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Clark

Exxon Rejected Net Zero Pitch After Proxy Loss, Citi Banker Says

Bloomberg

Exxon Mobil Corp. rejected a pitch from a Citigroup Inc. senior investment banker to commit to a target for net zero emissions even after shareholders staged a revolt over the company’s climate policy. […]

– “They looked at me and said, ‘That’s great, but we don’t know how we would get there. We can’t commit to that if we don’t have a plan to get there,’” he said Thursday during the webcast of an event hosted by Rice University’s Baker Institute for Energy Studies and law firm Baker Botts LLP. “I assured them most companies today who have committed to net zero don’t have a plan on how to get there, but they’re working to get there.”

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The market can’t do it. Capitalism can’t fix the problem.

We need to use less energy. We need to economise!