ExxonMobil CEO Warns EU Sustainability Law Could Force Exit from Europe

ExxonMobil CEO Darren Woods has warned that the company may pull out of Europe if the Corporate Sustainability Due Diligence Directive (CSDDD) is not significantly revised. 

The directive, adopted by the European Union, requires companies operating in the bloc to tackle human-rights and environmental risks across global supply chains. Firms found non-compliant could face fines up to 5 % of their global revenue. 

Woods argued the law creates excessive regulatory burden and uncertainty. He said staying competitive in Europe under its scope would become “impossible”. 

ExxonMobil has already scaled back European investments, including putting on hold a €100 million plastics-recycling plan. 

The company is now actively lobbying for change and coordinating with business groups globally. 

Negotiations are ongoing in Brussels, with final details expected by year-end. However, Woods said current amendments do not go far enough to ease the strain on global companies.