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Exxon Mobil Corp (XOM.N) has been suspended from the Climate Leadership Council (CLC) advocacy group which seeks to develop policies to tackle climate change, the CLC said on Friday.
The move comes just over a month after an Exxon lobbyist said the company publicly supported a carbon tax because the climate change plan would never gain enough political support to be adopted. Exxon CEO Darren Woods condemned the comments.
“After careful consideration, we have decided to suspend ExxonMobil’s membership in both the Council and Americans for Carbon Dividends, our advocacy arm,” CLC CEO Greg Bertelsen said in a statement.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| XON | n / A | n / A | n / A | n / A |
| COP | CONOCOPHILLIPS | 56.50 | +0.55 | + 0.98% |
| PA | BP PLC | 25.56 | +0.22 | + 0.87% |
| RDSA | n / A | n / A | n / A | n / A |
| TTE | TOTAL ENERGIES SE | 44.61 | +0.33 | + 0.75% |
Exxon was a founding member of the group along with ConocoPhillips (COP.N), BP (BP.L), Shell (RDSa.L) and total (TTEF.PA).
The CLC’s decision marks a turnaround after supporting the oil major in June after the lobbyist’s remarks.
EXXON PLANS TO PROMISE ‘NET ZERO’ CARBON BY 2050
Exxon said in a statement that the CLC’s decision was “disappointing and counterproductive.”
“It is more important than ever for organizations to work together to advance meaningful policy solutions to address common challenges and the company’s net zero ambitions,” he said.
Exxon Mobil Corp has been suspended from advocacy group Climate Leadership Council which seeks to develop policies to tackle climate change, the CLC said on Friday. (Carlos Javier Sanchez / Bloomberg via Getty Images / Getty Images)
The company said it will continue to be part of the Alliance for Market Solutions, an organization that also works to reduce carbon pollution.
The nonprofit World Resources Institute (WRI), a member of the CLC, said Exxon was not aligned with the council’s pressure to put a price on carbon as a key response to the climate crisis.
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“We welcome the separation of the CLC from Exxon,” institute CEO Ani Dasgupta said in a note, while calling on companies to support a carbon price in any future legislation that advances in Congress. .
“We urge all companies to re-examine their lobbying, political spending and participation in trade associations to ensure that their actions are fully aligned with their public statements on climate change,” Dasgupta said.
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