In response to a shareholder resolution at its 2017 annual general meeting, ExxonMobil has published a report detailing how it expects to perform within the context of climate change.
The report titled “2018 Energy & Carbon Summary: Positioning for a Lower-Carbon Energy Future” details how the company is preparing for continued success against the challenges presented by climate change. In a letter introducing the report, ExxonMobil CEO Darren Woods starts by saying:
“Providing affordable energy to support prosperity while reducing environmental impacts – including the risks of climate change – is our industry’s dual challenge.”
He goes on to point out that one of the company’s short-term goals is to improve its own operations to increase efficiency and reduce emissions. Its emission-reducing efforts include phasing out high-bleed pneumatic devices in favour of low-bleed or no-bleed equivalents, enhancing its leak detection and repair programme and prioritizing larger sites with greater potential for emission reduction, and planning events like liquid unloading to minimise methane emissions.
The report also highlights how the company is helping other sectors to improve, such as through aiding the transition to natural gas, producing lightweight plastics, and providing advanced chemicals and lubricants that support increased efficiency. As an example, Mobil DTE 10 Excel 32 can increase hydraulic efficiency by 6% when compared to a typical hydraulic fluid and stay clean for up to three times longer. The report also states that over 40,000 wind turbines worldwide are benefitting from using Mobil lubricants.
The full report can viewed in PDF format on ExxonMobil’s corporate website.