EnergyWatch

Chevron says climate change fallout no quick threat to oil, gas

Certain investors are asking for more insight into the impact of climate change on oil businesses. Chevron said in a report Thursday that the climate change effect will be minimal for decades.

Climate change is critical to future energy markets but its effect on Chevron Corp.'s oil and gas business will be minimal for decades to come, the company said in a report Thursday.

With the prospect of tighter emission controls, carbon pricing and growth in renewable energy, some investors and activists are pushing companies to reveal the potential impact on their businesses. The risk for shareholders is that some projects become loss-making as the demand for oil and gas ebbs.

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