Meeting growing energy demand while reducing greenhouse gas (GHG) emissions is one of the most critical challenges facing our world today.
The scope of this challenge is evident in considering the outlook for energy demand over the next two decades alone: Global energy demand in 2030 is expected to be about 35% higher than it was in 2005, even assuming significant gains in efficiency. Most of this demand increase will be in developing countries, where economies and populations are growing most rapidly and a broad transition to more modern standards of living is occurring.
To meet this demand, we will need to develop all commercially viable energy sources, including nuclear, renewable, and alternative fuels. Yet fossil fuels will remain indispensable, continuing to account for around 80% of total energy in 2030.
Just as global demand is increasing, so too are GHG emissions associated with energy use. Globally, energy-related carbon dioxide (CO 2) emissions are expected to rise through 2030, by an average of 1% a year. Reflecting the enormous growth in countries that are not members of the Organisation for Economic Cooperation and Development, China’s CO 2 emissions will be comparable to the combined emissions of the U.S. and Europe by 2030.
Action Is Needed
Managing the risks from rising GHG emissions is an important concern, and one that ExxonMobil is committed to taking an active role in addressing.
We are taking action by reducing GHG emissions in our operations, helping consumers reduce their emissions, supporting research into technology breakthroughs, and participating in constructive dialogue on policy options with nongovernmental organizations, industry, and policy makers.
Since 2004, we have invested more than $1.5 billion to improve efficiency and environmental performance at our facilities worldwide, and we will spend at least half a billion dollars on additional initiatives over the next few years.
These actions are producing concrete results. Through efficiency actions implemented in 2006 and 2007 — including cogeneration and reductions in natural gas flaring — ExxonMobil reduced its GHG emissions by about 5 million metric tons in 2007, equivalent to removing about one million cars from U.S. roads.
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