Exxon makes climate move

ExxonMobil is to invest $100million (£63m) in a project that will look at ways of substantially reducing greenhouse gas emissions.

The Global Climate and Energy Project will be led by Stanford University in the US and has financial backing from General Electric.

Exxon, which has been condemned by NGOs for its sceptical stance on global warming, said the project would seek ‘practical technologies to address the potential long-term risk of climate change’.