Exxon Raises 2050 Emissions Forecast, Sees Slower Coal Decline
XOM sits 47% above its 52-week low of $110.385.
Summary
ExxonMobil's annual energy outlook now projects 2050 global CO2 emissions at 30 billion metric tons, up from last year's 27 billion, implying a temperature rise of 2.5-3°C. The company also raised coal's expected share of the 2050 energy mix to 15% from 14%, citing energy security needs in Asia, and cut its carbon capture forecast to 2 billion metric tons from 3.1 billion. These revisions signal a less aggressive decarbonization trajectory and could pressure the company's climate-related investor sentiment. The outlook excludes the ongoing Middle East conflict, which Exxon says is too early to assess for long-term fundamentals.
At the time of this announcement, XOM was trading at $161.90 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $671.6B. The 52-week trading range was $110.39 to $176.41. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.