Exxon Mobil on Wednesday set annual capital spending through 2027 at $20 billion to $25 billion, allocating money to low-carbon projects and extending its previously projected spending rate for two years.
Brazilian pulp and paper maker Suzano's chief executive Walter Schalka said on Wednesday that a market price of $12-$13 dollars per tonne for carbon could support the regeneration of one hectare of natural forest.
Copper mining giant Freeport-McMoRan Inc is converting its fleet of diesel trucks and other machinery to electric or hydrogen power, a transition required to fight climate change even though the costs are not yet known, Chief Executive Richard Adkerson said in an interview at the Reuters Next conference.
Exxon Mobil will brief Wall Street on Wednesday on its future spending plans, with investors looking for how it will balance oil and low-carbon initiatives without compromising shareholder returns.