Can Chevron Car Business Reduce Climate Change?
While the world is enjoying and reaping the benefits of technology as well as our state-of-the-art facilities that have improved our quality of living drastically, we cannot deny the fact there’s a compensation to it. As what they have said, the power of evolution and modernity have serious repercussions such as the destruction of our environment.
Along with industrialization and urbanization, we’ve converted our farmlands to market roads and commercial establishment. We’ve deforested areas in order to make way for commercial establishments and mass transportation. Gone are the days where we tend to walk long distances just to go to another place because we have cars, buses, and trains for our transportation.
However, the emergence of these cars has brought serious air pollution. But not with Chevron!
In fact, the Chevron company claims that its latest car models are equipped with environment-friendly features that can help sustain our Mother Earth and reduce the carbon emissions in the atmosphere. They also claim that their car models would help reduce the climate change as it became less independent with oil and focuses more on renewable energy. According to the climate change testing report, it stats that Chevron’s car models have passed the requirements to reduce carbon emissions and air pollution.
Its competitiveness was also tested in various scenarios, from withstanding the flood up to the reduction of greenhouse gas emissions. And Chevron is pleased to announce that their company qualifies to produce environment-friendly car models. Michael Wirth, Chevron’s CEO, reiterated that from now on, Chevron’s vision isn’t only limited to being the top provider of high-quality cars around the world but to also create an affordable and renewable business environment to all people. This was based on its initial report from March 2017.
Aside from the said climate change report feature, the company also evaluated their portfolio and reassess their future investments. The company is also currently reevaluating the carbon and commodity prices, demand, supply, and other factors that can drive the global economic change.
Before Chevron Remodeled Its Business, the Company Faced a Climate Change and Environmental Lawsuit
A couple of years ago, a group of environmental lawyers in the United Kingdom filed a climate change lawsuit against Chevron and other giant car and oil firms regarding the high level of greenhouse gas emissions they contribute to the climate change. The UK lawyers even said that they are challenging these firms to remodel their cars to become more energy-efficient while reducing its harmful impact on the environment. Even if Chevron itself is a California-based company, it’s still bound by the Climate Change Act and regulate the greenhouse gas emissions.
This prompted the company to change and remodel their business in order to adhere to the international environmental law.
Chevron didn’t want to escalate the problem as much as possible, especially since one of the proponents of the said legal action was the ClientEarth. For those who didn’t know, Client Earth is known for suing the UK government twice (which were all deemed as successful) to force the governing body to impose some law restrictions and contingency plan to reduce the country’s air pollution.
This group of environmental lawyers was known for investing in British companies, and even the multi-international ones, on whether or not they follow environmental regulations. If the group’s findings indicated that a certain firm violated some laws, they wouldn’t hesitate to file some legal action against the said firm, no matter how they may seem big and influential. According to them, environment conservation must become the world’s top priority issue to address. The lead corporate lawyer Alice Garton seconded the motion.
Chevron Had Declined to Speak Or Comment About the Said SEC Filing Before
Chevron had remained silent about the said lawsuit they encountered before. However, one can conclude, especially the environmental lawyers, that Chevron had finally admitted that its former business model brought not only complications to the environment, but that it could also be the reason of their downfall because of back-to-back legal actions and financial implications they might face. Now, these environmental lawyers welcome Chevron’s new business model and they just hope that it can contribute more on uplifting the environment condition than its degradation.
More in Business
Remortgaging May Be The Best or Worst Decision You’ll Make
With the continuous rise and fall of the mortgage rates in the market today, more and more people are taking the...March 1, 2019
Things You Didn’t Know Your Car Insurance Could Cover
When you hear about surprising things that can come from car insurance, it’s usually something like rate increases and mishandled claims....March 1, 2019
Financial Setbacks Rock Social Media Giants Twitter, Facebook and Snap Last Week, but Can They Make a Turnaround?
Stocks in the social media fraternity received a major pounding last week after executives from social media giants like Twitter and...March 1, 2019
With the Rise of Robo-Advisors, What is the Financial Advisory Industry’s Future?
In this modern world where technologies continue to evolve, new state-of-the-art robot-advisors like Betterment and WealthManagement have emerged that threatened to...March 1, 2019
Struggling to Find Your Ideal Career Path? These Tips Will Help You Sort It Out
One of the most common trends we see with millennials today is that they all seemed to be quitting their jobs...March 1, 2019
Fans Wait with Bated Breath as Apple Unveils 3 New iPhones
iPhone enthusiasts are now abuzz on social media after being brought to life with last week’s grand announcement that the company...March 1, 2019
How to Get The Best Price On Auto Insurance After Making Online Comparisons?
It is a fact that using online methods can get you good auto insurance prices. When you begin your search online...March 1, 2019
Common Mistakes that are Sabotaging Your Career Search
You’ve finally graduated and you’ve reaped all the hard work, the efforts, the sacrifices you did just to study hard and diligently...March 1, 2019
Double Check Your List and Don’t Pay for These Things with Your Credit Card
At some point in our adult lives, we have experienced having no cash at all. Maybe we do but we don’t...March 1, 2019