Jeff Ubben: net-zero emission targets are ‘irresponsible’

Jeff Ubben: net-zero emission targets are ‘irresponsible’

Two things to start: First, the FT's latestFuture of Energy report looks at the prospects for natural gas, wind power and carbon pricing as the world shifts away from its reliance on fossil fuels.

And second, activist hedge fund Engine No 1 told ExxonMobil it would face an "existential business risk“ by pinning its future on fossil fuels as governments move to slash emissions. Derek Brower and Justin Jacobs got the scoop. Calpers seems to agree: yesterday, it became the latest big pension fund to say it would vote for the activists' slate at Exxon's annual general meeting next month.

Welcome back to Energy Source. Our first item today sticks with Exxon “” and more specifically its activist board member Jeff Ubben “” who has hit out at "irresponsible“ net-zero emissions targets and defended the oil major's climate strategy.

Our second item is on carbon pricing and the case for introducing one in the US “” despite the policy's lack of popularity.

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Why Exxon won't go net zero

Jeff Ubben, the activist investor who was recently brought on to ExxonMobil's board, told a private