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CEO-led global initiative aims to provide practical solutions to
climate change mitigation
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Focus areas include carbon capture and storage, methane reductions,
energy efficiency
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As part of the initiative, ExxonMobil to invest in research and
development of long-term solutions to reduce greenhouse gas emissions
ExxonMobil
today said it will join the Oil and Gas Climate Initiative (OGCI), a
voluntary initiative representing 13 of the world’s largest oil and gas
producers working collaboratively toward solutions to mitigate the risks
of climate change.
The CEO-led organization focuses on developing practical solutions in
areas including carbon capture and storage, methane emissions reductions
and energy and transportation efficiency. As part of the initiative,
ExxonMobil will expand its investment in research and development of
long-term solutions to reduce greenhouse gas emissions as well as
partnerships and multi-stakeholder initiatives that will pursue
lower-emission technologies.
“It will take the collective efforts of many in the energy industry and
society to develop scalable, affordable solutions that will be needed to
address the risks of climate change,” said Darren Woods, chairman and
chief executive officer of ExxonMobil. “Our mission is to supply energy
for modern life and improve living standards around the world while
minimizing impacts on the environment. This dual challenge is one of the
most important issues facing society and our company.”
ExxonMobil has invested billions of dollars in researching
and developing lower-emission solutions, including carbon capture
and storage technology, next-generation biofuels, cogeneration and more
efficient manufacturing processes.
Earlier this year, ExxonMobil announced initiatives to lower greenhouse
gas emissions associated with its operations by 2020, including reducing
methane emissions 15 percent and flaring by 25 percent. Since 2000,
ExxonMobil has spent more than $9 billion to develop and deploy
higher-efficiency and lower-emission energy solutions across its
operations.
OGCI was established following the 2014 World Economic Forum and
formally launched at the United Nations Climate Summit the same year.
Members include BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental
Petroleum, Pemex, Petrobras, Repsol, Royal Dutch Shell, Saudi Aramco and
Total.
About ExxonMobil
ExxonMobil, the largest publicly traded international energy company,
uses technology and innovation to help meet the world’s growing energy
needs. ExxonMobil holds an industry-leading inventory of resources, is
one of the largest refiners and marketers of petroleum products and its
chemical company is one of the largest in the world. For more
information, visit www.exxonmobil.com
or follow us on Twitter www.twitter.com/exxonmobil.
Cautionary Statement: Statements of future
events or conditions in this release are forward-looking statements.
Actual future results, including the timing, results and impact of new
technologies and future emission reductions, could differ significantly
depending on the outcome of further research and testing; the
development and competitiveness of alternative technologies; the ability
to develop and scale pilot projects on a cost-effective basis; political
and regulatory developments; and other factors discussed in this release
and under the heading “Factors Affecting Future Results” on the
Investors page of ExxonMobil’s website at exxonmobil.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180920005499/en/
Copyright Business Wire 2018
Source: Business Wire
(September 20, 2018 - 9:34 AM EDT)
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