Energy & Carbon Summary

ExxonMobil has a long history of responsibly meeting society‘s evolving need for energy in a reliable and sustainable manner. With a longstanding commitment to investments in technology and the ingenuity of our people, we are well positioned to continue to provide the energy that is essential to improving lives around the world, while managing the risks of climate change.

Energy is essential. Accessible and affordable supplies of energy support our ability to meet the basic requirements of life, and power society's progress around the world. 

Under most third-party scenarios that meet the objectives of the Paris Agreement, oil and natural gas continue to play a significant role for decades in meeting increasing energy demand of a growing and more prosperous global population. 

This Energy & Carbon Summary describes how we at ExxonMobil will play an important role in meeting society’s need for energy and at the same time support efforts to mitigate the risk of climate change, as reflected in the four pillars of our climate strategy: mitigating emissions in our operations, providing products to help customers reduce their emissions, developing and deploying scalable technology solutions, and proactively engaging on climate-related policy.

ExxonMobil strives to deliver superior results while providing products and services that are essential to the health and welfare of billions of people around the world. We are committed to providing reliable and affordable energy to support human progress while advancing effective solutions that address the risks of climate change. 

ExxonMobil is working to be part of the solution.

Read the Executive summary

Delivering real results to address the risks of climate change

 

With a longstanding commitment to investments in technology and the ingenuity of our people, ExxonMobil is well positioned to continue to provide the energy that is essential to improving lives around the world, while managing the risks of climate change.

 

What we've done

2020 emission reductions

15% reduction in methane emissions*

25% reduction in flaring*

*compared to 2016 levels

Since 2000

~520M

tonnes of greenhouse gas emissions eliminated or avoided from operations.

Equivalent of removing 110M passenger vehicles off the road for a year.

Since 2000

>$10B

invested to research, develop and deploy lower-emission energy solutions

Enabled customer emission reduction

We are delivering products and solutions that enable customers to meet product performance requirements while reducing their emissions and improving energy efficiency across the supply chain.

Products and solutions include:

R&D Investment

Our sustained investment in R&D plays an important role in positioning ExxonMobil to develop breakthrough solutions in areas such as carbon capture, biofuels, hydrogen, and energy-efficient process technology.

Investments primarily focused on reducing emissions from the three sectors that emit 80 percent of all energy-related greenhouse gas emissions: power generation, industrial, and commercial transportation.

Invested in technology that could capture more than 90 percent of CO2 and prove up to six times more effective than conventional technology.

Partnered with governments, academia, and industry to research and commercialize biofuels, direct air capture, and lower the cost of carbon capture and storage to help support society's ambition of net-zero emissions by 2050.

What we're planning to do

We recently announced a plan to further reduce greenhouse gas emissions in our global operations by 2025, while aiming for industry-leading greenhouse gas performance by 2030. This plan represents some of the most aggressive reductions in the industry.

Driving emissions down

The 2025 plan*

15-20%

reduction in greenhouse gas intensity of our Upstream operations

*ExxonMobil's emission reduction plans are compared to 2016 levels and cover Scope 1 and Scope 2 emissions from assets operated by the company.

Supported by

40-50%

reduction in methane intensity

___________________________

35-45%

reduction in flaring intensity

Expected to deliver

~30%

reduction in absolute greenhouse gas emissions in our Upstream business

___________________________

40-50%

reduction in absolute flaring and methane emissions

Our efforts

ExxonMobil aspires to position itself as a leader in providing energy while evolving the energy system. Through these four elements, we ensure that processes and programs are implemented to mitigate risks, reduce emissions and improve our energy efficiency.

Governance

A rigorous risk management approach is integral to ExxonMobil’s governance framework and ensures risks are appropriately identified and addressed. ExxonMobil’s Board of Directors oversees risks associated with our business, including the risks related to climate change.

Learn more about the Company's robust governance framework

Metrics and targets

ExxonMobil has established programs to drive improvements in energy efficiency and mitigate greenhouse emissions. These programs are supported by key performance metrics, which are utilized to identify and prioritize opportunities to drive progress.

These programs are supported by key performance metrics to identify and prioritize opportunities to deliver results.

Strategy

Our business strategies are underpinned by a deep understanding of global energy system fundamentals. These fundamentals include the scale and variety of energy needs worldwide; capability, practicality and affordability of energy alternatives; greenhouse gas emissions; and government policies. We consider these fundamentals in conjunction with our Outlook for Energy to help inform our long-term business strategies and investment plans.

Actions to address the risks related to climate change position the Company to responsibly meet the growing energy demand of an increasingly prosperous world.

Risk management

ExxonMobil uses a risk management framework based on decades of experience to identify, manage and address risks associated with our business. ExxonMobil’s approach to risk governance includes clearly defined roles and responsibilities for managing each type of risk, utilizing a multilayered approach.

Task Force on Climate-related Financial Disclosures (TCFD)

The ExxonMobil Energy & Carbon Summary is aligned with the core elements of the framework developed by the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD), designed to encourage informed conversations. TCFD core elements and our disclosures

Few would disagree that one of the most urgent societal challenges we face today is addressing the risks of climate change. How we meet the world’s demand for the energy necessary for economic growth while mitigating the long-term impact on our environment is key to our sustainable future.

Darren W. Woods

Chairman and Chief Executive Officer