Exxon Mobil pledges to drastically reduce GHG emissions by 2025
Exxon Mobil pledges to drastically reduce GHG emissions by 2025
By Nikita Chaurasia  Date: 2020-12-16

Exxon Mobil pledges to drastically reduce GHG emissions by 2025

U.S.-based multinational oil and gas company, Exxon Mobil Corporation, under rising pressure from climate change activists and investors, has recently announced a new five-year plan to significantly reduce its carbon footprint.

The announcement comes along the heels of the changes demanded by Church Commissioners for England along with multiple investor groups targeting the company for financial underperformance as well as failing to address long-term clean fuel transition needs.

It is to be noted that Exxon’s rivals, including BP Plc and Royal Dutch Shell, have set long-term climate goals for achieving net zero greenhouse gas emissions by the year 2050. In view of this, the American oil & gas giant indicated that it is planning on reporting Scope 3 emissions discharged from its consumer products, primarily gasoline and jet fuel.

If sources are to be believed, the company’s five-year plan includes reducing the intensity of its oilfield greenhouse gas emissions by 15%-20% in contrast to those in 2016. This reduction will be aided by a 35%-45% decrease in flaring intensity and a 40%-50% decrease in methane intensity across all the company’s global operations.

Exxon claims that it is in compliance with the Paris climate accord held in 2015, that set goals of keeping global warming below 3.6 degrees Fahrenheit (2 degrees Celsius). Despite the United States’ exit from the accord under the Trump Administration, the company has continued to support the climate change initiative, cited credible sources.

Director of greenhouse gas & climate change at Exxon, Peter Trelenberg commented that the organization recognizes the ambition of the Paris accord to achieve net zero greenhouse gas emissions before the end of the century. In this context, the company will further set new goals once the targets for 2025 are met, he added.

Source credits –

https://in.reuters.com/article/us-exxon-mobil-carbon/exxon-mobil-under-pressure-on-climate-aims-to-cut-emissions-intensity-by-2025-idINKBN28O1TL

About

Nikita Chaurasia    

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

BMW planning to boost EV production, to sell 250,000 vehicles by 2023
BMW planning to boost EV production, to sell 250,000 vehicles by 2023
By Nikita Chaurasia

The German automaker is planning on introducing around 25 new electric vehicles and plug-in hybrid BMW also intends to develop 1,300 public and 15,000 private charging ports According to reliable sources, German multinational automobile company,...

AstraZeneca’s COVID-19 vaccine may receive EUA from India soon
AstraZeneca’s COVID-19 vaccine may receive EUA from India soon
By Nikita Chaurasia

Reportedly, India intends to grant emergency use ization (EUA) to Oxford/AstraZeneca’s coronavirus vaccine by next week, following submission of some additional data to the concerned ities by a few local manufacturers. India could b...

Tencent Music, Nordic Embassy unite to produce cross-border music album
Tencent Music, Nordic Embassy unite to produce cross-border music album
By Nikita Chaurasia

Tencent Music Entertainment Group (TME), a renowned Chinese music streaming services provider, has reportedly teamed up with the Royal Norwegian Embassy in Beijing to introduce an innovative, classic, and cross-border music album to the Chinese audie...

Amazon urges U.S. officials to prioritize its staff for COVID-19 doses
Amazon urges U.S. officials to prioritize its staff for COVID-19 doses
By Nikita Chaurasia

Amazon.com Inc., an American multinational technology firm, has reportedly asked the government of United States to consider its employees in data center, grocery store, and warehouse to reclassify them as essential workers in order to acquire early ...

Siemens, Duke Energy, Clemson University unite to study hydrogen use
Siemens, Duke Energy, Clemson University unite to study hydrogen use
By Nikita Chaurasia

German renewable energy company, Siemens Energy AG has reportedly partnered with South Carolina-based research institute, Clemson University and Charlotte-headquartered electric power holding organization, Duke Energy Corporation. According to relia...