“Exxon Discloses Full Scope of Fuel Emissions for First Time”

“Exxon Mobil Corp. disclosed emissions data on customers’ use of its fuels and other products for the first time after coming under pressure from investors.

The oil giant’s so-called 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 Tuesday. That’s about the same as the entire country of Canada and is the highest of all major Western oil companies.

Most Western supermajors already publish the information and Exxon is doing so because “stakeholders have expressed growing interest” in it, the company said in the report. However, the data “do not provide meaningful insight into the company’s emission-reduction performance and could be misleading in some respects.””

Kevin Crowley and Akshat Rathi report for Bloomberg Green January 5, 2021.