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We recently launched the Center for Operations & Methane Emissions Tracking (COMET) in Houston, enabling
real-time responses using incoming methane observations from our multilayered detection system. |
Working to enhance
quantification, collaboration, and communication
Quantification technologies are still emerging and do not currently provide consistent,
repeatable results at the site/point-source level. In many countries where we have operations, there are significant access and security issues, as well as a limited number of providers to support measurement and quantification technologies.
Currently, there are no standard protocols to incorporate direct measurement into the quantification of methane emissions. Even so, we are recognized as an
industry leader by the Environmental Defense Fund in its three-year direct measurement study4 in the Permian Basin.
Industry-wide, the quality of reported data has improved, even with only a minority of assets reporting measurement-based emission estimates (i.e., OGMP 2.0
Level 4 and Level 5), and many not reporting at all.
Methane emissions have a limited impact on our overall emissions profile, which we report
based on internationally recognized methodologies:
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Global methane emissions comprised 4.2% of our reported Scope 1 greenhouse gas emissions on an operated basis in
2022. |
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For example, if our reported methane emissions were to double, overall Scope 1 operated emissions would increase
by approximately 4%. |
An independent third party, Lloyd’s Register, has provided a quality assurance statement5 that our 2021 GHG emissions reporting meets industry standards.
Beyond our reporting, we share
knowledge and collaborate through industry and academic consortiums to advance the scientific understanding of the calculations and models. For example, we recently joined the Gas Technology Institute-led
Veritas6 to develop and implement a standardized, science-based, technology-neutral, measurement-informed approach to reporting methane emissions.
Consistent with OGCI’s Aiming for Zero Methane Emissions Initiative,7 our strategy is
implementing all reasonable means to avoid methane venting and flaring, and to repair detected leaks.
Given the significant progress we are making to
measure and reduce emissions and the comprehensive disclosures we already make available to the public, we believe shareholders should vote AGAINST “Item 8 – Additional Direct Methane Measurement.”
Thank you for your investment in ExxonMobil.
Kind regards,
Investor Relations Team
Exxon Mobil Corporation