Exxon Mobil considers cutting net carbon emissions to zero: report

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Aug 5 - Exxon Mobil Corp is considering a pledge to reduce its net carbon emissions to zero by 2050, the Wall Street Journal reported on Thursday citing people familiar with the matter.

The report comes more than two months after a contested board fight partly over the company's preparations for a low-carbon world.

The oil major had not made a final decision on the net-zero pledge, the report said. It added that Exxon was planning to unveil a series of strategic moves on environmental and other issues before the end of the year.

The company's shareholders had in May voted out three Exxon Directors for nominees of a hedge fund which promised to improve returns and better prepare the company for a low-carbon world.

Exxon Chief Executive Darren Woods announced last week that the company began working with new directors for in June in depth reviews of its business, including its approach to the energy transition. The first virtual meeting of the board took place last week after in-person sessions.