ExxonMobil, the largest American producer of crude oil, outlined its plan Tuesday to achieve net zero carbon emissions by 2050, improving upon previous goals.
The major oil producer identified more than 150 “potential steps” that will help it achieve net zero emissions on its operations within 30 years, the company announced. ExxonMobil will increase investments in carbon capture and storage technology, hydrogen and biofuels, and bio-based plastic waste streams.
“ExxonMobil is committed to playing a leading role in the energy transition, and Advancing Climate Solutions articulates our deliberate approach to helping society reach a lower-emissions future,” ExxonMobil Chairman and CEO Darren Woods said in a statement.
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