ExxonMobil will not aim to offset scope three emissions
ExxonMobil targets net-zero scope one and two emissions by 2050
Oil major plans to invest more than $15bn on low-carbon initiatives by 2027
US oil major ExxonMobil has announced an ambition to reach net-zero scope one and two greenhouse gas (GHG) emissions by 2050. Unlike most European oil and gas firms, the commitment does not include scope three, which usually represent the largest share of overall emissions. Eni, Total, BP, Shell, Equinor, Repsol and Occidental have set 2050 net-zero targets that cover emissions from the use of their oil and gas as well as from the operations that produce it. ExxonMobil will set out interim emission-reduction plans with its 2030 targets, including a net-zero plan for its Permian Basin operations. The company has identified more than 150 potential steps and modifications that can be applied to
Also in this section
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
