Exxon to disclose climate policy impact on business

New York: ExxonMobil, the world´s largest publicly-traded oil company, bowed to investor pressure and will soon begin disclosing how policies to combat climate change could impact its business, according to a document filed with US regulators.

The move follows the decisive victory of a shareholder proposal in May, which called on Exxon to examine how the fight against global warming could affect the company´s bottom line. The board of directors of the Irving, Texas-based company has opposed the measure but announced that “in the near future” it will publish the estimated impact of climate policies, according to a statement filed with the Securities and Exchange Commission on Monday. “These enhancements will include energy demand sensitivities, implications of two degree Celsius scenarios and positioning for a lower-carbon future,” the statement said, referring to the Paris agreement to cap the increase in global temperatures.