So today we announced significant greenhouse gas reduction measures across our operations, including a plan to reduce methane emissions by 15 percent and reduce flaring by 25 percent by 2020.
ExxonMobil already leads the industry in pursuing energy efficiency in refining – we’ve achieved a 10 percent improvement in efficiency since 2000, for instance – and in lowering the energy intensity of our chemical operations.
But we know we can do more.
Since 2000, we’ve spent more than $9 billion on energy efficiency and technologies to reduce emissions. Going forward, we will continue to invest in lower-emissions energy solutions – everything from cogeneration, flare reductions and efficiency upgrades to research into next-generation biofuels and advanced carbon capture and storage.
Today’s announcement builds on steps we’ve implemented over the past year to reduce methane emissions, including leak-detection-and-repair efforts and operational improvements throughout the U.S. These have already accounted for a 2 percent reduction in emissions in just a short time, so we know we’re on the right track.
We know that sound public policy plays an important role, too. That’s why ExxonMobil has been advocating for sound policies and regulations on methane emissions.
We’re committed to producing the energy the world needs. And we’ll continue to do that in the most environmentally responsible manner possible.