US oil major ExxonMobil has publicly reported its Scope 3 emissions for the first time amid increasing pressure from investors.
Scope 3 refers to the indirect emissions associated with the consumption and use of the company’s products, which are often considered to determine an organisation’s total carbon footprint.
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According to the company, emissions from its petroleum product sales in 2019 were equivalent to 730 million metric tonnes of carbon dioxide. The figure is higher compared to other oil majors, Reuters reported.
However, ExxonMobil noted: “Reporting Scope 3 emissions, however, is less certain and less consistent because it includes the indirect emissions resulting from the consumption and use of a company’s products occurring outside of its control.
“Evaluating a company’s Scope 3 emissions and comparing them to other companies can be challenging due to inconsistent reporting methodologies, as well as potential duplication, inconsistencies and inaccuracies that may occur when reporting emissions that are the result of activities from assets not owned or controlled by the reporting organisation.”
Most of the major oil companies already report Scope 3 emissions with some already setting reduction targets.
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By GlobalDataExxonMobil, which has published the company’s Scope 1 and Scope 2 greenhouse gas emissions data for several years, now plans to disclose Scope 3 data on an annual basis.
The company added that it will continue to invest in new technologies to trim emissions. It is also collaborating to facilitate research and the commercialisation of biofuels, direct air capture, and to reduce the cost of carbon capture and storage.
