ExxonMobil has announced a goal to cut greenhouse gas emissions at its oil and gas operations to net zero by 2050 as it responds to investor pressure to clean up its business.
The Texas-based supermajor said it would publish a “road map” by the end of 2022 demonstrating how it would reduce emissions at its own operations but stopped short of including the carbon emitted from the fuel it sells.
The pledge is a big step for Exxon, which had previously resisted setting a 2050 net zero target, arguing it did not have a realistic plan to achieve it. But the move falls short of the commitments to cut emissions already made by European rivals such as BP and Shell.
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