Chevron launches $300 mln fund to focus on low-carbon technology

Chevron Corp on Thursday said it had launched a $300 million fund focused on low-carbon technology, as traditional global oil and gas firms attempt to invest more in green energy and tackle climate change. Major energy firms have set targets...

Chevron launches $300 mln fund to focus on low-carbon technology
Chevron Corp on Thursday said it had launched a $300 million fund focused on low-carbon technology, as traditional global oil and gas firms attempt to invest more in green energy and tackle climate change. Major energy firms have set targets to reduce greenhouse gas emissions or are exploring investments in renewable energy and green technology amid rising pressure from investors and activists. Earlier this month, top U.S. oil producer Exxon Mobil Corp unveiled a carbon-removal technology venture that would directly compete with Occidental Petroleum Corp's efforts to develop the largest ever facility to pull carbon dioxide out of the atmosphere.