Overview
- Speaking at ADIPEC on Nov. 3, Exxon CEO Darren Woods warned the Corporate Sustainability Due Diligence Directive would have "disastrous consequences" and could force the company to leave Europe.
- Woods said the measure would require a Paris 1.5°C‑aligned transition plan across all of Exxon’s global operations, which he described as technically unfeasible.
- Qatar’s energy minister and QatarEnergy CEO Saad al‑Kaabi said the company could halt LNG shipments to Europe and has contingency plans prepared.
- The proposal would obligate companies doing business in the bloc to address human‑rights and environmental risks across their supply chains beyond Europe and carries potential fines of up to 5% of global revenue.
- Europe relies heavily on U.S. and Qatari LNG, with American supplies covering roughly half of EU imports in 2024 and Qatar providing about 12%–14% since 2022, as lawmakers prepare a mid‑November plenary vote on the measure.