Over 30 Guyanese wrote last month to some ExxonMobil’s shareholders to press for the oil major to disclose an updated risk assessment, flaring data and emergency response plans pertaining to the Liza Phase 1 project offshore Guyana.
The move was prompted by a recent statement by the Coalition United for a Responsible Exxon (CURE) group of shareholders indicating that that the company’s problematic large scale portfolio investments are incompatible with the Paris Agreement.
“We note CURE’s statement that Exxon’s current direction is premised on outdated assumptions about high oil prices, demand, and margins that are incompatible with the reality of climate change and the inevitable transition to renewable energy sources… We believe you should look carefully at Exxon’s large scale portfolio investments in Guyana,” the May 24 letter, released by citizens group A Fair Deal for Guyana, says.
