Pope Francis

Big Oil backs carbon pricing, climate disclosures in meeting with Pope Francis

Top executives of Big Oil and investment companies ended a meeting Friday with Pope Francis by signing a joint statement supporting carbon pricing and transparent investments, according to the Vatican.

Driving the news: The shared statements signal a successful outcome for organizers, which included the Vatican and the University of Notre Dame, after last year’s initial meeting convened by Francis ended with no official, shared statement.

The agenda behind big oil and Vatican climate-change meeting

Pope Francis with the backs of men in suits.
Illustration: Lazaro Gamio/Axios

Carbon pricing and investment transparency top the agenda of a meeting later this week between leaders of the world’s biggest oil and investment firms and Vatican officials, according to multiple people close to the event and a draft agenda viewed by Axios.

Driving the news: The meeting, first reported by Bloomberg in April, comes almost exactly a year after the first gathering with Pope Francis. This time, organizers hope to produce a first-time joint statement with the Vatican supporting a price on carbon emissions and investment transparency relating to climate change, according to these sources.