ExxonMobil, Stanford Team Up on Climate Change

ExxonMobil, Stanford Team Up on Climate Change
January 1, 2003

ExxonMobil will make a $100 million grant to Stanford University in furtherance of its research into climate change science, ExxonMobil Senior Issues Advisor Walt Buchholtz announced November 20 at the American Petroleum Institute's Conference on Voluntary Actions by the Oil and Gas Industry to Address Climate Change.

The grant will fund the Global Climate and Energy Project (G-CEP), which will be led by Stanford University and involve world-renowned academic research institutions and global companies, including ExxonMobil, General Electric, and Schlumberger.

“We are convinced the Global Climate and Energy Project will make significant academic and private sector contributions to the development of practical technologies to address the potential long-term risk of climate change,” said ExxonMobil Chairman and CEO Lee Raymond. “ExxonMobil is proud to work with a university of the reputation, experience, and ability of Stanford, and to be among the select group of sponsors coming together to make this project happen.”

Said Raymond, “We believe that G-CEP will play a cutting-edge role in pushing the frontiers of technology into new generations of energy systems. For ExxonMobil, G-CEP represents a powerful vehicle by which energy science will move forward to find economically attractive technologies that will be successful in the global market and vital to meeting energy needs in the industrialized and developing world.”

“The Secretary of Energy gave its heartiest congratulations to Stanford University and its sponsors, including ExxonMobil ... in providing an excellent example of what can be accomplished through voluntary programs,” Larisa Dobriansky, senior policy advisor for the U.S. Department of Energy, told attendees at the API conference.