US oil majors will decarbonise

Biden administration will start to have greater impact on company strategies as its carbon plans become substantive legislation

The Biden administration’s decarbonisation plans have to date have had little or no impact on corporate strategies of major US oil companies, Mike Coffin, a senior analyst with London-based not-for-profit Carbon Tracker, and Alastair Syme, a managing director at Us bank Citi, tell Transition Economist. “As of now, Biden’s plan is simply a work in progress and has had minimal impact,” says Syme, while Coffin says: “Too early to tell, I’m afraid.” This lack of impact contributed to the four largest US oil companies—ExxonMobil, Chevron, ConocoPhillips and Occidental—again lagging behind their six European peers in the decarbonisation rankings in Carbon Tracker’s Absolute Impact 2021 report, rel