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GREENHOUSE GAS EMISSION REDUCTION DISCLOSURES STATEMENT
Last updated: December 2, 2024 | United States
CAUTIONARY STATEMENT RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER IMPORTANT LEGAL DISCLAIMERS
Images or statements of future ambitions, plans, goals, events, projects, projections, opportunities, or conditions in this disclosure or material referenced therein, including plans to reduce, abate, avoid or enable avoidance of emissions or reduce emissions intensity, sensitivity analyses, expectations, estimates, the development of future technologies, business plans, and sustainability efforts are dependent on future market factors, such as customer demand, continued technological progress, policy support and timely rule-making or continuation of government incentives and funding, and represent forward-looking statements. Similarly, emission-reduction roadmaps to drive toward net zero and similar roadmaps for emerging technologies and markets are forward-looking statements. These statements are not guarantees of future corporate, market or industry performance or outcomes for society and are subject to numerous risks and uncertainties, many of which are beyond our control or are even unknown.
Actual future results, including ambitions to reach Scope 1 and 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 and in Pioneer Permian assets by 2035, to eliminate routine flaring in-line with World Bank Zero Routine Flaring, to reach near zero methane emissions from operated assets and other methane initiatives, to meet greenhouse gas emission reduction plans or goals, divestment and start-up plans, and associated project plans; technology advances, including in the timing and outcome of projects to capture and store CO2, supply lower-emission fuels, produce hydrogen, produce lithium, obtain data on detection, measurement and quantification of emissions, including reporting of that data or updates to previous estimates, could differ materially due to a number of factors. These include changes in supply and demand and other market factors affecting future prices of oil, gas, petrochemical or new market products and services; future cash flows; our ability to execute operational objectives on a timely and successful basis; policy and consumer support for emission-reduction and other advanced products and technology; changes in international treaties, laws, regulations and incentives, including those related to greenhouse gas emissions, carbon storage or carbon costs; evolving reporting standards for these topics and evolving measurement standards for reported data; 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 electrification of operations, CCS, hydrogen production, or direct lithium extraction on a commercially competitive basis; availability of feedstocks for lower-emission fuels or hydrogen; 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, armed conflicts or terrorism; and other factors discussed in the Advancing Climate Solutions Report referenced in this disclosure. No party should place undue reliance on these forward-looking statements, which speak only as of the dates of this disclosure or material referenced therein. All forward-looking statements are based on management’s knowledge and reasonable expectations at the time of posting. We do not undertake to provide any further updates or changes to any data or forward-looking statements in this disclosure or material referenced therein. Neither future distribution of material referenced in this disclosure 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.
ABOUT THE ADVANCING CLIMATE SOLUTIONS REPORT. The Advancing Climate Solutions Report referenced in this disclosure contains terms used by the TCFD, as well as information about how the disclosures in the Advancing Climate Solutions Report are consistent with the recommendations of the TCFD. In doing so, ExxonMobil is not obligating itself to use any terms in the way defined by the TCFD or any other party, nor is it obligating itself to comply with any specific recommendation of the TCFD or to provide any specific disclosure. For example, with respect to the term “material,” individual companies are best suited to determine what information is material, under the long-standing U.S. Supreme Court definition, and whether to include this information in U.S. Securities and Exchange Act filings. In addition, the ISSB is evaluating standards that provide their interpretation of TCFD, which may or may not be consistent with the current TCFD recommendations.
Forward-looking and other statements regarding environmental and other sustainability efforts and aspirations are not intended to communicate any material investment information under the laws of the United States or represent that these are required disclosures. This disclosure and any material referenced therein is not intended to imply that ExxonMobil has access to any significant non-public insights on future events that the reader could not independently research. In addition, historical, current and forward-looking environmental and other 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 laws and rulemaking.
Material referenced in this disclosure contains information from third parties. ExxonMobil makes no representation or warranty as to the third-party information. Where necessary, ExxonMobil received permission to cite third-party sources, but the information and data remain under the control and direction of the third parties. ExxonMobil has also provided links in this disclosure and material referenced therein to third-party websites for ease of reference. ExxonMobil’s use of the third-party content is not an endorsement or adoption of such information.
