‘ExxonMobil will emit zero CO2 in 2050’

Oilereus ExxonMobil is considering CO2 emissions in its plants and reducing further processing to around zero within 30 years.

According to the Wall Street Journal, the board stop would consider taking the node on this subject internally.

The group with $181 billion in revenue last year is moving to net zero by 2050 drastic measures to reduce emissions.

At

the same time, it would invest heavily in new forms of energy as substitutes for oil, diesel and gas under pressure.

The plans of Exxon, Mobil and Essos parent company would be on the table at the end of this year, according to the Wall Street Journal.

According to board sources, the package of interventions would be a historic breakthrough for the oil company, but there is still a lot of struggle over the details.

Criticism

ExxonMobil is one of the last major oil companies to deal with plans. She recently received full criticism from shareholders who demanded a substantial reduction in emissions.

The cover would be huge. In March 2020, CEO Darren Wood described the ambitious goals that some European rivals reported as little more than a โ€œbeauty contestโ€. It would be lacking concrete plans.

Woods itself is under pressure from investors in particular to develop a firmer approach with concrete measures to reduce emissions.

After hard combat this year, activist hedge fund Engine No. 1 forced three new members on ExxonMobils board of directors.

Woods has always said that Exxon supports the goals of the Paris Climate Agreement, which aims to limit the rise in global average temperature to below 2 degrees Celsius compared to the pre-industrial era (1750-1850). But it hasnt come to a concrete plan so far.