ground zero - divestiture debate

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Ground zero ExxonMobil Perspectives blog post by Ken Cohen* on October 10, 2014, opens describing divestment as a "movement to get large institutional investors to divest their holdings of companies involved in producing fossil f uels. For one thing, divestment repres ents a diversion from the real search for technological solutions to managing clim ate risks that energy c ompanies like ours are pursuing. The industry-driven natural-gas boom in the United States is Exhibit A in this regard." . Mr. Cohen concludes: "The energy poverty numbers are as s taggering as they are h eartbreaking – 1.3 billion people lacking electricity, and 2.7 billion people using wood, charcoal, or dung for cooking fuel. The World Health Organization estimates that millions die each year just from air pollution caused by the use of p re-modern energy sources in peopl e’s homes, such as open fires for cooking or heating. . "A moral imperative exists – for policymakers as well as large energy companies – and it is to seek economic ways to expand the use of mode rn energy sources to the billions of people around the world currently living without them, and to do so in a manner that safeguards our environment. . "That’s what we will do at ExxonMobil. At the same time – as we have been doing for over a century – we will continue to invest in research to develop technology that makes our energy future better." . . This is the logi c that justifies continuing busin ess as usual. The devil is in the detail of the assumptions, which, not surprisingly are from the perspective of one corporation's self-interest. . . . * Ken Cohen is vice president of public and government affairs for Exxon Mobil Corporation. He has worldwide responsibility for the company’s public policy, government relations, communications, media relations and corporate citizenship activities. Douglas Grandt <[email protected]> Rex Tillerson <Rex.W.Tillerso [email protected] om>, David Rosenthal <David.S.Rosent hal@exxonmo bil.com> Ground Zero - divestiture debate 5 Attachments, 179 KB

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Page 1: Ground Zero - Divestiture Debate

8/10/2019 Ground Zero - Divestiture Debate

http://slidepdf.com/reader/full/ground-zero-divestiture-debate 1/5

http://www.exxonmobilperspectives.com/2014/04/14/the-worlds-largest-single-environmental-health-risk/

http://bit.ly/ExxMob10Oct

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http://www.api.org/~/media/Files/Policy/Jobs/Economic_impacts_Ong_2011.pdf

http://www.whitehouse.gov/the-press-office/2014/10/02/remarks-president-economy-northwestern-university

http://c/Users/MSROBI1/AppData/Local/Microsoft/Windows/Temporary%20Internet%20Files/Content.Outlook/QA2AEKGM/THE%20ALL-OF-THE-ABOVE%20ENERGY%20STRATEGY%20AS%20A%20PATH%20TO%20SUSTAINABLE%20ECONOMIC%20GROWTH

http://www.economist.com/news/leaders/21595002-current-policies-are-mess-heres-how-fix-them-worse-useless

http://www.exxonmobilperspectives.com/2014/04/23/lower-emissions-good-reason-to-celebrate/

http://www.cnsnews.com/news/article/patrick-goodenough/ban-ki-moon-s-new-climate-envoy-supports-divestment-fossil-fuel

http://www.un.org/apps/news/story.asp?NewsID=48785#.VDV9pb8o5Ms

http://www.exxonmobilperspectives.com/about/#ken

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http://theenergycollective.com/jemillerep/178096/expanded-wind-and-solar-power-increase-need-natural-gas

http://www.iea.org/aboutus/faqs/renewableenergy/

http://www.exxonmobilperspectives.com/wp-content/uploads/2014/10/Energy_Scale2_10-2014.jpg

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http://theenergycollective.com/jemillerep/178096/expanded-wind-and-solar-power-increase-need-natural-gas

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http://www.exxonmobilperspectives.com/2014/04/14/the-worlds-largest-single-environmental-health-risk/

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