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From Common Dreams
Summary:
- Chevron CEO received a $26.5 million compensation in 2023, while the company reported $21.3 billion in profits.
- March 2024 was declared the hottest on record globally, with climate records continuously being broken.
- Chevron is one of the main contributors to global CO2 emissions, with oil giants like ExxonMobil investing heavily in new oil and gas reserves.
- Despite the urgent need for rapid reductions in greenhouse gas emissions, fossil fuel companies are rolling back climate commitments and continuing to drill.
The chief executive of the U.S. oil giant Chevron saw his pay jump by more than 12% in 2023 as continued emissions from fossil fuel corporations helped push global temperatures to record heights.
Citing a new securities filing, Reuters reported Wednesday that Chevron CEO Mike Wirth received $26.5 million in total compensation last year. Chevron, the second-largest oil company in the U.S. by revenue, reported $21.3 billion in profits in 2023—a haul it used to lavish shareholders with buybacks and dividends.
News of Wirth’s 2023 compensation came a day after the European Union’s Copernicus Climate Change Service (C3S) announced that last month was the hottest March on record globally. The organization said March marked “the 10th month in a row that is the warmest on record for the respective month of the year.”
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Read the full post at Common Dreams.
