‘We are not in the business of ice cream’: Big Oil CEOs defend themselves against climate criticism

CEOs of oil and gas majors did not have to worry about their emissions and the very business they were in, until a few years back.

Since 2010, they have been hit everyday with questions on how their companies plan to stop being climate villains and start doing something about climate change.

They have been defensive for almost a decade, and some CEOs even started to act highly positively by investing significantly in renewables.

Last couple of years has seen a trend in which the global oil & gas company CEOs have thrown away any pretensions they had put up about cutting down on oil & gas supplies. They have grown more confident in publicly stating what many of us had been talking anyway. Here are some frank insights from the CEO of Petronas:    

  • CEOs of major energy companies acknowledge challenges in pleasing everyone during the planned energy transition amid global climate protests. Executives at the ADIPEC conference express a positive tone regarding the current state of the fossil fuel industry despite recent climate protests.

  • The recent U.N. report confirms that the world is not on track to meet the long-term goals of the 2015 Paris Agreement to limit global warming to 1.5 degrees Celsius.

  • "The biggest challenge is harder to address than even the innovation around technology is just getting people to trust our industry again” - Vicki Hollub, CEO of Occidental Petroleum.

  • “ If you want to keep everyone happy, sell ice cream , The indication here is we have to make some tough decisions and we have to be bounded by facts, rationality, practical steps but we will get there,” - Tengku Muhammad Taufik, President and Group CEO of Petronas

  • https://www.cnbc.com/2023/10/02/climate-and-energy-big-oil-ceos-defend-themselves-against-criticism.html

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