Exxon Mobil Takes Aim at GHG in U.S. Permian Basin by 2030
The new target is part of a company-wide effort to reduce the intensity of upstream GHG emissions by 40% to 50% by 2030, compared with 2016 levels.
Edited by Margo Ellis
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Exxon Mobil Corp. said it aims to achieve net zero greenhouse gas (GHG) emissions from working assets in the U.S. Permian basin by 2030, expanding its emission-reduction plans for unconventional operations in New Mexico and Texas, reported Reuters.
Investors and governments have been increasing pressure on energy companies to fight against climate change, with a hedge fund in May forcing Exxon to add new board members who could help it confront the issue better.
The new target is part of a company-wide effort to reduce the intensity of upstream GHG emissions by 40% to 50% by 2030, compared with 2016 levels.
Exxon’s plan stops short of its European peers by not including GHG emissions from all fuel products it sells. Rival Chevron has also set a target of cutting operational emissions to net zero by 2050.
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