Zero: The Climate Race Exxon thinks it can count carbon better
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Nov 12, 2025 Darren Woods, CEO of ExxonMobil and a key figure in energy transition discussions, shares insights on his attendance at COP30 amidst industry skepticism. He highlights Exxon's support for a new carbon accounting initiative and the need for non-ideological climate solutions that balance economic growth. Woods discusses the challenges and opportunities in low-carbon ventures, such as hydrogen projects and lithium extraction. He emphasizes the importance of emissions reporting for tax incentives and provides a glimpse into Exxon’s future strategies.
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Product-Level Carbon Accounting To Mobilize Markets
- Exxon backs carbon accounting to create product-level carbon intensity standards and spur market forces.
- Woods sees this as a flexible way for governments to set specs while engaging markets.
Start Small With Carbon Measures
- Start carbon-measure efforts incrementally, focusing on the 20% of products that cause 80% of emissions.
- Improve accuracy iteratively rather than waiting for a perfect, all-at-once system.
Accounting Analog Not Just Reporting
- Woods distinguishes Carbon Measures as an accounting analog anchored in chemistry, not mere reporting.
- He argues current GHG Protocol reporting can double-count and misassign accountability across supply chains.