Skip to main content
Access every election story that matters
Enjoy unlimited digital access
$1.99
per week for 24 weeks
Access every election story that matters
Enjoy unlimited digital access
$1.99
per week
for 24 weeks
// //

Exxon Mobil Corp. is considering a pledge to reduce its net carbon emissions to zero by 2050, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The report comes more than two months after the oil major’s shareholders cast out three Exxon directors for the nominees of a hedge fund that promised to boost returns and better prepare the company for a low-carbon world.

Exxon has not made a final decision on the net-zero pledge, the report said. It added that the company planned to unveil a series of strategic moves on environmental and other issues before the end of 2021.

Story continues below advertisement

Exxon did not immediately respond to a Reuters request for comment.

Its Chief Executive Darren Woods said last week that Exxon had started working with the new directors in June for in-depth reviews of its businesses, including its approach to the energy transition.

Exxon currently plans to reduce greenhouse gas emissions by an estimated 30% in its oil and gas production business, as part of a plan that is expected to be achieved by 2025.

The largest U.S. oil company in July also joined some of the world’s other top oil firms in setting up goals to cut their greenhouse gas emissions as a proportion of output.

But Exxon’s plan, which covers emissions from its direct operations and emissions from the power it uses for its operations, has lagged those of its European rivals. BP Plc and Royal Dutch Shell Plc have also pledged to cut emissions from products sold in their plans.

Exxon was also recently embroiled in controversy after a lobbyist for the company said it supports a carbon tax publicly because the plan to curb climate change would never gain enough political support to be adopted. CEO Woods condemned those comments.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Your Globe

Build your personal news feed

  1. Follow topics and authors relevant to your reading interests.
  2. Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.

Follow topics related to this article:

View more suggestions in Following Read more about following topics and authors
Report an error
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

If you do not see your comment posted immediately, it is being reviewed by the moderation team and may appear shortly, generally within an hour.

We aim to have all comments reviewed in a timely manner.

Comments that violate our community guidelines will not be posted.

UPDATED: Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies