Major oil companies, particularly ExxonMobil, appear to be softening their earlier resistance to climate-change regulations, with calls for the U.S. to adhere to the Paris accord. This signals a potential shift in corporate perspectives on climate responsibilities following past hostile governmental policies.
Recent developments suggest that major oil corporations are beginning to alter their positions regarding climate-change regulations. A significant indicator of this shift is the CEO of ExxonMobil advocating for the United States to remain aligned with the Paris climate accord. This stance contrasts sharply with the previous administration’s approach, particularly under former President Donald Trump, who withdrew the U.S. from the agreement during his tenure.
The ongoing discussions at the UN’s climate-change summit held in Baku, Azerbaijan, underscore the challenges in global climate cooperation, especially in the context of past U.S. policies. Former President Trump displayed an overt hostility toward climate science and fossil fuel regulation, yet subsequent developments indicate a possible re-embrace of international climate commitments by U.S. oil companies under pressure to respond to climate change and public expectations for action.
In summary, the evolving attitudes of major oil firms towards climate-change policy may reflect broader corporate acknowledgment of the urgent need for effective climate action. The advocacy for adherence to international agreements such as the Paris accord represents a potential pivot in the oil industry’s approach, marking a significant change in the landscape of energy and environmental regulation.
Original Source: www.economist.com
