Engine No. 1 Activist Presentation Deck
Long-Term Strategy - Focus on profitability today
while pragmatically repositioning for the future
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ExxonMobil has no plan to reposition for the future and relies instead on misleading
arguments about its emissions and carbon capture capabilities, yet argues that we must
produce a detailed business diversification plan from the outside looking in
This underscores the key problem: Repositioning for the future will be a massive internal
effort requiring a wide array of skills, but there is literally no one on the Board with a
record of profitable and transformative energy industry success, which is required along
with general business expertise
Adding this experience will enable the Board to begin the hard work of ensuring
ExxonMobil has a place in the future of energy, which we believe includes:
Fully exploring new growth areas with the benefit of relevant Board expertise
Leveraging this effort, together with improved capital allocation discipline,
to set long-term total emissions reduction targets that are truly Paris consistent
Developing a realistic carbon capture approach that acknowledges
that gas separation is not “leading" carbon capture technology and that even
advanced carbon capture is unlikely to save its business model
Committing to more robust and independently verified methane reduction
efforts including GMPO 2.0
REENERGIZE
EXXON//
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