Wednesday, May 21, 2008

ExxonMobil issues its Corporate Citizenship Report

By Pegasus News wire

IRVING — Exxon Mobil Corporation improved its environmental, economic and social performance while continuing to supply energy necessary for economic growth and improved living standards, the corporation said today in its 2007 Corporate Citizenship Report.

Photo not provided by ExxonMobil

Through its efforts, Exxon has made the world a better place for Fifi, Smoochy and Snuggles

The report details how ExxonMobil reduced greenhouse gas emissions, led the industry in worker safety and oil-spill prevention, and contributed more than eight times its earnings -- a record $336 billion -- to economies around the world through taxes and purchases of goods and services.

“We are proud of our financial and operating results, but we are equally proud of our culture of integrity and commitment to act in a safe and responsible manner towards employees, the environment and local communities,” said Rex W. Tillerson, chairman and chief executive officer.

“How we achieve our results is every bit as important as the results themselves.”

ExxonMobil is working on technologies with the potential for near-term impact on greenhouse gas emissions, while at the same time looking for breakthrough technologies for the future.

Near-term initiatives include:

* Investing more than $100 million on improving natural gas treating technology, which could reduce costs for carbon capture and storage.

* Working with manufacturers of automobiles and commercial industrial vehicles to increase fuel economy by as much as 30 percent.

* Helping to enable the next generation of lower-emission hybrid and electric vehicles through the development of new film technologies to greatly enhance the power, safety and reliability of lithium-ion batteries.

* Conducting research and development of an on-vehicle hydrogen production system, which has the potential to improve vehicle efficiency by up to 80 percent while improving safety and eliminating the need for a hydrogen distribution infrastructure.

Longer-term initiatives include:

* Conducting internal research and supporting academic research to accelerate development of commercially viable energy technologies to lower emissions on a global scale -- such as hydrogen production, storage and use; biomass and solar energy; carbon dioxide capture and storage, and advanced transportation and coal technologies.

* Partnering with the European Commission to study carbon capture and storage in the CO2ReMoVe program, a research initiative to establish scientific monitoring systems and determine the reliability of geological carbon dioxide storage.

Other highlights include:

* A record low rate of lost time safety incidents for the company’s combined employee and contractor workforce, continuing ExxonMobil’s industry-leading safety record.

* Industry-leading oil spill prevention results, including no spills from ExxonMobil-operated marine vessels for the third consecutive year.

* Community investment spending of more than $206 million, which included $12.4 million in grants through ExxonMobil’s Africa Health Initiative and more than $6 million through the company’s Educating Women and Girls Initiative. In addition, ExxonMobil became a founding sponsor and committed $125 million to the National Math and Science Initiative as part of the corporation’s continued commitment to math and science education.

Interested readers can read the full report here.

Source: ExxonMobil

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