ExxonMobil Adds Another $3 Billion to a Plan That Could Pay Big Dividends by 2030
ExxonMobil (NYSE: XOM) currently makes most of its money producing carbon-spewing fossil fuels. However, that could change by the end of this decade.
The oil company continues ramping up spending on projects to reduce emissions and build out several lower-emissions businesses. These investments could start paying off by 2030. Here's a look at ExxonMobil's lower-carbon strategy, which could create a lot of value for shareholders in the coming years.
ExxonMobil recently provided an update to its corporate plan. A key aspect of its strategy is reducing emissions (both those it produces and from its customers). The oil giant now plans to invest more than $20 billion in lower-emissions opportunities. That's a $3 billion increase from last year and the third time the company has increased its lower-carbon spending plan since launching the strategy three years ago.
Source Fool.com
