Engine No. 1 Activist Presentation Deck
Even by its own limited standards, ExxonMobil has gone
backwards and aims to do worse in 2025 than 2010
ā
ā
Upstream emission intensity has worsened over the last decade, increasing 26%
in 2019 vs. 2009
ExxonMobil has set a target of reducing upstream intensity by 15-20% by 2025
(vs. 2016 baseline) for operated assets, which is 6-8% higher than 2009-2010
ExxonMobil's refusal to join the Oil and Gas Methane Partnership (OGMP) 2.0,
which requires verified emissions reduction reporting versus using theoretical
engineering calculations, calls the legitimacy of its goals into further question
Upstream Emission Intensity - Scope 1 & 2 (in tonnes of CO2 per 100 tonnes of production)
28
26
24
22
20
20.1
2009
20.5
2010 2011 2012 2013 2014
2020 Energy & Carbon Summary
26.3
24.7
6% upward
revision in base
year (2016)
2019 intensity 26%
higher than 2009
intensity
2015 2016 2017
-2021 Energy & Carbon Summary
25.4
2018
2025 target 8%
higher than 2009
intensity
2019 2020E 2021E 2022E 2023E 2024E 2025E
Estimate based on targeted reduction
Source: ExxonMobil Energy and Carbon Summary 2020 and 2021. 2025 target intensity assumes a 17.5% intensity reduction (mid point of 15-20% target)
from 2016; assumes reduction is for all assets vs. company operated assets. 2020-24 estimates assume a linear decline in intensity.
21.7
REENERGIZE
EXXON//
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