taking action to reduce greenhouse gas emissions

January 25, 2007

Steps with the potential to make a difference

Over the coming weeks, we will use this space to share our thoughts on actions and policy considerations to address the risks of climate change.

This week, we highlight some of the steps we're already taking to address the challenge of reducing greenhouse gas emissions in effective and meaningful ways, while ensuring that there is enough energy to meet the requirements of growing economies.

Climate change is a global issue and greenhouse gas emissions are rising most rapidly in the developing world. Meaningful approaches must be affordable to consumers, be applicable in the developed and developing world, and allow continued economic growth and improvements in living standards. Technological advances will be critical.

With these goals in mind, our scientists and engineers are working to reduce emissions today, while supporting the development of new technologies that could significantly reduce emissions for the longterm. Examples include:

Working with auto and engine makers on programs that could improve fuel economy by as much as 30 percent, while significantly reducing emissions

• Improving energy efficiency at our facilities. Steps taken since 1999 resulted in CO2 emissions savings of 11 million metric tons in 2005, equivalent to taking two million cars off the road
• Partnering with the European Commission and other companies in a groundbreaking initiative to assess the viability of geological carbon storage
• Initiating the Global Climate and Energy Project at Stanford University — the largest-ever independent research effort to identify technologies that can meet energy demand with dramatically lower greenhouse gas emissions. Study areas include solar, hydrogen, biofuels and advanced transportation
• Exploring new ways to produce hydrogen, for potential longer-term applications ranging from on-board vehicles to retail stations and large production facilities
• Partnering with the U.S. Environmental Protection Agency and Department of Energy in the “Smartway” partnership to improve fuel economy and reduce emissions associated with the transportation of our products

These steps have the potential to make a significant difference. But addressing climate change is a shared global challenge. Policymakers, industry and consumers all have a role to play. Taking sensible action today is important if we are to successfully address the risk of climate change.