Exxon Mobil ups spending on emission reduction plan to $15B
ABC News
Exxon Mobil says it is boosting its spending on greenhouse gas emission-reduction projects to $15 billion over the next six years and anticipates meeting its 2025 greenhouse gas emission-reduction plans by the end of this year
Exxon Mobil says it is boosting its spending on greenhouse gas emission-reduction projects to $15 billion over the next six years and anticipates meeting its 2025 greenhouse gas emission-reduction plans by the end of this year.
The energy giant said the $15 billion will go toward projects focused at reducing greenhouse gas emissions from existing operations and increased investments in the low carbon solutions business.
As part of its greenhouse gas emission-reduction plans, Exxon Mobil anticipates year-end 2021 results showing a reduction of 15% to 20% in greenhouse gas intensity from upstream operations compared to 2016 levels, four years ahead of schedule. The company said the figure is supported by an anticipated reduction of 40% to 50% in methane intensity and 35% to 45% in flaring intensity compared to 2016.
Looking ahead, Exxon Mobil said that it expects to lower absolute corporate-wide greenhouse gas emissions by approximately 20% by 2030. It foresee a 70% to 80% reduction in corporate-wide methane intensity and 60% to 70% reduction in corporate-wide flaring intensity by that year.
