Prototype company example
ExxonMobil
ExxonMobil projects fewer emissions per unit of output, but more emissions overall.
Read the findings ↓
Illumination Index
11/22
Findings ↓
Research detail ↓
Sources ↓
ExxonMobil’s climate messages, projected emissions, what its targets include and the rules used to calculate the figures
What was reviewed:
What this means for you:
Efficiency and total emissions are different measures. A company can emit less for each unit it produces while emitting more overall if production grows.
Details behind the findings
About +6%
Projected change in total life-cycle emissions by 2030, compared with 2016
About -8%
Projected change in emissions per unit of output over the same comparison
What The Illumination Index Found
The study records a projected fall of about 8% in emissions per unit of output, alongside a rise of about 6% in total emissions, by 2030 compared with 2016. These figures cover the full life cycle, including activities beyond the company’s own operations.
1
The two emissions measures point in different directions.
Findings
What this means:
These are forecasts, not measured 2030 results. A headline about improved efficiency does not, by itself, show that the total amount of emissions is falling.
The study compared an earlier plan covering company emissions with a later forecast covering emissions across the full life cycle. The figures include different activities.
2
Earlier and later plans counted different emissions.
What this means:
The figures cannot establish a direct reversal without first accounting for those differences. Check what is included before comparing percentages.
Different calculation rules can produce different comparisons.
The study examined ExxonMobil’s proposed Carbon Emissions Accounting approach alongside the Greenhouse Gas Protocol, a widely used set of reporting rules.
3
What this means:
Figures calculated under different rules cannot be assumed to mean the same thing. The methods need to be checked before comparing companies.
How to read the research detail
These are the original names used in the research. Each indicator is a question applied to the same selected messages and records. The explanation below each name tells you what was checked. The number records what the researcher found in those materials.
Some labels need their explanation. “Third-party verification” checks whether outside support is missing or described inaccurately; a higher value does not mean more outside review.
0 - Not detected
1 - Partially detected
2 - Clearly detected
ESG means environmental, social and governance. TCFD means Task Force on Climate-related Financial Disclosures, a framework for reporting climate related business risks and opportunities. Indicator values describe the original coding behind the overall result.
What is the TCFD?
TCFD stands for Task Force on Climate-related Financial Disclosures. It is a framework that helps companies explain how climate-related risks and opportunities could affect their business, strategy and financial planning. TCFD helps make climate reporting easier to evaluate and compare.
References
Environmental Resources Management (ERM CVS). Independent limited assurance statement: ExxonMobil greenhouse gas emissions and energy use data. ERM.
ExxonMobil. (2024). 2024 advancing climate solutions progress report. https://corporate.exxonmobil.com/sustainability-and-society/climate-solutions
ExxonMobil. (2024). 2024 sustainability report. https://corporate.exxonmobil.com/sustainability-and-society/sustainability-report
ExxonMobil. (2024). Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Form 10-K). U.S. Securities and Exchange Commission. https://investors.exxonmobil.com/financial-information/annual-reports-and-proxy
ExxonMobil. (n.d.). Real world progress . https://lowcarbon.exxonmobil.com/about-us/real-world-progress
InfluenceMap. (2025). ExxonMobil: Climate policy engagement . https://lobbymap.org/company/ExxonMobil
International Energy Agency. (2023). Net zero by 2050: A roadmap for the global energy sector. IEA. https://www.iea.org/reports/net-zero-by-2050
Ipieca & IOGP. (2023). Ipieca–IOGP petroleum industry guidelines for reporting greenhouse gas emissions (3rd ed.). Ipieca. https://www.ipieca.org/resources/good-practice/ipieca-iogp-petroleum-industry-guidelines-for-reporting-greenhouse-gas-emissions/
Net Zero Tracker. (n.d.). ExxonMobil . Energy & Climate Intelligence Unit, Oxford Net Zero, NewClimate Institute, & Data-Driven EnviroLab. https://zerotracker.net
Science Based Targets initiative. (n.d.). SBTi target dashboard . https://sciencebasedtargets.org/companies-taking-action
World Resources Institute & World Business Council for Sustainable Development. (2004). The greenhouse gas protocol: A corporate accounting and reporting standard (Rev. ed.). WRI/WBCSD. https://ghgprotocol.org/corporate-standard