Since 2000, ExxonMobil has spent nearly $8 billion on energy solutions that lower greenhouse gas emissions, including energy efficiency, cogeneration, carbon capture and storage, flaring reduction, and advanced algae biofuels.
ExxonMobil’s core mission is to safely and responsibly deliver the energy needed to power economic, social and technological progress worldwide. We rely on technology to unlock sources of energy from around the world while upholding the highest standards of safety and environmental protection. Through our work, billions of people have access to reliable and affordable energy that supports their livelihoods.
Society continues to face the challenge of meeting the world’s growing energy demand while simultaneously addressing the risks of climate change. ExxonMobil believes the risks of climate change are serious and warrant thoughtful action. Addressing these risks requires broad-based, practical solutions implemented across the globe. The 125 countries that have ratified the Paris Agreement are working together to take action on climate change while recognizing differing national responsibilities, capacities and circumstances.
The energy industry has a role to play in addressing this challenge by making long-term investments in technologies that can expand energy supplies, improve efficiency and reduce environmental impacts. Since 2000, ExxonMobil has spent nearly $8 billion on energy solutions that lower greenhouse gas emissions, including energy efficiency, cogeneration, carbon capture and storage, flaring reduction, and advanced algae biofuels. In 2016, we announced work on potential technological breakthroughs: One could lead to a more economical pathway toward large-scale capture of carbon dioxide from power plants using fuel cells; another could dramatically reduce emissions from plastics manufacturing through reverse osmosis.
Sound policymaking is also critical for facilitating responsible energy development and reducing the risks of climate change while minimizing costs to society. ExxonMobil has held the view that in the area of climate regulation, policies fostering transparent, uniform carbon prices that allow market forces to drive effective solutions, minimize administrative burdens and promote global participation can be effective. One option being discussed by policymakers that is consistent with these principles is a national revenue-neutral carbon tax.
Community investments are another important factor we consider while working to meet global energy needs. Over the past 10 years, ExxonMobil has contributed nearly $2.5 billion to improve social and economic conditions around the world, focusing on efforts to strengthen education, combat malaria and advance economic opportunities for women.
We at ExxonMobil are committed to providing people around the world with the energy they need to flourish and to do so in a safe and environmentally responsible way. Our relentless pursuit of technological innovation, operational excellence and environmental stewardship — combined with our strategic community investments — enables us to help solve the world’s most pressing energy challenges.