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14 Jun 2024

Real world progress: meeting society’s need for energy and reducing emissions

Amy Power
Real world progress: meeting society’s need for energy and reducing emissions

Getting the planet on a path to net zero requires unprecedented innovation and collaboration at immense scale. The ongoing societal effort is critical but must avoid economic hardships and market disruptions that result from energy and product shortages.

Solving this challenge isn’t an “either/or” proposition. It’s an “and” equation. One that requires an increase in energy supply and a reduction in greenhouse gas emissions.

The world needs scalable solutions deployed globally and at a much lower cost than today. This requires continued technology advances and clear and consistent government policies that catalyze near-term investments.

As we strive to play a leading role in the energy transition, ExxonMobil is pursuing more than $20 billion in lower-emission investments from 2022 through 2027, in addition to the approximately $5 billion Denbury acquisition. About 50% of our lower-emission investments are targeted at reducing emissions from operated assets; the balance going toward reducing the emissions of others.

We’re focused on customers in heavy industry, power generation, and commercial transportation - sectors which provide great economic value and generate significant emissions that aren’t easy to cut.

That’s where our capabilities come in. Solutions like CCS and hydrogen align with our capabilities and have the potential to make a big difference in these hard-to-abate sectors.

At our core, we’re a technology company using science and engineering to bring valued solutions to our customers. We do this in a variety of ways using unique advantages in scaling technology and delivering complex, large-scale projects safely, reliably, and at industry-advantaged cost.

For more than 140 years, we have been a leader in innovation, supplying the energy and products people need to live healthy, prosperous lives. We continue this legacy of innovation by doing our part to provide energy security and evolving our operations in ongoing support of a net-zero future.

For more information visit: Advancing Climate Solutions


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