ExxonMobi Corp. will join the Oil & Gas Climate Initiative (OGCI), a group of 13 of the world’s largest oil and gas producers working collaboratively toward solutions to mitigate the risks of climate change.
The CEO-led organization focuses on developing practical solutions in areas including carbon capture and storage, methane emissions reductions, and energy and transportation efficiency (OGJ Online, Oct. 27, 2017). As part of the initiative, ExxonMobil will expand its investment in research and development of long-term solutions to reduce greenhouse gas emissions as well as partnerships and multi-stakeholder initiatives that will pursue lower-emission technologies.
“Our mission is to supply energy for modern life and improve living standards around the world while minimizing impacts on the environment. This dual challenge is one of the most important issues facing society and our company,” said Darren Woods, ExxonMobil chairman and chief executive officer.
Earlier this year, ExxonMobil announced initiatives to lower GHG emissions associated with its operations by 2020, including reducing methane emissions 1% and flaring by 25% (OGJ Online, May 23, 2018).
OGCI was established following the 2014 World Economic Forum and formally launched at the United Nations Climate Summit the same year. Members include BP PLC, Chevron Corp., China National Petroleum Corp., Eni SPA, Equinor, ExxonMobil, Occidental Petroleum Corp., Petroleos Mexicanos, Petroleo Brasileiro SA, Repsol SA, Royal Dutch Shell PLC, Saudi Aramco, and Total SA.
