ExxonMobil targets 'net zero' emissions at operations by 2050

NEW YORK: ExxonMobil pledged on Tuesday to reach"net zero" greenhouse gas emissions in its operations by 2050, but stopped short of extending the promise to products it sells throughout the global economy.

But the US oil giant avoided targets on"Scope 3" emissions, which are those from products sold, such as the gasoline consumers buy. Some European companies such as Total have pledged to cut these emissions as well. The announcement comes on the heels of ExxonMobil's earlier announcements to boost spending on lower-emissions technologies, including through major projects on carbon capture and storage.

The company will release"detailed roadmaps" addressing 90 per cent of operations-related greenhouse gas emission by the end of 2022, with the remainder in 2023, the ExxonMobil said in a press release.

Assume the average age of the management of ExxonMobil are currently 52 yo. By 2050, they will be 80. Either retired or saying goodbye world. This speaks a lot about commitments.

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