ExxonMobil is delivering on both sides of the “and” equation – meeting society’s needs for energy and essential products and reducing emissions.
This year’s edition of ExxonMobil’s Advancing Climate Solutions Report describes our resolve to drive meaningful change, the results we’re already delivering, and the resiliency of our plans.
This Executive Summary highlights the significant progress we continue to make toward:
- Achieving our 2030 emission-reduction plans and our 2050 net-zero ambition by electrifying operations, using lower-carbon power, and upgrading equipment.
- Reducing methane emissions intensity by using best practices and deploying advanced technologies.
- Helping others cut emissions by developing carbon capture and storage, lower-emission fuels, hydrogen, and lithium through our Low Carbon Solutions business.
Read the executive summary or download the full report.
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Iron and steel account for ~8% of global direct CO2 emissions, partly due to the use of coal in blast furnaces.
Carbon capture could reduce CO2 emissions from steelmaking by more than 70%, by capturing the CO2 and storing it safely underground.
Hydrogen could reduce emissions by up to 80% compared to coal.
Natural gas is another low-carbon option for steel, as it emits up to 60% less CO2 than coal.
Power generation accounts for ~40% of global energy-related CO2 emissions – the largest of any sector. Wind and solar is playing a big role, but achieving net zero in the power sector will require even more solutions to manage the intermittent nature of these renewable sources.
Natural gas emits up to 60% less CO2 than coal when used to make power
Carbon capture can help gas-powered facilities cut emissions even further
Hydrogen is emerging as a potential low-carbon fuel option for power
Advanced biofuels can reduce transportation emissions without requiring changes to engines or fueling infrastructure.
Hydrogen-based fuels, including ammonia, are emerging as an emissions solution for both road and marine transportation.
Products that improve efficiency also can reduce emissions. These include high-quality fuels, lightweight plastics, and high-performance lubes and greases.
Iron and steel account for ~8% of global direct CO2 emissions, partly due to the use of coal in blast furnaces.
Carbon capture could reduce CO2 emissions from steelmaking by more than 70%, by capturing the CO2 and storing it safely underground.
Hydrogen could reduce emissions by up to 80% compared to coal.
Natural gas is another low-carbon option for steel, as it emits up to 60% less CO2 than coal.
Power generation accounts for ~40% of global energy-related CO2 emissions – the largest of any sector. Wind and solar is playing a big role, but achieving net zero in the power sector will require even more solutions to manage the intermittent nature of these renewable sources.
Natural gas emits up to 60% less CO2 than coal when used to make power
Carbon capture can help gas-powered facilities cut emissions even further
Hydrogen is emerging as a potential low-carbon fuel option for power
Advanced biofuels can reduce transportation emissions without requiring changes to engines or fueling infrastructure.
Hydrogen-based fuels, including ammonia, are emerging as an emissions solution for both road and marine transportation.
Products that improve efficiency also can reduce emissions. These include high-quality fuels, lightweight plastics, and high-performance lubes and greases.
The cement industry accounts for ~7% of global direct CO2 emissions , due to the use of coal and to the CO2 naturally released during the calcination process.
Carbon capture can prevent CO2 released during calcination from reaching the atmosphere.
Hydrogen can provide required heat levels while emitting no CO2 at its point of use
Natural gas is another option, emitting up to 60% less CO2 than coal.
Modern life is supported by other energy-intensive industries that make materials like fuel, fertilizer, chemicals, aluminum and glass.
Carbon capture lets these industries continue using their fuel of choice while eliminating >90% of CO2 emissions.
Hydrogen provides the heat and energy they need but emits only water at point of use.
Another option is natural gas, which emits up to 60% less CO2 than coal.
