(New York) The American oil and gas giant ExxonMobil pledged on Tuesday that its operations will achieve carbon neutrality by 2050, a goal that does not thrill environmental activists since it does not aim not the energy products used by its customers.
Posted yesterday at 4:26 p.m.
ExxonMobil said in a press release that it aims to achieve net zero emissions within thirty years for its level 1 and 2 greenhouse gas emissions (scope 1 and 2), thus committing, in wholesale, that its operations absorb as much carbon as they emit.
Unlike other oil giants such as TotalEnergies, BP or Royal Dutch Shell, the American company has not made any progress on the emissions released by the use of the hydrocarbons it produces, such as the gasoline burned in the cars.
“Dealing with level 1 and 2 emissions is necessary, but absolutely not sufficient since the vast majority of emissions from oil and gas companies come from the products they sell”, reacted to AFP Mark Brownstein, of the American NGO Environmental Defense Fund (EDF).
GlobalData estimates that ExxonMobil’s Scope 3 emissions “are at least five times larger” than Scopes 1 and 2 and are “expected to increase by approximately 15% over the next five years.” “.
With less ambitious objectives than its major European competitors, ExxonMobil “risks losing ground […] as the transition to cleaner energy consumption accelerates,” said Will Scargill, industry specialist for GlobalData, in a note.
To do well, the company would not only have to deal with Tier 3 emissions, but also commit to the emissions of the companies with which it works in cooperation on particular projects, believes Mr. Brownstein.
Above all, once the major has detailed its roadmap, normally in 2023, “it must be transparent so that we can check whether the company is making good progress”, he adds.
The group initially plans to prioritize energy efficiency measures, methane emissions mitigation, equipment upgrades and the elimination of regular gas flaring operations.
ExxonMobil is then counting on projects for the cogeneration of electricity and steam and on the electrification of its operations via renewable or low-emission energies.
Appease civil society
The group is also betting heavily on its investments in carbon capture and storage projects, hydrogen and biofuels, another major contentious issue with environmentalists.
Above all, we must limit the use of hydrocarbons, says Kelly Sheehan of the NGO Sierra Club in a message to AFP.
“Without a commitment to limit the activities that are driving the climate crisis, Exxon’s climate plan is just another attempt to appease its shareholders and the general public without having to change its dangerous business practices.” , she believes.
ExxonMobil has, in fact, accelerated its environmental initiatives in response to growing pressure from citizens and investors concerned about climate change.
The company was notably imposed last year on the arrival on its board of directors of three representatives of the investment company Engine No. 1, which is pushing to emphasize renewable energies.
For the InfluenceMap think tank, the company’s lobbying also continues to pose a problem.
To achieve its new goals, ExxonMobil emphasizes the need for government policies to “accelerate the deployment of key technologies at the pace and scale required to support a net-zero emissions future.”
However, according to InfluenceMap analysts, ExxonMobil “outclasses all the majors in the oil sector” in terms of negative influence on climate policies, remarks Ed Collins, one of the leaders of this organization, in a message to AFP.
The major has notably “lobbied to block or weaken climate policies designed to reduce emissions in accordance with the objectives of the Paris Agreement”, he says.