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It also published targets to reduce methane intensity by 40-50% and “flaring” intensity by 35-45%. In plans the company called “ projected to be consistent with the goals of the Paris Agreement”, the company committed to reduce the intensity of upstream (Scope 1 and 2) emissions from its operated assets by 15-20% compared to 2016 levels, which it says is expected to deliver around 30% in absolute emission reductions for its 'Upstream' business. Months later, in December 2020, Exxon bowed to investor pressure and issued targets for its own business. In March 2020, CEO Darren Woods dismissed oil and gas companies’ emissions intensity targets and divestment of fossil fuel assets as a “ beauty competition”, pointing instead to steps to resolve climate change for society as a whole. While ExxonMobil says it supports the Paris Agreement, the vast majority of its operations remain focused on fossil fuels. More and quicker emissions reductions would be required to limit temperature rise to the Paris goal of 1.5☌ and to avert more climate harms to people and to the environment. In this scenario, total temperature rise is limited to 1.75☌ by 2100. The Benchmark estimates that over $10.4 billion of Exxon’s 2019 capital expenditure on ‘upstream’ fossil fuel extraction and production, and 88% of the company’s future capital expenditure, conflict with the International Energy Agency’s ‘Beyond Two Degrees’ scenario.

Exxon’s short-term targets are not considered by the Benchmark to cover all its emissions or to align with net zero pathways.ĮxxonMobil is also scored ‘No’ for failing to commit to align its capital allocation (investments) with its targets, let alone with the Paris Agreement goal to limit global temperature rises to 1.5☌ above pre-industrial levels. The Climate Action 100+ Net Zero Company Benchmark finds that ExxonMobil meets none of the Benchmark’s targets criteria – ExxonMobil does not have either an ambition to reach ‘net zero’ or net zero-aligned short, medium and long-term GHG reduction targets which cover its emissions. The company’s 2025 targets have been rejected as falling far short of the Paris goals and woefully inadequate for ignoring the vast majority of its climate impacts in the form of its Scope 3 emissions. To read more about Dr.Laszlo, visit his personal site.ExxonMobil has not set a company-wide net-zero emissions target consistent with the Paris Agreement temperature goals.

#Worldshift international org free

He is the author or co-author of 54 books translated into 23 languages, and the editor of another 31 including his new book, WorldShift 2012: Making Green Business, New Politics, and Higher Consciousness Work Together.Įarlier this year, with Marco Roveda, he electronically published a free e-book, Finding Bliss in the Shift, which describes the roots of our global sustainability crisis and the way we can overcome it through a shift in consciousness. Laszlo is the recipient of the Peace Prize of Japan (the Goi Award), and the International Mandir of Peace Prize in Assisi, and has been nominated for the Nobel Peace Prize. from the Sorbonne and is the recipient of honorary Ph.D.’s from the United States, Canada, Finland, and Hungary.ĭr.

He is the Founder and President of the Club of Budapest, President of the WorldShift Network, the Founder of the General Evolution Research Group, Co-Chair of the World Wisdom Council, Fellow of the World Academy of Arts and Sciences, Member of the International Academy of Philosophy of Science, Senator of the International Medici Academy, and Editor of the international periodical World Futures: The Journal of General Evolution. Ervin Laszlo is a Fellow of the World Business Academy.