ExxonMobil commends President Biden’s decision to rejoin the Paris Agreement
The US major has supported the accord since its adoption in 2015
We at ExxonMobil are working to be part of the solution. We recently outlined our 2025 emission reduction plans, which are projected to put us on a pathway consistent with the goals of the Paris Agreement.
Our plans include a 15-20pc reduction in the greenhouse gas intensity of upstream operations compared with 2016 levels, which will be supported by a 40-50pc decrease in methane intensity, and a 35-45pc decrease in flaring intensity across our global operations. These efforts, which cover direct (scope 1) and indirect (scope 2) emissions from our operated assets, are expected to reduce our absolute greenhouse gas emissions by an estimated 30pc for our upstream business and decrease our absolute flaring and methane emissions globally by 40-50pc.
We also know that technology and innovation will play a central role in achieving the goals of the Paris Agreement. To this end, ExxonMobil has invested more than $10bn to research, develop and deploy lower-emission energy solutions over the past two decades, including initiatives with carbon capture and storage, innovative biofuels, hydrogen and energy-efficient process technologies.
c.480mn t – ExxonMobil’s eliminated GHG emissions since 2000
These solutions have resulted in highly efficient operations that have eliminated or avoided approximately 480mn t of greenhouse gas emissions since 2000—the equivalent of removing 100mn passenger vehicles from the road for a year. Further advances in these areas will be critical to reducing emissions and achieving the goals of the Paris Agreement.
We are committed to working with the new administration and Congress to advance cost-effective solutions to address the risks of climate change, while continuing to ensure society has access to affordable and reliable energy that is critical for our nation’s economic recovery and improving lives around the world.
The long-term nature of the climate change challenge requires that we all work together, and we look forward to working with the new administration to put the US on a path of achieving the goals of Paris.
To learn more about this topic please visit https://corporate.exxonmobil.com/ and www.exxonmobilLNG.com
Pete Trelenberg is ExxonMobil’s director of greenhouse gas and climate change