Chevron, the nation’s second largest oil and gas producer, is in the news this week as reports surface that long-time CEO John Watson is expected to step down. It’s no secret that Mr. Watson has too often lagged on his response to climate change. As the board selects a new CEO, it has a chance to turn a new leaf and move Chevron toward the right side of history on climate change, better positioning the company to address investor and social demands for cleaner energy and climate risk management.
Here’s what their new CEO should bring to the table:
A vision for how the company adapts and leads in the low carbon transition
Chevron withheld support for the Paris climate accord even as peers like Exxon and Shell supported it. Opposing the vast majority of the rest of the world is not an economically sustainable posture for a global company –and it creates unnecessary risks for shareholders. The board should select a CEO with a vision to adapt and lead in the transition to a cleaner energy economy. Simply acknowledging the reality of climate change is no longer enough – a 21st century energy leader also develops a sound business plan to navigate that reality and help the global community address one of its costliest challenges. Read More