News releases Oct. 26, 2021
The Global Methane Pledge
In September, the U.S. and European Union announced a Global Methane Pledge to reduce methane emissions by 30% below 2020 levels by 2030. More than 30 nations have now joined the Pledge, and more could be announced at the upcoming COP26 climate summit in Glasgow, Scotland.
News releases Oct. 26, 2021
ExxonMobil supports this initiative.
In announcing the Global Methane Pledge, the U.S. and European Union stated: “Rapidly reducing methane emissions is complementary to action on carbon dioxide and other greenhouse gases, and is regarded as the single most effective strategy to reduce global warming in the near term and keep the goal of limiting warming to 1.5 degrees Celsius within reach.”
Speaking last month about the need to reduce methane emissions, President Biden said: “We have to act and we have to act now.”
ExxonMobil agrees, and we are committed to working with the U.S. government, the European Commission and other governments to help achieve the objectives of the Pledge.
More specifically, we are:
- As previously announced, reducing our own methane emissions by 40-50% by 2025 compared to 2016 levels;
- Developing, testing and deploying new methane detection and mitigation technologies; and
- Working with others in our industry to advance methane emission reductions.
We believe our ongoing methane reduction plans are aligned with the Pledge’s goal.
We also see the value of collaborating with other methane-emitting sectors – such as agriculture, livestock, and landfills -- and will share our experience, technologies and mitigation strategies to help find solutions that work for them. Because each nation has a different methane emissions profile, contributions from all sectors will be critical to achieving the Pledge goals (see graphic below).
In 2017, ExxonMobil signed on to the Methane Guiding Principles, and last year we introduced a model framework for industry-wide methane regulations to reduce emissions in all phases of production. And, we support the U.S. Environmental Protection Agency directly regulating methane emissions for both new and existing sources of oil and gas production, as well as the 2020 European Commission Methane Strategy.
Helping meet the growing demand for energy to support economic development around the world while minimizing environmental impacts and the risks of climate change is a critical challenge for all of us. All segments of society, including government, academia, the broader scientific community, the private sector and consumers, must work together to find effective solutions.
ExxonMobil is committed to being part of the solution. Our scientists and engineers are applying their expertise and ingenuity to help responsibly meet the world’s need for energy, while working to find solutions to enable and to accelerate the transition to a lower-carbon emissions future.