2017 when Tillerson became US secretary of state, has taken that shift further. “It will take the collective efforts of many in the energy industry and society to develop scalable, affordable solutions that will be needed to address the risks of climate change,” he said of the firm’s decision to join the OCGI.
Two other US oil companies, Chevron and Occidental Petroleum, have also joined the initiative, taking its total climate fund to $1.3bn....
