Engine No. 1 Activist Presentation Deck
ExxonMobil paints an unrealistic picture of the likelihood
that carbon capture will obviate the need for change ...
●
It is true that the IPCC and IEA have
said that carbon capture is critical for
a 2° C pathway, but they have made
clear that it is not a substitute for
dramatically reducing conventional
fossil fuel usage
While ExxonMobil has trumpeted
carbon capture, its actual carbon
captured has changed little
All of the world's existing carbon
capture projects can capture less
than 0.1% of global emissions
Projects to reduce Scope 3 emissions.
are incredibly costly and prone to
failure, and heavily dependent upon
government subsidies
"It is important to note that carbon removal
technologies are not an alternative to cutting
emissions or an excuse for delayed action."
International Energy Agency (IEA) (2020)
Quote Source: IEA. Going Carbon Negative: What Are the Technology Options? (January 31, 2020)
Sources: Chart and Table Source: ExxonMobil 2021 Energy and Carbon Summary.
ExxonMobil's Carbon Capture of 6.8Mn tons is <1%
of its Annual Emissions of 690Mn tons of CO2
570
6.8
120
(in million metric tons of CO2 eq. per year)
CO2 captured for storage
by ExxonMobil
Scope 1 & 2
■Scope 3
■Carbon Captured
2014 2015 2016
6.9 6.9 6.3
2017 2018 2019
6.6 7.0 6.8
In short, even the most advanced carbon capture is highly unlikely to enable
ExxonMobil to avoid transforming its business model over the long-term
REENERGIZE
EXXON//
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