In an ExxonMobil blog post, new Chairmen and CEO Darren Woods spoke on the topic of climate change and the company’s proposal to reduce emissions using carbon capture and storage technology (CCS), amongst other methods.
Woods stated, “I believe, and my company believes, that climate risks warrant action and it’s going to take all of us – business, governments and consumers – to make meaningful progress. At ExxonMobil, we’re encouraged that the pledges made at last year’s Paris Accord create an effective framework for all countries to address rising emissions; in fact, our company forecasts carbon reductions consistent with the results of the Paris accord commitments.”
ExxonMobil is investing heavily in CCS, including research in a novel technology that uses fuel cells that could make CCS more affordable and expand its use.
ExxonMobil entered into an agreement with FuelCell Energy back in May 2016, to develop carbonate fuel cell technology in carbon dioxide (CO2) capture plants.
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