Exxon ensures economic sustainability by engaging in local economic growth and development projects. For example, it engages in local content development by integrating project planning and execution to fit specific localities. Also, it provides local training and hiring opportunities to help the people develop leadership and technical skills that can benefit them and their careers at Exxon or other employers.
- Exxon ensures environmental sustainability by working in various projects in the sensitive and remote environments among them deepwater, biodiverse, and deepwater locations. For instance, the firm ensures effective water management, uses technology to regulate its air emissions, prevents and eliminates spills from its business operations, and practices decommissioning and rehabilitation. Additionally, Exxon engages in risk management activities to take the necessary measures in preventing seismicity.
- Exxon engages in various socio-political sustainability activities. For example, it ensures corporate integrity ethics and transparency. On the same note, it follows the rules of its host countries and engages in human rights initiatives.
- Exxon’s social and environmental concerns are balanced with its economic interests because it aims at ensuring sustainability at the lowest cost. For instance, the firm engages in social and environmental initiatives that reduce its probability of spending a lot of money on sustainability practices.
- Exxon CSR identifies that
- To improve its feasibility, Exxon should invest in a low carbon future to ensure that it reduces its carbon emission while supplying more energy. Secondly, it could engage in research to come up with technological solutions to enhance the viability of carbon emission capture and storage. Additionally, Exxon has to focus more on energy efficiency practices by using advanced technologies to improve its refining and manufacturing processes.
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