The US based energy giant, ExxonMobil, is set to to leave its mark on the global decarbonization scoreboard. The company is is making strides in pursuing a versatile emission reduction approach.
In recent years, the US oil giant has intensified its efforts to cut its greenhouse gas (GHG) emissions footprint. To this end, 2021 saw the U.S. oil major reveal its Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 in comparison with 2016 levels, covering operated assets.
With the above plans, the firm intends to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in GHG intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity.
With the above in mind, ExxonMobil is set on advancing a diverse range of technologies, including low-carbon hydrogen, ammonia, and carbon capture, utilization, and storage (CCUS), which have the potential to significantly lower emissions in hard-to-abate sectors such as manufacturing and power.
With the help of technological advancements and the support of what it believes should be clear and consistent government policies on this issue, the company also aims to reach net zero Scope 1 and 2 GHG emissions from its operated assets by 2050.
