Chevron CEO vows ‘higher returns, lower carbon’

Bloomberg

Fresh from overtaking Exxon Mobil Corp as North America’s biggest oil company, Chevron Corp has a “simple promise” to investors: higher returns and lower carbon.
Delivering on that promise is critical: an activist investor announced a campaign targeting Exxon for failing on both counts.
“We’ve been able to remain very steady as others have had to change strategy, change dividend, change financial priorities,” Chevron Chief Executive Officer Mike Wirth said in an interview with Bloomberg TV. “For us it’s been a pretty simple promise of higher returns, lower carbon and you can count on us.”
One thing investors can’t count on is for Chevron to announce any long-term targets to eliminate or severely reduce emissions, as rivals Royal Dutch Shell Plc and BP Plc have. Chevron’s carbon goals are linked to reducing methane leaks and so-called emissions intensity, which means less pollution per barrel of oil produced. That leaves the company wiggle room to increase overall emissions in the future as crude output grows.