Exxon Mobil to Launch New Low Carbon Business on Climate

Under intensifying pressure from environmentalists, Exxon Mobil said Tuesday its new low carbon solutions will help position the oil giant for the future.

Exxon Mobil, which reported a hefty 2020 loss with the downturn in oil prices due to Covid-19, will advance its carbon capture and storage technology as a means to counter the emissions that cause global warming. 

The new business comes as activist investors have criticized Exxon Mobil for not matching renewable energy investments from rivals such as Royal Dutch Shell.