Report April 23, 2021
Mitigating emissions in Company operations
ExxonMobil has a robust set of processes to improve energy efficiency and mitigate emissions, including programs focused on reducing methane emissions, flaring and venting. These processes include, where appropriate, setting tailored objectives at the business, site and equipment level, and then stewarding progress toward meeting those objectives. This rigorous approach is effective to promote efficiencies and reduce greenhouse gas emissions in operations while striving to achieve industry-leading performance.
Report April 23, 2021
Mitigating emissions in Company operations
ExxonMobil’s greenhouse gas emissions have declined approximately 13 percent (see chart below) from 2011 to 2020. The greenhouse gas emissions from the base facilities that were in operations in 2011 have decreased nearly 27 percent (approximately 33 million tonnes), primarily due to portfolio optimization; energy efficiency improvements; reductions in flaring, venting and fugitive emissions; and the impact on the company’s operations due to COVID-19. Meanwhile, the greenhouse gas emissions from acquisitions, expansions, new developments and facilities (shown as growth projects) was approximately 20 percent of total emissions in 2020.
The greenhouse gas emissions from the electricity used in ExxonMobil‘s operations represents more than 10 percent of net equity greenhouse gas emissions, and therefore, using energy more efficiently is a powerful tool to reduce emissions. An effective way to increase efficiency is through cogeneration, a process that simultaneously produces electricity while capturing useful heat or steam for industrial uses. ExxonMobil has interest in approximately 5,500 megawatts of cogeneration capacity in more than 100 installations around the world and is continuing to pursue additional economic cogeneration opportunities. In late 2020, a cogeneration unit began operating at the Strathcona refinery in Canada. It produces approximately 41 megawatts of power and is estimated to reduce greenhouse gas emissions by approximately 112,000 tonnes per year versus separate steam and power generation – the equivalent to taking nearly 24,000 vehicles off the road.
ExxonMobil estimated Scope 1 greenhouse gas emissions reduced and avoided1
(Net equity, CO2-equivalent emissions cumulative since 2000, millions tonnes)
ExxonMobil estimated Scope 1 & 2 greenhouse gas emissions1
(Net equity, CO2 -equivalent emissions, million tonnes)
1 Calculations are based on the guidance provided in API’s Compendium of Greenhouse Gas Emission Estimation Methodologies for the Oil and Gas Industry and IPIECA’s Petroleum Industry Guidelines for Reporting Greenhouse Gas Emissions. Greenhouse gas emissions are reported on a net equity basis for business operations, demonstrating a share of emissions from any facility or operation in which ExxonMobil holds a financial interest, with the share reflecting the equity interest.
520 millon tonnes of CO2 emissions is equivalent to approximately 110 million passenger vehicles driven for one year according to the the U.S. EPA greenhouse gas equivalences calculator https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator
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Scope 3 emissions
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Important Additional Information Regarding Proxy Solicitation
Exxon Mobil Corporation (“ExxonMobil”) has filed a definitive proxy statement and form of associated BLUE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for ExxonMobil’s 2021 Annual Meeting (the “Proxy Statement”). ExxonMobil, its directors and certain of its executive officers will be participants in the solicitation of proxies from shareholders in respect of the 2021 Annual Meeting. Information regarding the names of ExxonMobil’s directors and executive officers and their respective interests in ExxonMobil by security holdings or otherwise is set forth in the Proxy Statement. To the extent holdings of such participants in ExxonMobil’s securities are not reported, or have changed since the amounts described, in the Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Details concerning the nominees of ExxonMobil’s Board of Directors for election at the 2021 Annual Meeting are included in the Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO AND ACCOMPANYING BLUE PROXY CARD, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and shareholders can obtain a copy of the Proxy Statement and other relevant documents filed by ExxonMobil free of charge from the SEC’s website, www.sec.gov. ExxonMobil’s shareholders can also obtain, without charge, a copy of the Proxy Statement and other relevant filed documents by directing a request by mail to ExxonMobil Shareholder Services at 5959 Las Colinas Boulevard, Irving, Texas, 75039-2298 or at shareholderrelations@exxonmobil.com or from the investor relations section of ExxonMobil’s website, www.exxonmobil.com/investor.