Exxon outlines ‘net zero’ plan to reduce carbon emissions from its factories

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ExxonMobil on Tuesday announced a plan to reduce carbon emissions from the company’s operations – an indication that the energy giant is nodding to climate pressure from investors and competitors, even if its plan does not address not Exxon’s biggest source of emissions.

The largest energy company in the United States announcement a “net zero ambition” for the carbon pollution generated directly by its operations by 2050. The plan, which is not binding, means that oil and gas fields, refineries, service stations and buildings of Exxon’s company will capture more carbon than they emit into the atmosphere.

However, the plan omits the carbon pollution generated by consumers’ use of Exxon’s oil and gas extracts. Known as Scope 3 emissions, this consumer pollution accounts for 90% of a company’s carbon footprint.

In 2017, Exxon Oil and Gas Products emitted the equivalent of 1.3 billion metric tons of carbon dioxide, Houston Public Media reported – nearly double the annual carbon emissions of all of Texas.

“We are developing comprehensive roadmaps to reduce greenhouse gas emissions from our operated assets around the world, and where we are not the operator, we are working with our partners to achieve similar results. reduction in emissions,” CEO Darren Woods said in a statement. declaration Tuesday.

Exxon said it has identified more than 150 processes to reduce emissions from its operations, including electrification operations, equipment upgrades and fuel reduction. methane emissions at oil and gas sites.

But climate activists were quick to pillory Exxon’s plans, saying they fall far short of what is needed to stave off the worst effects of climate change.

“I don’t care if Exxon changes the light bulbs in their office: it’s the millions of barrels of oil they produce that’s the problem,” said Jamie Henn, climate activist and head of Fossil Free Media. Twitter.

Rich countries must cut plans for oil, gas and coal extraction by at least half to meet their stated climate ambitions in coming decades, says UN report recently found.

Last year, Exxon’s competitor Shell set a goal of achieving net zero emissions by 2050, including scope 3 emissions from the use of its petroleum products. The Norwegian oil company Equinor and the Spanish Repsol have announcement similar net zero goals.

Exxon has had a tumultuous few years as it grapples with investors and policymakers increasingly focused on the climate threat from burning fossil fuels.

Last June, Exxon shareholders elected three climate activists to the company’s board of directors in the face of fierce opposition from its management.

The company also suffered a backlash after one of its lobbyists was photographed describing Exxon’s efforts to discredit climate science and saying that Exxon support for a carbon tax was just a “talking point”. The revelations prompted a rare apology from Woods.


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