Exxon Mobil agrees to report on climate change's effect on business model

Suzanne Goldenberg

The oil giant Exxon Mobil has agreed for the first time to report on how climate change could affect its business model, campaign groups say. The groups said on Thursday that Exxon had agreed to prepare a public report on “carbon asset risk” – the prospect that the company might be forced to leave some of its oil and gas in the ground as a result of climate regulations. The campaigners said the move by Exxon was an important step forward in getting companies to recognise that oil, gas and coal holdings could potentially drop in value under climate regulations.