Rex Tillerson, chairman and chief executive of ExxonMobil, has highlighted two critical energy challenges that the world currently faces, namely meeting the economic needs of growing populations, especially in developing countries, and addressing the risks of climate change.
Speaking at the International Business Leaders Program in London, UK, Mr Tillerson 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.
We must care enough to treat the risks of global poverty and global warming seriously, Mr Tillerson said, we need to manage the risks effectively if we are to maximize the economic and environmental benefits available to future generations.
Mr Tillerson said that, since 1999, the company has taken steps that have resulted in the avoidance of 12 million tonnes of greenhouse gas emissions in 2006 alone, which is equivalent to taking about two million US cars off the road.
Mr Tillerson went on to say that ExxonMobil 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, he said.
