Exxon Mobil Corporation | Additional carbon capture and storage report card at Exxon Mobil Corporation
Previous AGM date
How other organisations have declared their voting intentions
|Organisation name||Declared voting intentions||Rationale|
|CoreCommodity Management, LLC||Against|
|Anima Sgr||Against||The company’s 2023 Advancing Climate Solutions Progress Report provides year over-year data on CO2 captured for storage. The report also discloses Scope 1 and 2 emissions data. The board cites the Clean Air Task Force which states that, “On a life cycle basis, which includes global oil market impacts, 63 percent of all CO2 stored through EOR is a net reduction in CO2 emissions. Compared to conventional oil, every barrel of CO2-EOR oil emits 37 percent less CO2.”
The IEA and IPCC have also published reports on the viability of CCS as a decarbonization strategy.
The information requested by the proponent is not standard industry practice, and the company’s existing disclosure of its carbon capture and storage efforts and related metrics appears sufficient for investors to be able to determine related risks and how the company is addressing them.
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