Reported about 10 hours ago
ExxonMobil's CEO, Darren Woods, has stated that if the European Union does not relax its sustainability law, the company may have to cease operations in Europe. The law, which imposes strict requirements on companies regarding human rights and environmental risks, may lead to fines of up to 5% of global revenue. Woods argues that the legislation is overly ambitious and could create significant challenges for businesses, prompting ExxonMobil and other energy producers to lobby for revisions. The EU is currently considering changes to the law.
Source: YAHOO