Exxon Mobil To Invest $3 Billion In Carbon Capture and Other Projects To Lower Emissions

An anonymous reader quotes a report from The New York Times: Exxon Mobil, which has long been criticized by environmentalists and some investors and elected leaders for not doing enough to curb climate change, said on Monday it would invest $3 billion over the next five years in energy projects that lower emissions. The company said the first area it would work on is capturing carbon dioxide emissions from industrial plants and storing the gas so it does not enter the atmosphere, where it contributes to global warming. Many climate experts have said that such carbon capture and sequestration will be critical in the fight against climate change. Exxon said it was creating a new business called ExxonMobil Low Carbon Solutions and is working on 20 carbon capture projects around the world, including in Texas, the Netherlands, Singapore and Qatar.

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