Exxon will issue a report estimating the cost of climate change to its business, including a calculation of the carbon emissions its oil and gas operations give off. It’s the first big energy company to respond to shareholders’ concerns about environmental issues. Next: Caterpillar is the latest company to come under the scrutiny of the Levin committee looking at tax avoidance by multinationals. We look at some of the contortions companies make to avoid paying tax. Finally: UC Irvine announced yesterday that President Obama will deliver its commencement address in June, in front of 8,000 diverse graduates. We explore the economic value of a speech from the President.