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Tillerson
Photo: (Mike Stone, AP)

Exxon CEO on renewable energy: ‘We choose not to lose money on purpose’

Exxon Mobil Corp. is unlikely to adopt a climate change resolution initiative, the Houston Business Journal reports. CEO Rex Tillerson and shareholders collectively rejected environmental activists’ proposals for climate-conscious additions, including a global warming expert on the board of directors.

Activists in the company’s home base of Irving ultimately hope the company shift their focus away from oil and gas and elect to produce renewable energy—a proposal Tillerson said would generate suitable profit.

“We choose not to lose money on purpose,” he said.

Shareholders seemed to share Tillerson’s reluctance to address environmentalists’ concerns. Only 21 percent voted to appoint a global warming expert, less than 10 percent voted for a greenhouse gas resolution and a request for a report on fracking’s environmental impact was rejected.

“Mankind has this enormous capacity to deal with adversity,” Tillerson told the Associated Press. “I know that is an unsatisfactory answer to a lot of people.”

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