ExxonMobil’s reported emissions, including reductions and avoidance performance data, are based on a combination of measured and estimated data. We assess our performance to support continuous improvement throughout the organization using our Environmental Performance Indicator (EPI) process. The reporting guidelines and indicators in the Ipieca, the American Petroleum Institute (API), the International Association of Oil and Gas Producers Sustainability Reporting Guidance for the Oil and Gas Industry (4th edition, 2020, revised February 2023) and key chapters of the GHG Protocol inform the EPI process and the selection of the data reported. 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, abatements and enabled 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.
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. 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. Material referenced in this disclosure cover Exxon Mobil Corporation’s owned and operated businesses and do not address the performance or operations of our suppliers, contractors or partners unless otherwise noted. In the case of certain joint ventures for which ExxonMobil is the operator, we often exercise influence but not control. Thus, the governance, processes, management and strategy of these joint ventures may differ from those in material referenced in this disclosure.
This disclosure or any material therein is not to be used or reproduced without the permission of Exxon Mobil Corporation. All rights reserved.
GREENHOUSE GAS EMISSION REDUCTION DISCLOSURES STATEMENT
This greenhouse gas (GHG) emission reduction disclosures statement (“Statement”) is provided on behalf of Exxon Mobil Corporation (“ExxonMobil”) and its subsidiaries regarding our communications of net zero ambitions, carbon neutrality or GHG emission reductions (collectively hereinafter referred to as “GHG Emission Reduction Statements”), in particular information about how these GHG Emission Reduction Statements are determined to be accurate, how interim progress toward goals is monitored, and indications, where appropriate, that GHG Emission Reduction Statements have undergone independent third-party verification (collectively hereinafter referred to as “Associated Information”). ExxonMobil discloses Associated Information in various reports and other materials available throughout this website. This Statement provides a reference for and should be read as complementary to such disclosures. This Statement is not intended to address the performance, operations or products of entities that do not do business in the United States unless and only to the extent that such information is indivisibly combined with that of United States entities. We reserve the right to modify this Statement at any time but do not undertake to provide any further updates or changes to any data or forward-looking statements contained herein except as required by law.
Operations and Core Capabilities
ExxonMobil publishes Associated Information on a yearly basis through its Advancing Climate Solutions Report for GHG Emission Reduction Statements relating to reducing GHG emissions in our own operations and opportunities we see to use our core capabilities to help other essential industries and customers reduce their GHG emissions.
For GHG Emission Reduction Statements that have been released after the publication of the latest edition of our Advancing Climate Solutions Report, ExxonMobil also routinely makes Associated Information available through events and announcements it holds periodically throughout the year, such as Corporate Plan Updates, quarterly Earnings Calls and the Annual Shareholder Meeting, which you can find on our News & events page2 .
GHG emissions performance data
We assess our performance to support continuous improvement throughout the organization using our Environmental Performance Indicator (EPI) process. The reporting guidelines and indicators in the Ipieca, the American Petroleum Institute (API), the International Association of Oil and Gas Producers Sustainability Reporting Guidance for the Oil and Gas Industry (4th edition, 2020, revised February 2023), and key chapters of the GHG Protocol inform the EPI. Learn more about our Metrics and Data, including GHG emissions performance data, here:
Metrics and data | ExxonMobil
Lloyd’s Register Quality Assurance has provided their independent limited level of assurance that the 2022 ExxonMobil GHG emissions inventory available at the above webpage meets ISO 14064-3 expectations. LRQA Independent Assurance Statement
Additional Resources
ExxonMobil has a number of additional resources for Associated Information located throughout our website. We have compiled an example, inexhaustive listing below representing our three core business lines:
Upstream
Low Carbon Solutions
Footnotes
1Including, without limitation, communications relating to reduction, abatement, avoidance or enabling avoidance of GHG emissions or reduction of GHG emissions intensity.
2Information contained in the latest edition of the Advancing Climate Solutions Report should be considered as superseding any prior released information.