In brief
Woods emphasizes the importance of government incentives and common-sense policies to combat climate change.
Darren Woods, the chief executive of Exxon Mobil, has publicly cautioned President-elect Donald J. Trump against withdrawing the United States from the Paris climate agreement. Speaking at the COP29 summit in Baku, Azerbaijan, Woods argued that such a move could create a significant vacuum and hamper meaningful discussions regarding global climate initiatives. In his remarks, Woods noted that the climate negotiations represent an opportunity for Trump to embrace pragmatic policymaking. He stated, “We need a global system for managing global emissions,” and expressed hope that the incoming administration could bring a reasoned approach to climate issues. Woods also highlighted the necessity for government-led incentives that would guide energy companies towards more sustainable practices while maintaining profitability. “The government role is extremely important," he stated, adding that current efforts have not achieved sufficient success. Woods’ presence at the summit is particularly noticeable as many prominent leaders, including President Biden, chose to forgo attending the talks in Azerbaijan, a country rich in oil resources that was formerly part of the Soviet Union. Notably, leaders from major oil companies like Shell and Chevron also opted out of the summit, leaving Woods as one of the few top oil executives participating in the climate discussions.
