Engine No. 1 Activist Presentation Deck
ExxonMobil's static view of the future represents poor risk
management and risks continued value destruction
ExxonMobil
• Long-term business planning centered
narrowly on projections of oil and gas
demand growth for decades
●
Focus on near-term emissions intensity
reduction, despite existential business.
model risk created by long-term
trajectory of growing total emissions
●
Diversification efforts have delivered
more advertising than results
• Near total reliance on hope of carbon
capture to preserve business model
Scope 3 emissions are an issue for
society to resolve, rather than a
business risk
●
ENGINENO
Capturing long-term business
diversification opportunities and
managing business risk requires more
dynamic long-term planning
ExxonMobil's long-term trajectory of
growing emissions creates existential
long-term business model risk in a
rapidly decarbonizing world
• Carbon capture - particularly as
practiced by ExxonMobil - is unlikely to
avoid need for long-term evolution
Scope 3 emissions are a fundamental
long-term threat to business model
REENERGIZE
EXXON//
25View entire presentation