ExxonMobil announced that it will become the first founding member of the newly formed Stanford Energy Strategy Federation. The purpose of the Alliance is to seek ways to reduce environmental impact while improving energy access, safety and technological capabilities.
Exxon Mobil will provide $20 million to the Federation within five years to fund low carbon energy solutions research projects. The predecessor of the Federation is the Global Climate and Energy Project (GCEP), which was established in 2002 and is also led by Stanford. It focuses on low-carbon emissions and high-efficiency energy technologies. ExxonMobil is a founding member and has funded specific projects in addition to the $100 million it has pledged to fund.
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