Engine No. 1 Activist Presentation Deck
ExxonMobil has sought to obscure long-term risk
by distorting its long-term emissions trajectory
●
GHG Emissions Indexed to 2016
While in the past ExxonMobil sought to disrupt the work of Intergovernmental
Panel on Climate Change (IPCC), today it seeks to distort the meaning of its work
Arguing that reducing emissions intensity (emissions per unit produced), while
ExxonMobil continues to pursue production growth and thus increases overall
emissions, puts it on a "Paris consistent" path fails the basic test of logic
25%
0%
-25%
-50%
ExxonMobil's Claimed GHG Emissions Trajectory Versus Reality
Net Zero
Claimed GHG
Emissions
(Operated Production
-75% and Scope1&2 Only)
2016 2020
2025
Reality: Looking at ExxonMobil's total carbon emissions trajectory
highlights long-term risk to investors in a decarbonizing world
1.5°C Pathway
2025E
2050
Society's Emissions
Source for first bullet: "Exxon states that it has 'participated in the [IPCC] since its inception in 1988.' ... A primary goal was to undermine the IPCC process,
sending large delegations to IPCC meetings, targeting IPCC scientists with accusations of 'scientific cleansing,' and cherry-picking data to suggest warming
might simply be 'part of a natural warming trend which began nearly 400 years ago." (Kate Aronoff (January 8, 2021). ExxonMobil is Twisting Itself in Knots to
Justify Pumping Even More Oil. The New Republic)
Note: 2025E GHG Emissions per Engine No. 1 estimate across Scope 1 & 2 on a net equity basis with Scope 3 per the IPIECA
Category 11 methodology. Assumes 2025E production of ~3.99mm boe/d and gas versus liquids split per March 2021 Wall Street research model.
2°C Pathway
2070
REENERGIZE
EXXON//
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