• ExxonMobil sets 2025 carbon reduction targets

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      Patrick Lavery

      Combustion Industry News Editor

After sustained investor pressure, ExxonMobil has announced a target to reduce its carbon emissions per barrel of oil produced by 15-20% from 2016 levels by 2025, as the Financial Times reports. The target applies to Scope 1 (from direct activities) and Scope 2 (produced from generation of electricity consumed) emissions, but not Scope 3 emissions (other indirect emissions), though the company will begin to publish its estimate of Scope 3 emissions, with director of greenhouse gas and climate change Pete Trelenberg saying that they “have been of keen interest to stakeholders we meet”. Alongside the headline reduction target, there are complementary targets to reduce methane emissions per barrel by 40-50% and flaring by 35-45%, both by 2025, and the elimination of routine flaring by 2030. The targets are the result, according to CEO Darren Woods, of “our ongoing business planning process as we work towards industry-leading greenhouse gas performance across all our business lines.” Environmental groups have generally not been welcoming of what they see as “piecemeal” intensity targets, though they are fairly significant reductions.