ExxonMobil targets net-zero scope one and two emissions by 2050

Oil major plans to invest more than $15bn on low-carbon initiatives by 2027

US oil major ExxonMobil has announced an ambition to reach net-zero scope one and two greenhouse gas (GHG) emissions by 2050. Unlike most European oil and gas firms, the commitment does not include scope three, which usually represent the largest share of overall emissions. Eni, Total, BP, Shell, Equinor, Repsol and Occidental have set 2050 net-zero targets that cover emissions from the use of their oil and gas as well as from the operations that produce it. ExxonMobil will set out interim emission-reduction plans with its 2030 targets, including a net-zero plan for its Permian Basin operations. The company has identified more than 150 potential steps and modifications that can be applied to