ExxonMobil Urges Trump to Maintain U.S. Commitment to Paris Agreement

In a significant development, the CEO of ExxonMobil Darren Woods asked former President Donald Trump to avoid withdrawing the United States from the Paris Climate Agreement if he resumed his duties. Woods emphasized the importance of stable climate policies for long-term business planning, stressing that erratic changes could harm industries based on predictable regulatory frameworks. He noted that policy stability was essential to promote innovation in clean energy technologies.

ExxonMobil’s position reflects its long-standing support for the Paris Agreement, which it has supported since its creation in 2015. Despite being an important player in the oil and gas industry, ExxonMobil has taken steps to reduce emissions and invest in carbon capture technologies. The company’s alignment with the global climate pact aims to ensure sustainable growth while balancing environmental considerations.

Meanwhile, the largest oil and gas sector, represented by the American Petroleum Institute (API), has been largely forced to register climate-based regulations. The API encouraged the Trump campaign to eliminate several measures adopted under the administration of Biden, including higher methane emission rates and vehicle emission standards. This divergence highlights internal discussions in the energy sector on the future of US climate policy.

The possible withdrawal of the Paris Agreement raised concerns among international stakeholders. At the current COP29 climate summit, negotiators highlighted the risks of losing momentum in global climate action. A withdrawal from the United States could undermine international commitments and disrupt business progress in line with carbon reduction targets.

As discussions progressed, the promotion of ExxonMobil to remain in the Paris Agreement meant a strategic position to ensure corporate resilience and global cooperation on climate issues. The decision whether the United States continues to participate in the agreement is likely to have a significant impact on environmental policy and economic interests.

Sources:https: / / www.wsj.com / business / energy-oil / exxon-says-trump-showd-keep-u-s-in-paris-climate-pact-3d8de471https: / / www.reuters.com / business / energy / us-oil-industry-urges-trump-ditch-biden-climate-policies-2024-11-12https: / / www.reuters.com / sustainability / climate-energy / esg-watch-cop29-delegates-look-rays-hope-climat-action-amid-gloom-about-tromp-2024-11-13