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Chevron Corp. has inked eight deals in little more than two weeks to invest in hydrogen, green jet fuel and renewable natural gas.

Amid rising shareholder pressure on climate issues, Chevron is pro-actively forging climate-friendly joint ventures with an array of startups as well as corporate giants that include Caterpillar, and Alphabet’s Google.

The moves come just months after tiny activist fund Engine No. 1 put the oil industry on notice that the days of ignoring appeals from climate-conscious investors are over. In a stunning reversal, Exxon Mobil was forced to surrender 25 percent of its board seats to outsiders after Engine No. 1 persuaded the oil titan’s largest shareholders to rebuff company leadership.

Chevron Chief Executive Officer Mike Wirth is expected to flesh out his “higher returns, lower carbon” strategy on Sept. 14 at the oil explorer’s first-ever ESG-focused investor day, titled “Energy Transition Spotlight.”

Dissenting shareholders already have made their displeasure known by approving an emissions-reduction proposal in late May that had been panned by the board of directors.

[Kevin Crowley]

More: Chevron polishes climate bona fides ahead of investor pitch

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