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Pope Francis and Big Oil come together on carbon price

Pope Francis waves to the pilgrims gathered in St. Peter's Square. Photo: Franco Origlia/Getty Images

Top energy and investment executives attending a conference last weekend hosted by Pope Francis at the Vatican agreed a price on carbon emissions was essential in transitioning to cleaner sources of energy, according to multiple officials at the meeting.

Why it matters: This takeaway underscores how this particular policy is cementing itself as the preferred path among global oil companies in addressing climate change — even while it remains far out of reach in Washington, D.C.