A lot of people are concerned about how climate change will affect energy sources, but ExxonMobil officials don't seem to be among them.
Coming in the midst of dire United Nations research studies about climate change, oil and gas giant Exxon has published a report outlining the company's plans to manage climate risk, according to The Guardian.
While the company acknowledged that climate change is a real risk, the report found that carbon-based fuels are still essential to cover the increasing demand for energy, said an Exxon news release.
"Our analysis and those of independent agencies confirms our long-standing view that all viable energy sources will be essential to meet increasing demand growth that accompanies expanding economies and rising living standards," William Colton, Exxon's vice president of corporate strategic planning, said in the news release.
Exxon said oil and gas will remain valuable sources of energy even as governments place restrictions on carbon emissions, saying it is "highly unlikely" that greenhouse gas emissions will be limited by 80 percent in the next 30 years, Reuters reported.
The company outlined plans to manage climate risk and said it is seeking ways to cut back on carbon emissions.
"It is equally essential that society manages the risk of climate change by increasing energy efficiency and by investing in research into technologies to reduce greenhouse gas emissions," Colton said in the news release.
Exxon predicts that 35 percent more energy will be needed worldwide by 2040 and that greenhouse gas emissions will level out during that same period, Reuters reported.
The Intergovernmental Panel on Climate Change released a report the same day as Exxon that said climate change will negatively impact economic growth and food sources.
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