Dec. 15, 2022
Reporting guidelines and legal information
The Sustainability section of our website summarizes ExxonMobil’s approach to managing our operations and describes our ESG performance. The results of our topic selection process helped determine the key topics discussed in the Sustainability section of our website.
Dec. 15, 2022
The Sustainability section of our website focuses primarily on ExxonMobil’s operations from January 1, 2021, through December 31, 2021, unless otherwise indicated. Information regarding some known events or activities in 2022 are also included.
The reporting guidelines and indicators in the Sustainability Reporting Guidance for the Oil and Gas Industry (4th edition, 2020) developed by Ipieca, the American Petroleum Institute (API), and the International Association of Oil & Gas Producers (IOGP), hereinafter “Ipieca/API/IOGP Guidance”, informed the Sustainability section of our website. The Sustainability section of our website also references the Global Reporting Initiative Standards.
The Sustainability section of our website uses qualitative descriptions and quantitative metrics to describe our policies, programs, practices and performance. Many of the standards and metrics used in preparing the Sustainability section of our website are difficult to measure, methods for collecting data continue to evolve and may contain estimates or assumptions believed to be reasonable at the time of preparation. The uncertainty associated with this data depends on variation in the processes and operations, the availability of sufficient data, the quality of those data and methodology used for measurement and estimation. Changes to the data may be reported as updated data and/or methodologies become available.
For purposes of the Sustainability section of our website, the selected topics are based on the Ipieca/API/IOGP Guidance and do not correspond to the concept of materiality used in securities laws and disclosures required by U.S. Securities and Exchange Commission rules.
Cautionary note on forward looking statements
Statements of future ambitions, goals, events or conditions, descriptions of business and community plans, and research efforts, including sustainability focus areas, projections, plans to reduce emissions and emissions intensity, sensitivty analyses, expectations, estimates, and the development of future technologies, are forward-looking statements. Similarly, emission-reduction roadmaps to drive toward net zero are dependent on future market factors, such as continued technological progress and policy support, and represent forward-looking statements. Actual future results, including in the sustainability focus areas, the achievement of ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050, to reach Scope 1 and 2 net zero in Upstream Permian Basin unconventional operated assets by 2030, to eliminate routine flaring in-line with World Bank Zero Routine Flaring, to reach near zero methane emissions from operated assets, to meet greenhouse gas emission reduction plans or goals, divestment and start-up plans, and associated project plans; technology efforts such as timing and outcome of projects to capture and store CO2, produce biofuels, integrate hydrogen projects, and use plastic waste as feedstock for advanced recycling; future cash flows; and reserve or resource changes could vary depending on the ability to execute operational objectives on a timely and successful basis; policy and consumer support for emission-reduction products and technology; changes in laws and regulations including international treaties and laws and regulations regarding the sustainability focus areas, emissions, plastics, and carbon costs; government incentives; trade patterns and the development and enforcement of local, national and regional mandates; unforeseen technical or operational difficulties; the outcome of research efforts and future technology developments, including the ability to scale projects and technologies such as advanced recycling on a commercially competitive basis; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; availability of feedstocks for biofuels or advanced recycling; changes in the relative energy mix across activities and geographies; the actions of competitors; changes in regional and global economic growth rates and consumer preferences; actions taken by governments and consumers resulting from a pandemic; changes in population growth, economic development or migration patterns; military build-ups or conflicts; and other factors discussed in this release and in Item 1A. “Risk Factors” in ExxonMobil’s Annual Report on Form 10-K for 2021 and subsequent Quarterly Reports on Forms 10-Q, as well as under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at www.exxonmobil.com. We do not undertake to provide any updates or changes to any data or forward-looking statements in the Sustainability section of our website. Neither future distribution of this material nor the continued availability of this material in archive form on our website should be deemed to constitute an update or re-affirmation of these figures or statements as of any future date. Any future update will be provided only through a public disclosure indicating that fact.
The Sustainability section of our website is not intended to communicate any material investment information. The Sustainability section of our website represents a good faith effort by the Company to address our efforts on diverse topics broadly defined as sustainability efforts. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future, including future rule-making.
Energy demand modeling aims to replicate system dynamics of the global energy system, requiring simplifications. The reference to any scenario, including any potential net zero scenario, does not imply ExxonMobil views any particular scenario as likely to occur. In addition, energy demand scenarios require assumptions on a variety of parameters. As such, the outcome of any given scenario using an energy demand model comes with a high degree of uncertainty. For example, the IEA describes its NZE scenario as extremely challenging, requiring unprecedented innovation, unprecedented international cooperation and sustained support and participation from consumers. Third-party scenarios discussed in the Sustainability section of our website reflect the modeling assumptions and outputs of their respective authors, not ExxonMobil, and their use or inclusion herein is not an endorsement by ExxonMobil of their underlying assumptions, likelihood or probability. Investment decisions are made on the basis of ExxonMobil’s separate planning process, but may be secondarily tested for robustness or resiliency against different assumptions, including against various scenarios. Any reference to ExxonMobil’s support of, work with, or collaboration with a third-party organization within the Sustainability section of our website does not constitute or imply an endorsement by ExxonMobil of any or all of the positions or activities of such organization. References to projects or opportunities may not reflect investment decisions made by the corporation or its affiliates. Individual projects or opportunities may advance based on a number of factors, including availability of supportive policy, technology for cost-effective abatement, company planning process, and alignment with our partners and other stakeholders. Capital investment guidance in lower-emissions investments is based on plan; however, actual investment levels will be subject to the availability of the opportunity set and focused on returns.
ExxonMobil reported emissions, including reductions and avoidance performance data, are based on a combination of measured and estimated data. Calculations are based on industry standards and best practices, including guidance from the American Petroleum Institute (API) and Ipieca. Emissions reported are estimates only, and performance data depends on variations in processes and operations, the availability of sufficient data, the quality of those data and methodology used for measurement and estimation. Emissions data is subject to change as methods, data quality, and technology improvements occur, and changes to performance data may be updated. Emissions, reductions and avoidance estimates for non-ExxonMobil operated facilities are included in the equity data and similarly may be updated as changes in the performance data are reported. ExxonMobil’s plans to reduce emissions are good-faith efforts based on current relevant data and methodology, which could be changed or refined. ExxonMobil works to continuously improve its approach to identifying, measuring and addressing emissions. ExxonMobil actively engages with industry, including API and Ipieca, to improve emission factors and methodologies, including measurements and estimates.
All forward-looking statements are based on management’s knowledge and reasonable expectations at the time of publication. We do not undertake to provide any updates or changes to any data or forward-looking statements.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso and XTO. For convenience and simplicity, those terms and terms such as “Corporation”, “company,” “our,” “we,” and “its” are sometimes used as abbreviated references to one or more specific affiliates or affiliate groups. Abbreviated references describing global or regional operational organizations, and global or regional business lines are also sometimes used for convenience and simplicity. Nothing contained herein is intended to override the corporate separateness of affiliated companies. Exxon Mobil Corporation’s goals do not guarantee any action or future performance by its affiliates or Exxon Mobil Corporation’s responsibility for those affiliates’ actions and future performance, each affiliate of which manages its own affairs. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments and others. For convenience and simplicity, words like venture, joint venture, partnership, co-venturer and partner are used to indicate business relationships involving common activities and interests, and those words may not indicate precise legal relationships.
Sustainability at ExxonMobilOur purpose is to grow shareholder value by creating sustainable solutions that improve quality of life and meet society’s evolving needs
Sustainability performance data
We assess our performance to support continual improvements throughout the company.
Sustainability Report • April 14, 2023