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Climate policy decisions that can help drive energy investments
January 24th, 2022
The world is searching for ways to reduce emissions, and the right policies can help get us there. Here are three policy decisions that can help us expand research and development efforts, bringing society one step closer to achieving climate goals.
Every technology begins with inspiration – an idea and a vision for a different way of doing something. The next step is research and development – the intensive technical, scientific work that turns an idea on paper into a technology that works in practice. Then, the final step is critical: How do you scale up a technology into something that can benefit millions, or even billions, of people in the real world?
To scale up a technology like carbon capture and storage, enormous capital investments are required. Entire infrastructures must be designed and built, and deployment at an industrial scale is a decades-long commitment. To make the long-term business case for such an investment, stakeholders expect government policies to support the technology as it scales. In order to make carbon capture a reality, three key policy positions are needed.
An economy-wide price on carbon
A technology-neutral approach
A predictable policy landscape
A challenge for technology … and policy
Finding the right policy solutions to support CCS is as much of a challenge as deploying the technology itself. To help make progress on policy, ExxonMobil continues to engage in efforts to encourage sound and constructive solutions.
We respect and support society’s ambition to achieve net-zero emissions by 2050 and continue to advocate for policies that promote cost-effective, market-based solutions to address the risks of climate change.
Learn more about our investment in energy policy and emerging CCS technologies.
Explore more
What could an Indonesian CCS hub look like?
Key takeaways:
- Indonesia is evaluating a major potential carbon capture and storage (CCS) hub.
- The hub could store approximately 3 metric gigatons of CO2.
- Indonesia is working with Singapore to develop a potential CCS value chain in Asia Pacific.
2 min read
Unlocking Asia Pacific’s CCS potential
Key takeaways:
- Carbon capture and storage (CCS) can help reduce CO2 emissions for hard to decarbonize industries.
- Asia Pacific is well placed for the development of a CCS industry.
- Collaboration is key to developing cross-border emission-reduction solutions like CCS.
4 min read
Expert spotlight: Clare Glover - working toward our net-zero ambition
Key takeaways:
- ExxonMobil leverages the skills of our people to deliver solutions such as CCS, lithium and hydrogen.
- Expertise in oil and gas exploration is transferable to carbon capture and storage projects.
- Geoscientist Clare Glover works on identifying locations to safely, securely and permanently store CO2 deep underground.
3 min read
We’ve broken ground on CO2 storage for customers
In southeast Texas, in a clearing surrounded by farmland, there’s a rig drilling a well for ExxonMobil. Nothing out of the ordinary in an area accustomed to oil and gas operations. But this well is anything but ordinary. And it isn’t for oil or gas operations.Leading the way to a lower carbon future in Asia Pacific
As Asia Pacific undergoes an energy transition that will impact billions, it will require a combination of the right technologies, expertise and passion to achieve a lower-carbon future.Ask a carbon capture expert: Dr. Prasanna Joshi
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Today we announced an exciting initiative as part of ExxonMobil’s efforts to reduce greenhouse gas emissions from our operations in support of our net-zero 2050 ambition.ExxonMobil, Mitsubishi Heavy Industries form carbon capture technology alliance
IRVING, Texas – ExxonMobil and Mitsubishi Heavy Industries (MHI) have joined forces to deploy MHI’s leading CO2 capture technology as part of ExxonMobil’s end-to-end carbon capture and storage (CCS) solution for industrial customers.Labarge: Helium explained
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