XOM - COP28 Climate Summit: A Moment Of Reckoning For Oil Execs Or Just Déja Vu? | Benzinga
This year’s United Nations Climate Change Conference, or COP28, kicked off on Thursday in Dubai.
Nations expressed renewed commitments to reduce their reliance on fossil fuels — deemed a moment of reckoning for oil companies.
COP28 President and UAE leader Sultan Al Jaber said at the opening plenary on Thursday: “Let history reflect the fact that this is the Presidency that made a bold choice to proactively engage with oil and gas companies. We had many hard discussions. Let me tell you, it wasn’t easy.”
Over the next 12 days, agendas are packed with seminars and discussions on decarbonizing industry, renewable energy, how new technologies will be leveraged to combat climate change and many other topics designed to send shivers down the spines of fossil fuel producers and their investors.
But in reality, will anything have changed for oil and gas-producing nations and companies after this event?
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