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Exxon’s Emissions-Reduction Pledge Lags Supermajor Rivals’

  • U.S. oil titan plans 20% cut in greenhouse gases by end 2030
  • Company overhauls climate approach in wake of board shakeup
Photographer: Luke MacGregor/Bloomberg
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Exxon Mobil Corp. pledged to cut greenhouse-gas emissions 20% by 2030, marking its most ambitious emissions target to date but falling far short of the sweeping climate commitments from some of its biggest rivals.

While it’s Exxon’s first explicit promise to reduce overall pollution, the goals stand in stark contrast to plans by BP Plc and Royal Dutch Shell Plc to totally eliminate emissions by the middle of the century. In addition, Exxon’s target only applies to company assets like oil wells and refineries -- known as Scope 1 and 2 sources -- and excludes partnerships as well as the much larger volume of Scope 3 emissions that arise from the use of its products by customers.