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ExxonMobil creates low carbon technology business

Advertisement ExxonMobil has created a new business to commercialise its low-carbon technology portfolio. The new business, ExxonMobil Low Carbon Solutions, will initially focus on carbon capture and storage, one of the critical technologies required to achieve net zero emissions and the climate goals outlined in the Paris Agreement. ExxonMobil Low Carbon Solutions is advancing plans for more than 20 new carbon capture and storage opportunities around the world to enable large-scale emission reductions. ExxonMobil plans to invest US$3 billion on lower emission energy solutions through 2025. The business will be led by Joe Blommaert. The board of directors has elected him as a vice president of ExxonMobil.

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Exxon launched a $3 billion effort focused on lowering its emissions after investors pressured the oil giant to address climate change

Exxon launched a $3 billion effort focused on lowering its emissions after investors pressured the oil giant to address climate change bjones@businessinsider.com (Benji Jones) © Barry Lewis/InPictures via Getty Images An Exxon refinery in Baton Rouge, Louisiana Barry Lewis/InPictures via Getty Images Exxon Mobil on Monday announced a new business focused on low-emissions technologies. The business will initially focus on carbon capture, a technology Exxon has been developing for years. The announcement follows mounting pressure from investors who have been pushing the company to do more to address climate change. Exxon Mobil, the largest US oil company, announced on Monday that it was forming a new business focused on low-emissions technologies including carbon capture. The announcement follows reports that investors with more than $2 trillion in assets are pressing the company to move more quickly to address climate change.

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ExxonMobil Low Carbon Solutions to commercialize emission-reduction technology

ExxonMobil has created a new business to commercialize its extensive low-carbon technology portfolio. The new business, ExxonMobil Low Carbon Solutions, will initially focus on carbon capture and storage, one of the critical technologies required to achieve net zero emissions and the climate goals outlined in the Paris Agreement.

United statesFrance generalUnited kingdomZuid hollandRas laffanAl khawrNorth seaOceans generalJoe blommaertExxon mobil corporationExxonmobil low carbon solutionsFuelcell energyQatar petroleumInternational energy agencyEuropean unionUnited nations intergovernmental panel on climate

Exxon launches business focused on low-emissions technologies

The company will put $3 billion into low-carbon technologies through 2025 and initially focus on carbon capture and storage.

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ExxonMobil Sharpens Focus on Cutting CO2 Emissions

ExxonMobil Sharpens Focus on Cutting CO2 Emissions by Ship & Bunker News Team Tuesday February 2, 2021 Oil major ExxonMobil Low Carbon Solutions will initially focus on carbon capture projects including on the Porthos project at Rotterdam, the company has said. Porthos will see carbon dioxide (CO2) emissions from industry and transport stored in depleted North Sea offshore gas fields. The firm is also looking at its involvement in the Acorn CO2 storage project in northeast Scotland. FuelCell Energy, to advance fuel cell technology, and Global Thermostat, which looks taking CO2 from the air, form part of its strategy to tackle carbon output, according to the company.

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