{"id":18354,"date":"2016-02-27T11:12:27","date_gmt":"2016-02-27T16:12:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18354"},"modified":"2016-02-27T11:12:27","modified_gmt":"2016-02-27T16:12:27","slug":"major-investors-pressure-exxonmobil-to-consider-climate-impacts","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18354","title":{"rendered":"Major Investors Pressure ExxonMobil to Consider Climate Impacts"},"content":{"rendered":"<h3 id=\"page-title\" class=\"page__title title\"><a href=\"http:\/\/www.desmogblog.com\/2016\/02\/26\/major-investors-pressure-exxonmobil-consider-climate-impacts\" target=\"_blank\">Major Investors Pressure ExxonMobil to Consider Climate Impacts\u00a0<\/a><\/h3>\n<article class=\"node-10343 node node-blog node-promoted view-mode-full clearfix\">\n<header>\n<p class=\"submitted desktop-only\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.desmogblog.com\/sites\/beta.desmogblog.com\/files\/styles\/full_width_blog_image\/public\/blogimages\/image002%20%281%29.jpg?itok=9yfV0SgD\" alt=\"\" width=\"408\" height=\"306\" \/><\/p>\n<\/header>\n<div class=\"horizontal-social-bar horizontal-social-bar-top clearfix\"><span class=\"dquo\">\u201c<\/span>For the first time, in my memory, we are actually seeing oil and gas majors talk about climate change as an existential threat. Today for example the minister for oil and gas for Saudi Arabia,\u00a0<a href=\"http:\/\/www.pennenergy.com\/articles\/pennenergy\/2016\/02\/ihs-ceraweek-saudi-oil-minister-is-confident-global-oil-market-will-rebound-but-short-term-is-here-to-stay.html\" target=\"_blank\">Ali Al-Naimi,<\/a>\u00a0actually got up on stage in front of this entire group and said that climate change is more of an existential threat to the industry than any down cycle.\u201d<\/div>\n<div class=\"field field-name-body field-type-text-with-summary field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\nThis is what Shannon Cleveland, head of\u00a0<a href=\"http:\/\/www.ceres.org\/issues\/carbon-asset-risk\" target=\"_blank\">Ceres\u2019 Carbon Asset Risk Initiative<\/a>, told DeSmog from Houston where she is attending the premier annual oil industry gathering known as\u00a0<a href=\"http:\/\/ceraweek.com\/2016\/\" target=\"_blank\"><span class=\"caps\">CERA<\/span>week<\/a>.<\/p>\n<p>\u201cThat is just a message \u00a0\u2014 that even with things as bad as they were in 2015 \u2014 no one was talking about here at\u00a0<span class=\"caps\">CERA<\/span>week last year,\u201d Cleveland continued. \u201cI think there is actually an opportunity for this industry to start shifting.\u201d<\/p>\n<p>Ceres is a group that,\u00a0<a href=\"http:\/\/www.ceres.org\/about-us\/who-we-are\" target=\"_blank\">according to its website,<\/a>\u00a0works with investors \u201cto weave sustainable strategies and practices into the fabric and decision-making of companies, investors and other key economic players.\u201d<\/p>\n<p>Another sign of the shift was Al-Naimi\u00a0<a href=\"http:\/\/www.pennenergy.com\/articles\/pennenergy\/2016\/02\/ihs-ceraweek-saudi-oil-minister-is-confident-global-oil-market-will-rebound-but-short-term-is-here-to-stay.html\" target=\"_blank\">saying<\/a>\u00a0that, \u201cSolar is definitely going to be the answer to energy\u2019s future.\u201d This hasn\u2019t been the typical messaging at past\u00a0<span class=\"caps\">CERA<\/span>week events. However, the question that is critical for addressing climate change is \u2014 how far in the future?<\/p>\n<p>Because Al-Naimi also noted that Saudi Arabia is exploring fracking technology to produce oil and gas and promised that, \u201cWe will produce it one of these days.\u201d It\u2019s unlikely Al-Naimi will join the \u201c<a href=\"http:\/\/www.commondreams.org\/news\/2015\/11\/04\/introducing-keep-it-ground-bill-sanders-goes-big-climate\" target=\"_blank\">keep it in the ground<\/a>\u201d movement any time soon.<\/p>\n<p><strong>ExxonMobil Still Fighting Climate Change Action<\/strong><\/p>\n<p>One of the requests investors are making of oil companies is the testing of portfolios against a scenario where global temperature rise is limited to no more than 2 degrees.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>Major Investors Pressure ExxonMobil to Consider Climate Impacts\u00a0 \u201cFor the first time, in my memory, we are actually seeing oil and gas majors talk about climate change as an existential threat. Today for example the minister for oil and gas for Saudi Arabia,\u00a0Ali Al-Naimi,\u00a0actually got up on stage in front of this entire group and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,4],"tags":[113,141,146,5317,1041,4086,11782],"class_list":["post-18354","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-environment","tag-carbon-emissions","tag-climate-change","tag-co2-emissions","tag-desmog-blog","tag-exxonmobil","tag-investments","tag-justin-mikulka"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18354"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18354\/revisions"}],"predecessor-version":[{"id":18355,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18354\/revisions\/18355"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}