Exxon’s Partial Net-Zero Target Is Surprisingly Useful
In promising to lower a small share of emissions, the company illuminates society’s failure to meaningfully reduce demand for fossil fuels.
By 2050, the company promises to lower emissions from oil and gas production.
Photographer: Dean Mouhtaropoulos/Getty ImagesExxon Mobil Corp. is going net-zero. Kinda. Well, not really.
The oil major announced Tuesday that it aims to have net-zero emissions from its operated assets by 2050, on a scope 1 and 2 basis. That is, emissions related to the production of oil and gas, not their use. This matters quite a bit when you consider that more than four-fifths of emissions from those fossil fuels relate to their use, or so-called scope 3 emissions. In short, from a societal perspective, there is no such thing as being net-zero on scope 1 and 2 emissions; it’s like being half — or, more accurately, one-fifth — pregnant.