Exxon Mobil Corp. was suspended from the Climate Leadership Council, a pro-carbon tax group backed by conservation groups and some of the world’s biggest corporations.
California gets enormous floods roughly once a decade, says geologist Jeff Mount. He says that now is the time to prepare.Exxon CEO Darren Woods apologized for the lobbyist’s comments at the end of June, saying they “in no way represent the company’s position,” and reiterated support for a carbon tax. The oil explorer already was under intense investor pressure to bolster emission-reduction efforts after an activist investor won a key boardroom battle that replaced a quarter of directors.
Support for a carbon tax to combat climate change is gaining momentum. Advocates say it would incentivize companies and consumers to pollute less. The American Petroleum Institute, the powerful oil industry trade group that counts Exxon among its members, endorsed such a policy earlier this year.
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