ExxonMobil to join Oil and Gas Climate Initiative
US-based multinational oil and gas company, ExxonMobil, has announced it will join the Oil and Gas Climate Initiative (OGCI).
OGCI is a voluntary initiative representing 13 of the world’s largest oil and gas producers working collaboratively toward solutions that could mitigate the risks of climate change. Its current members include Shell, BP, Equinor and Total among others.
The programme focuses on developing practical solutions in areas including carbon capture and storage, methane emissions reductions and energy and transportation efficiency, with the long-term goal of developing sustainable solutions to reduce greenhouse gas emissions.
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Darren Woods, Chairman and CEO of ExxonMobil, stated: “It will take the collective efforts of many in the energy industry and society to develop scalable, affordable solutions that will be needed to address the risks of climate change.
“Our mission is to supply energy for modern life and improve living standards around the world while minimising impacts on the environment. This dual challenge is one of the most important issues facing society and our company.”
Earlier this year, ExxonMobil announced initiatives to lower greenhouse gas emissions associated with its operations by 2020, including reducing methane emissions by 15%.
Over the past two decades, the company has spent over $9bn on developing and deploying higher-efficiency and lower-emissions energy solutions across its operations.