LONDON, June 21 /CNW/ - Speaking today at Chatham House, London, Rex W.
Tillerson, Chairman and Chief Executive of Exxon Mobil Corporation (NYSE: XOM),
discussed two critical energy challenges which the world currently faces:
meeting the economic needs of growing populations, especially in developing
countries, and addressing the risks of climate change.
Tillerson was speaking as part of Chatham House's new International
Business Leaders Programme.
He described the actions ExxonMobil is taking in partnership with others
to address both challenges, and also discussed a framework for economic and
climate change policymaking.
"It has become increasingly clear that climate change poses risks to
society and ecosystems that are serious enough to warrant action - by
individuals, by businesses and governments."
Reaffirming ExxonMobil's commitment to being a constructive and active
participant in dialogues concerning proposals to reduce greenhouse gas
emissions, Tillerson outlined the company's views on important elements for
policymaking. "We believe that maximizing the use of markets to select and
deploy technologies will best serve society's interests in the long term and
meet future energy needs. Achieving a uniform and predictable cost for carbon
across the economy will enable market mechanisms to work effectively to this
He highlighted ExxonMobil actions to increase energy efficiency in the
short-term, advance current emission-reducing technologies in the medium-term,
and develop breakthrough technologies in the long term. Citing ExxonMobil's
long standing commitment to energy efficiency, he said that steps the
corporation has taken since 1999, resulted in the avoidance of 12 million
tonnes of greenhouse gas emissions in 2006 alone which is the equivalent to
taking about two million U.S. cars off the road.
In describing ExxonMobil's work with partners, Tillerson reported that
the company is working on an innovative fuel system using liquid hydrocarbon
fuels to generate hydrogen onboard vehicles, potentially reducing emissions
without the need for a dedicated hydrogen distribution infrastructure. "We
still have a long road ahead, but our progress in making hydrogen-fueled
vehicles commercially viable is encouraging."
"We must care enough to treat the risks of global poverty and global
warming seriously," he concluded, "we need to manage the risks effectively if
we are to maximize the economic and environmental benefits available to future
Full text of the speech is available on the ExxonMobil website.
NOTES TO EDITORS
-- The International Business Leaders Programme aims to encourage debate
amongst senior business figures on issues which bridge the gap between
international affairs, global business and commerce. The inaugural event took
place in November 2006 and Rex Tillerson was the second speaker in this
-- The International Energy Agency estimates that, by 2030, it is likely
world energy demand will increase by 45 percent. This growth equates to about
100 million barrels of oil equivalent a day, which is in addition to the 240
million barrels oil equivalent a day currently consumed.
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