Hi everyone, welcome back to Net Zero.
Even among oil and gas majors, a group not known as climate crusaders, ExxonMobil stands out for the minimal amount of investment it has put into low-carbon ventures. But last week it made one of its biggest green(ish) moves to date, one that is revealing about the confidence Exxon has in the ability of carbon capture and storage to move from a niche side hustle to a core business offering — and puts it in pole position to grab one of the juiciest climate tax credits in the United States.
Also today: Companies buying carbon offsets don’t want to stop calling them “offsets,” and Prashant gets impressed by a fake steak.
If you like what you’re reading, spread the word.