Exxon sets 2050 net zero carbon emission goal… sort of

Not that I’m for this kind of feel good nonsense, but, if this gets the crazy environmentalists off their backs I’m all for it. I worry they will just want more.

The oil giant said Tuesday it had developed detailed emission-reduction plans for major facilities and assets and can profitably navigate the nascent transition to greener energy sources. In a bruising proxy fight last year, an activist hedge fund elected three new members to the company’s board after criticizing its transition strategy.

Exxon’s new goal doesn’t cover emissions from use of its products, such as gasoline and other fuels made from refined oil, or natural gas burned in homes, which make up most of the emissions connected to the company. It also doesn’t apply to oil fields or other assets it is invested in but doesn’t operate.

“We are developing comprehensive road maps to reduce greenhouse-gas emissions from our operated assets around the world, and where we are not the operator, we are working with our partners to achieve similar emission-reduction results,” Exxon Chief Executive Darren Woods said.

Exxon Pledges to Reduce Carbon Emissions From Operations to ‘Net Zero’ – WSJ