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Oil and gas group, BP's annual shareholder meeting on Tuesday was disturbed by the protestors. “this is a crime scene” was the frequent noise disrupting the meeting. Shell, on the other hand, has been praised by the investors for its recent emissions policies. Both the companies are working with the shareholders to meet the 2015 Paris climate agreement. BP's overall carbon emission were the highest in 2018 in six years.
One of the world's leading LNG plant builders, Chiyoda Corp has been hit by a hurricane at its Cameron LNG project in Louisiana. This has made the Japanese trading house Mitsubishi Corp and MUFG Bank decide to help rescue the plant engineering company. The firms will assist Chiyoda with a $1.4 billion lifeline. Mitsubishi has 33.4% stakes in Chiyoda and has saved the company twice in the past.
Equinor has assured its support to the goals of 2016 Paris Agreement. The company said, "Equinor is committed to playing an active and positive role in society’s decarbonisation through engagement, technology, operations, innovation and investments. Our activities do not include direct engagement with end users of products". It has informed about its climate change targets through a statement prepared jointly with other investors participating in the Climate Action 100+ initiative.
The steps taken by Shell to reduce carbon footprint has made an investor group "Follow This", withdraw its filing for 2019. Initially, the activist shareholder filed climate change resolutions for three years in order to pressurise Shell. Follow This' founder informed that after “intensive discussions with the investors who have voted for our resolution in the past”, the company has decided to pull back its filing.
Supermajor, ExxonMobil has been slammed with a new lawsuit by the New York Attorney General. The lawsuit alleges Exxon of misleading investors about its readiness to overcome the financial challenges posed by climate change to their business. The suit follows a three-year legal fight against Exxon. Spokesman for Exxon, referring to the allegations as baseless, said that the New York AG’s office is yet to find any evidence against Exxon.
Exxon Mobil yesterday informed about discontinuing its membership of American Legislative Exchange Council (ALEC). Exxon had a public argument with ALEC last year over climate-change policy. Exxon's departure has come in light when corporate giants like Ford Motor Co. and Expedia Group Inc. have already departed the lobbying group, owing to ALEC's stance on climate rules, renewable energy and other issues.
Energy Secretary Rick Perry delivered a keynote speech yesterday at the World Gas Conference 2018, organized in Washington. Perry, while addressing thousands of industry personnel from around the world, pushed natural gas as an environmentally friendly fuel amidst concerns raising over a study that found natural gas to be far more destructive to the climate than previously thought.
In an attempt to reduce emissions affecting the climate, ExxonMobil Corp. plans to reduce the amount of natural gas it burns by a quarter within two years. It is reported that the efforts shall be focused on oil wells off the coast of West Africa for in that region gas produced alongside crude is routinely burned – the process called flaring – because there’s no way to haul it to markets.
Latest data from the Britain government showed that Britain's GHG emissions fell by 3% from 2016 levels owing to decline in coal-fired power generation plants. Britain is the second largest heat-trapping gases emitter behind Germany. The report also revealed that Britain's GHG emissions have fallen 43 percent since 1990. A significant investment in renewable energy has resulted this drastic change.