ExxonMobil disclosed emissions data on customers’ use of its fuels and other products for the first time after receiving pressure from investors.
The oil giant’s Scope 3 emissions from petroleum-product sales were equivalent to 730 million metric tons of carbon dioxide in 2019, according to the company’s Energy and Carbon Summary released last week. This is the highest of all major Western oil companies.
Most Western oil majors already publish this information, and Exxon is following suit as "stakeholders have expressed growing interest," the company said in the report. However, the data “does not provide meaningful insight into the company’s emission-reduction performance and could be misleading in some respects.” Unlike other companies, Exxon has mainly focused on reporting Scope 1 and 2 emissions.
Details Courtesy of Exxon & Bloomberg.