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Imperial Oil’s Kearl oilsands deposit. Imperial Oil photo Canada’s Imperial Oil says it will update its carbon pollution disclosure “in the coming months,” after parent company Exxon Mobil pulled back the curtain for the first time on emissions from the use of its own products. Exxon bowed to investor pressure and released information this week showing the carbon pollution that is generated when its products are used, such as when the gasoline sold at company-affiliated gas stations is combusted inside people’s car engines. This measurement of pollution, known by its technical term “Scope 3," accounts for between 70 and 80 per cent of life cycle emissions for most oil companies, according to the Pembina Institute. Exxon’s Scope 3 emissions, the company admitted in its 2021 Energy and Carbon Summary , were equivalent to 730 megatonnes (Mt) of carbon dioxide in 2019. That puts Exxon, one of the largest oil and gas companies in the world, roughly on par with Canada’s entire emissions output of 729 Mt in 2018. Financial experts have suggested for years that firms move towards disclosing these emissions. Canada’s federally appointed expert panel on sustainable finance, for example, recommended in June 2019 that corporations should begin […]
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