Chevron Corp. officially joined the energy transition movement on July 29 with the launch of Chevron New Energies, which will be led by Jeff Gustavson—the Chevron executive who previously oversaw the U.S. oil major’s shale operations.

“Chevron New Energies reflects our higher returns, lower-carbon strategy,” commented Chevron Chairman and CEO Michael Wirth in a company release.

Chevron, like other major oil and gas producers, has come under pressure to address climate change and reduce greenhouse-gas emissions. Recently, at the company’s annual shareholder meeting in May, Chevron’s shareholders voted overwhelmingly in favor of a proposal to cut emissions generated by the use of the company’s products, a move that underscores the growing push by investors at energy companies, in particular, to reduce their carbon footprint.

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