The chief of ExxonMobil is pressing President-elect Donald Trump to stay in the Paris accord on climate, saying another withdrawal would confuse investors.
Darren Woods, who has been Exxon’s CEO since 2017, said the business world doesn’t want to have “the pendulum swing back and forth as administrations change.”
“I don’t think the stops and starts are the right thing for businesses,” Mr. Woods told The Wall Street Journal in a story published Tuesday. “It is extremely inefficient. It creates a lot of uncertainty.”
The position puts the energy behemoth at odds with Mr. Trump, who withdrew America from the Paris agreement during his first term and is expected to exit again after President Biden rejoined in 2021.
Mr. Woods made the comments while he was attending the United Nations’ climate meeting, or COP29, in Baku, Azerbaijan.
The Paris accord is an international treaty that started in 2016. It sets goals for limiting greenhouse gas emissions and ensuring that average global temperatures don’t rise at dangerous levels.
Exxon has supported the Paris deal since its inception. Though decried by climate activists as a major driller, Exxon has invested in a diverse portfolio of carbon-cutting projects. In 2023, it announced it would become a leading producer of lithium, a major component in batteries for electric vehicles.
The company’s reaffirmation of the Paris pact could anger Mr. Trump. The incoming president is skeptical of global alliances, has been pushing a “drill, baby, drill” mantra and chastised Mr. Biden for his electric vehicle mandate.
At the same time, Mr. Trump brought electric car mogul Elon Musk into his fold, which may soften his views on climate change, which the president-elect calls a hoax.
Mr. Woods told the Journal that Exxon’s balanced approach to fossil-fuel drilling and other aspects of its portfolio would continue in the second Trump administration.
“We don’t let political agendas drive our business and investment decisions we make,” Mr. Woods said.
• Tom Howell Jr. can be reached at thowell@washingtontimes.com.
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