ExxonMobil is targeting 'net zero' operational emissions by 2050

ExxonMobil made its pledge on Tuesday, January 18th, 2022.

The pledge covers what is known as "Scope 1" and "Scope 2" emissions, referring to the carbon emissions from ExxonMobil's operations and emissions associated with heating and cooling used at its facilities. "Scope 3" emissions are not covered by the pledge, which refers to those from the products sold, including gasoline purchased by consumers.

ExxonMobil has also announced other projects that will see more funding put into lower-emissions technologies, such as carbon capture and storage projects. "Detailed roadmaps" will be released by the end of 2022, addressing ninety percent of operations-related greenhouse gas emissions, with the remaining ten percent in 2023.

"ExxonMobil is committed to playing a leading role in the energy transition, and Advancing Climate Solutions articulates our deliberate approach to helping society reach a lower-emissions future," said Darren Woods, CEO and chairman.

"We are developing comprehensive roadmaps to reduce greenhouse gas emissions from our operated assets around the world, and where we are not the operator, we are working with our partners to achieve similar emission-reduction results," Woods continued.

You can read more from the company's press release here.