With $1.5M Plunge, ExxonMobil Becomes First Energy Company to Join Recycling Partnership

ExxonMobil is investing $1.5 million in The Recycling Partnership – the first energy company to do so, the company says.

ExxonMobile’s VP of sustainability Dave Andrew says the company’s “fundamental purpose is to help improve people’s lives and empower human progress. Expanding community access to efficient recycling systems is a priority for us.”

The energy company joins 34 other companies including Coca-Cola, Target, Amazon, Pepsi, Starbucks and P&G is helping The Recycling Partnership create a sustainable future through recycling.

The companies believe that collaboration, across and within industries, is a key to building sustainable communities, according to The Recycling Partnership. By working with global companies like ExxonMobil, “we will be able to have a much larger impact on the health of our planet and people’s everyday lives, now and in the future,” says Recycling Partnership CEO Keefe Harrison.

In four years, The Recycling Partnership has reached 33 million households in 640 communities with efforts to improve recycling access and increase the quality of recyclables. Since 2014, the nonprofit has leveraged $29 million in infrastructure diverting a total of 115 million pounds of recyclables from landfills, avoiding 164,000 metric tons of greenhouse gas and saving 2.0 trillion BTUs.

The Recycling Partnership’s goal is to help the country double its current recycling rate and capture 22 million more tons of recyclables per year, avoid 50 million metric tons of greenhouse gas annually, and save $250 million in contamination costs every year.

Energy Company’s Energy Initiatives

ExxonMobil says it is committed to the SDGs set forth by the United Nations. The company’s efforts include investments in efforts to mitigate emissions in its operations. ExxonMobil says it has invested about $8 billion since 2000 on developing lower-emission energy solutions.

The company is also working on new clean-energy technologies such as carbon capture and storage (CCS), including research in a technology that uses fuel cells that could “make CCS more affordable and expand its use,” says Suzanne McCarron, ExxonMobil VP of public and government affairs. Other efforts include developing technologies like next-generation biofuels to reduce greenhouse gas emissions. Additionally, with cogeneration, the company enables 6 million metric tons of greenhouse gases to be avoided each year, McCarron says.

 

Climate Change Risk Reporting

Last December, ExxonMobil announced that it had given into shareholder requests to divulge new details about the impact of climate change to its business.

The oil and gas producer will now provide shareholders with information on “energy demand sensitivities, implications of two degree Celsius scenarios, and positioning for a lower-carbon future.”

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