Spring, Texas - ExxonMobil has signed on to the World Economic Forum’s Clean Skies for Tomorrow ambition statement, which aims to put the global aviation sector on the path to net-zero emissions by 2050. This signing furthers our efforts to play a leading role in the energy transition, helping reduce global greenhouse gas emissions while delivering the energy essential to modern life.
ExxonMobil has been a leader in innovation for more than 140 years, supplying products that people need to live healthy, prosperous lives in an ever-changing world. We’ve been a trusted partner of the aviation industry for more than a century, providing fuels, oils and lubricants to power flights from the Wright Brothers to the space shuttle.
The producers, airlines and airports that have signed the statement Ambition Statement > Clean Skies for Tomorrow Coalition | World Economic Forum (weforum.org) support the shorter-term ambition for sustainable aviation fuel (SAF) technologies to reach 10% of global jet aviation fuel supply by 2030. SAF, made from a blend of renewable sources and fossil jet fuel, can reduce CO2 emissions by up to 80% compared to traditional jet fuel, according to the International Air Transport Association.
To help reach those ambitions, we are working to develop the next generation of energy solutions, including deliveries of SAF. In July 2022, we delivered the first cargo of certified SAF to Singapore Changi Airport as part of a one-year pilot project. The fuel, blended at our facilities in Singapore, is powering Singapore Airlines and Scoot flights from Changi. We’re also delivering SAF to customers in France and the United Kingdom.
These deliveries are part of our longer-term plan to play a leading role in the world’s effort to bring down emissions. Through 2027, we plan to invest approximately $17 billion on initiatives that include scaling up carbon capture and storage, hydrogen, and biofuels. We are working to supply more than 40,000 barrels per day of lower-emissions fuels by 2025 and we have a further goal of 200,000 barrels per day by 2030.
Reducing aviation emissions while expanding the economic and social benefits of air travel will require supportive policies, targeted investments and fiscal support, as well as technology-neutral regulations that include incentives for the transformation of aviation fuels.
Through Clean Skies for Tomorrow, we look forward to working alongside the broad coalition of stakeholders helping to put the global aviation sector on a path toward net-zero emissions by 2050.
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