Rising to the sustainability challenge

Letter to our stakeholders
The global economic downturn since mid-2008 has affected energy demand and energy prices, but it has not extinguished the aspirations of today’s rapidly developing nations or the needs of the over 2 billion people who lack access to modern energy supplies. Because of these energy needs, global demand is projected to be almost 35 percent greater in 2030 than in 2005. The implications for energy policymakers, the energy industry, and consumers will be significant.

As policymakers, energy companies, and other stakeholders debate the components of a sustainable energy future, oil and natural gas remain at the intersection of many highly complex issues—from energy security and climate change to human rights and corporate governance. Understandably, people have questions. For example, as the search for tomorrow’s energy reserves takes us to increasingly geologically challenging locations, can we develop the vast potential of unconventional resources or operate in areas like the arctic without compromising safety or the environment? What are the legitimate roles and boundaries between government, the private sector, and civil society, particularly in developing countries? And as efforts continue to address the risks of climate change, how do we ensure that policy proposals focus on finding lasting, sustainable solutions and not short-term expedience or political acceptability?

Meeting the challenge of sustainability requires that we effectively address and engage on all these issues while delivering on our primary responsibility to society—finding and providing the reliable supplies of energy needed for progress and development.

There is a wide diversity of views on the role of a company such as ExxonMobil in today’s society. We know that we will never satisfy everyone. But we can and do set clear expectations for ourselves that underpin our approach to corporate citizenship and the challenge of sustainability. For example:

• We will continue to advocate for an integrated set of solutions to today’s major energy challenges—emphasizing the power of technology to increase energy efficiency, help address climate change risks, and develop all economical energy sources to meet the needs of today and future generations;
• We will remain committed to transparent and ethical practices to respect human rights and to being a positive force fo economic development in the communities where we operate;
• We will continue to expand the bounds of innovation in ways that allow society to meet the challenge of rising energy demand while mitigating the impact of rising greenhouse gas emissions;
• We will work to engage with those who take an interest in our business and participate in constructive, progress-oriented partnerships that address global challenges and help societies gain sustainable benefits from our presence; and of course,
• We will remain committed to safe operations and environmental protection in every aspect of what we do, every day. At the time of writing, ExxonMobil is providing assistance to BP and the authorities in responding to the tragic incident in the Gulf of Mexico involving the Deepwater Horizon drilling rig. The events in the gulf are a reminder to our entire industry of the need to be ever vigilant in protecting people, local communities, and the environment.

We hope you find our 2009 Corporate Citizenship Report useful in understanding how ExxonMobil is taking action in these areas. We welcome any comments you may have.

Rex W. Tillerson
Chairman and CEO