ENERGY AND ENVIRONMENT
Energy and Carbon Summary
ExxonMobil has a proven record of successfully meeting society‘s evolving demand for energy. With longstanding investments in technology coupled with the ingenuity of our people, we are well positioned to continue to responsibly meet the demands of a more prosperous world while managing environmental impacts.
Energy is essential. Accessible and affordable supplies of energy support our ability to meet the basic requirements of life, and power society's progress around the world.
As the world’s population grows to more than 9 billion in the next two decades, rising prosperity will increase energy demand, particularly in developing countries. Stable and affordable energy supplies will make it possible for more people to access the health care, transportation and education that contribute to quality of life and improved living standards.
With this increased energy demand comes the potential for greater environmental impacts, including greenhouse gas emissions and the risks of climate change. As a global community, we need to manage environmental impacts as we meet this growth in demand. This is society’s dual challenge.
This Energy & Carbon Summary describes how we at ExxonMobil are doing our part in addressing the dual challenge. It describes the steps we are taking to responsibly develop new resources to ensure the world has the energy it needs while also minimizing environmental impacts. It also provides detailed information on how we view and manage the risks associated with greenhouse gas emissions and climate change.
Our effortsExxonMobil aspires to position itself as a leader in providing energy while evolving the energy system. Through these four pillars, we ensure that processes and programs are implemented to mitigate risks, reduce emissions and improve our energy efficiency.
A rigorous risk management approach is integral to ExxonMobil’s governance framework and ensures risks are appropriately identified and addressed. ExxonMobil’s Board of Directors oversees risks associated with our business, including the risks related to climate change.
Metrics and targets
ExxonMobil has established programs to drive improvements in energy efficiency and mitigate greenhouse emissions. These programs are supported by key performance metrics, which are utilized to identify and prioritize opportunities to drive progress.
ExxonMobil uses a risk management framework based on decades of experience to identify, manage and address risks associated with our business.
Our business strategies are underpinned by a deep understanding of global energy system fundamentals. These fundamentals include the scale and variety of energy needs worldwide; capability, practicality and affordability of energy alternatives; greenhouse gas emissions; and government policies. We consider these fundamentals in conjunction with our Outlook for Energy to help inform our long-term business strategies and investment plans.
The ExxonMobil Energy & Carbon Summary is aligned with the core elements of the framework developed by the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD), designed to encourage informed conversations.