Chevron Backpedals Again on Renewable Energy


Elgin, Ben [2014], “Chevron Backpedals Again on Renewable Energy”, Business Week, New York, 09 de junio,

Business Week
Fecha de publicación: 
Lunes, Junio 9, 2014
Idea principal: 

Chevron's slogan may be finding newer, cleaner ways to power the world. But America's second-biggest oil company continues a retreat from businesses that develop renewable energy. In its latest move, Chevron is selling off at least a portion of its clean-energy subsidiary, dubbed Chevron Energy Solutions, which builds solar arrays and energy-saving retrofits for such customers as school districts and local governments. Oaktree Capital Management, a private equity firm in Los Angeles, is buying at least part of Chevron Energy Solutions, according to current and former employees as well as a government customer who was briefed on Jun 5 by Chevron about the transaction. Chevron's recent moves away from clean energy are concerning to some who fear the company won't be ready for low-carbon alternatives, if governments take meaningful action to address climate change.