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12/14/2020, 4:22 PM (Source: TeleTrader)
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ExxonMobil targets 20% emissions drop by 2025

ExxonMobil Corp. announced on Monday its plan for the gas emissions' reduction until 2025, in accordance with the Paris Agreement's goals and the World Bank's initiative to eliminate routine flaring by 2030.

The company projects that the intensity of operated upstream gas emissions will be reduced by up to 20% in 2025 compared to 2016. The plan includes a minimum 40% decrease in methane's intensity and a 35-45% drop in flaring intensity throughout the corporation's global operations.

According to the press release, ExxonMobil has placed investments of more than $10 billion in the research, development and deployment of lower-emission technologies since 2000, as well as in alternative electricity sources at cogeneration facilities that have reduced emissions.

Breaking the News / CG