CNBC's Sam Meredith is reporting that Exxon Mobil CEO urges COP28 to focus on reducing emissions — not phasing out fossil fuels
At the COP28 climate summit, Exxon Mobil CEO Darren Woods emphasized the need to focus on reducing emissions rather than phasing out fossil fuels entirely. While many participants view a successful outcome of COP28 as an agreement to phase out all fossil fuels, Woods argues that the real issue is emissions. He suggests that addressing emissions could involve a variety of approaches and technologies, including decarbonizing current energy systems. This stance contrasts with the more radical calls for an outright end to fossil fuel usage, as advocated by U.N. Secretary-General António Guterres and others. Woods asserts that transitioning to a new energy system should be gradual and cost-effective, incorporating improvements in existing technologies. His comments reflect the broader debate at COP28 over the best approach to mitigate climate change, with some countries and industry leaders favoring a more gradual reduction in fossil fuel use, rather than a complete phase-out. Woods also defended Exxon Mobil's commitment to fossil fuels, citing a recent acquisition as a means to meet ongoing oil and gas demand more responsibly and efficiently, arguing that it benefits environmental and energy security objectives.
Source: CNBC
https://www.cnbc.com/2023/12/02/exxon-mobil-ceo-urges-cop28-climate-summit-to-focus-on-emissions.html
(This article was written with assistance from ChatGPT)
