Publication date: February 27, 2024
ExxonMobil's CEO Discusses Responsibility for Emissions Costs

ExxonMobil's CEO Discusses Responsibility for Emissions Costs

Darren Woods argues the burden of emissions reduction costs should fall on more than just the oil industry.

Energy Debate

During a conversation on Fortune’s Leadership Next podcast, ExxonMobil CEO Darren Woods emphasized a 'dirty secret' about the push for net-zero emissions: its cost and who bears it. Woods argued that while the oil industry has played its part in emissions reduction, the financial burden of achieving further reductions should not fall solely on the industry. The CEO highlighted the significant costs associated with transitioning to a net-zero economy and called for broader participation, including from civilians, in bearing these costs. This stance reignites the debate on financial responsibility for climate change mitigation within energy discussions.