The world faces a dual energy challenge: how to supply growing energy needs around the globe, while at the same time, addressing the risks of climate change.
Key to solving this will be investing in and developing technologies to reduce the greenhouse gas emissions associated with energy development. ExxonMobil today announced comprehensive reduction measures to accomplish just that.
By 2020, the company plans to reduce its natural gas flaring by 25 percent and cut its methane emissions by 15 percent, part of an expansive agenda that also includes continued investment into lower-emission energy solutions.
ExxonMobil’s toolbox for lowering emissions includes a range of advanced technology solutions, from cogeneration – which captures heat from electricity production and reuses it elsewhere – to the development of algae as a biofuel. Since 2000, ExxonMobil has spent more than $9 billion on lower-emissions energy solutions.
Take a look at our video and infographic for more on the company’s path forward for meeting global energy needs and reducing emissions.