Exxon Mobil to spend billions on new climate division

Exxon has read the writing on the wall and now establishes climate technology as a new business area.

Photo: Brendan Mcdermid/Reuters/Ritzau Scanpix

BY KELD LOUIE PEDERSEN

The pressure from critical investors has become so great that the world's largest privately owned oil company, Exxon Mobil Corp., now establishes a business unit that will focus on low-emission technology.

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