Earlier this week,
I posted about ExxonMobil's shareholder disclosure.
The bookend to ExxonMobil's disclosure is the release of the Trillion Tonne Communique by the Prince of
Wale's Corporate Leaders Group. The Communique calls for
total carbon emissions to be capped at one trillion tons, a level
at which the signers have confidence that global temperature
increases can be kept at or below two degrees Celsius.
In order to attain the one trillion ton cap, the Communique
calls for a transition over the course of the century to
planet-wide net zero carbon emissions. In order to reach net
zero emissions, according to the signers, there will have to be a
"robust carbon price."
Although the Communique does not define robust, something tells
me that such a robust price is where the Communique's signers
and ExxonMobil probably part ways. I don't see ExxonMobil
supporting a robust carbon price, enforced by regulation, any time
soon.
