advancing climate solutions - 2022 progress report, July update

Resilient under net-zero pathways

Sustainable solutions

The Advancing Climate Solutions – 2022 Progress Report includes an analysis of ExxonMobil’s business and investment portfolio under the International Energy Agency’s (IEA) Net Zero Emissions by 2050 (NZE) scenario. 

The scenario illustrates the dramatic societal changes and massive levels of investment required, in a very short period of time, to achieve net-zero emissions by 2050. 

Although governments are not implementing changes at the level and pace assumed in the IEA NZE scenario, the detailed assumptions contained in the report allows ExxonMobil to further test the resiliency of our businesses and strategy.

The IEA’s assumptions, demonstrate the significant role ExxonMobil can play in the transition and the growth potential for chemicals, lower-emission fuels, carbon capture and storage, and hydrogen.

ExxonMobil is positioned to successfully compete in these businesses by leveraging existing differentiated capabilities and repurposing assets. Throughout the modeled period, IEA NZE’s assumed carbon price supports attractive investments in key growth areas that drive increases in cash flow. The Company’s core capabilities, experience and advantages in scale, integration, technology, project execution and people would remain critical success factors in this assumed transition path.