ExxonMobil is tackling head-on the challenge of strengthening energy supply security and reducing emissions to support a net-zero future for society while growing value for our shareholders and stakeholders. We will continue delivering solutions that lower the greenhouse gas emissions intensity of our portfolio and meet society’s growing need for affordable and reliable energy and products.
Explore supporting a net-zero future for societyLow Carbon Solutions is focused on commercializing lower-emission business opportunities in carbon capture and storage, hydrogen and lower-emission fuels, by leveraging the skills, knowledge and scale of ExxonMobil. The company has more than 30 years of experience capturing CO2 and has cumulatively captured more human-made CO2 than any other company.
Explore Low Carbon SolutionsContinuing our role as a leader in the energy transition is multifaceted. By increasing our investments by 15%, in addition to our Low Carbon Solutions, we can successfully reduce greenhouse gas emissions for both our operated assets and the assets of others. Moreover, the U.S. Inflation Reduction Act was expanded to third-party market opportunities, improving returns on the investment to decarbonize our operations.
In lower-emission investments
Overall return on portfolio
Between now and 2050, the world population is expected to grow to almost 9.7 billion people, and billions of people in developing economies are expected to see their incomes increase. Human development and energy are tightly linked, and ExxonMobil’s Global Outlook is our latest view of energy supply and demand through 2050 based on current trends in economic development, technology, global policies, geopolitics, and consumer behavior. It forms the basis for our business planning and is underpinned by a deep understanding of long-term fundamentals.
Explore scenario analysis & resiliencyTo support a net-zero future for society, it is essential that companies fully understand their net emissions and have a means of comparing themselves against others in their industry. Most importantly, the approach needs to equip and incentivize companies to make investments that will reduce their emissions – not simply encourage companies to back away from meeting society’s needs and pass portions of their carbon footprint to someone else.
We take a life-cycle approach when working to reduce emissions, which offers advantages that are not available in other frameworks. First, it allows for consideration of “negative emissions,” such as direct air capture, reflecting a “net” emissions number. Second, it considers the relative carbon burden associated with different energy products, helping to answer critical questions about the best way to meet society’s needs for energy. Finally, LCA offers a view of the emissions intensity of all aspects of a company’s value chain.
Read more about our life-cycle approach in our 2023 Advancing Climate Solutions Progress ReportBrowse reports and documents related to our ESG efforts.