ExxonMobil has warned it may withhold billions in climate-related investments in Europe unless Brussels removes some environmental red tape, which the company blames for the “deindustrialisation of the European economy,” Alice Hancock and Henry Foy of The Financial Times reports. President of ExxonMobil’s Product Solutions division Karen McKee told the Financial Times that the company set aside $20B to invest in decarbonization products between 2022 and 2027. However, McKee added that the company will prioritize “other parts of the world” amid frustration at the regulatory burden of getting projects off the ground in Europe.
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