ExxonMobil (NYSE: XOM), one of the world’s largest oil and gas producers, is once again in the public eye. Last week brought big news for the oil major. There was a new gas find offshore in the Mediterranean. Moreover, a key legal ruling was issued regarding old refinery pollution in Texas. Adding to the headlines, the U.S. Environmental Protection Agency (EPA) has also proposed key carbon storage permits for the company’s growing low-carbon ventures.
These events show how ExxonMobil balances new energy projects with scrutiny over its environmental record. The gas company is feeling pressure from climate change demands. Its actions reveal both the opportunities and the challenges it faces in the evolving energy landscape.
Cyprus Gas Discovery Strengthens Global Portfolio
The first big development came from the Eastern Mediterranean. On July 7, ExxonMobil and QatarEnergy announced they had found a large natural gas reservoir off the coast of Cyprus. The find, located at the Pegasus-1 well in Block 10, revealed more than 350 meters of gas-bearing rock at a depth of about 1.9 kilometers.
This is the second major find for ExxonMobil in Cypriot waters, following the Glaucus-1 discovery in 2019. These discoveries are big wins for Europe. The region wants to find new natural gas sources and lessen its reliance on Russian energy.
The Eastern Mediterranean is becoming a key energy hub. Pegasus-1 adds important reserves to ExxonMobil’s global gas portfolio. It could help boost liquefied natural gas (LNG) exports. This would supply cleaner fuels in areas trying to move away from coal.
Pollution Comes at a Price: Baytown Fine Stands After Supreme Court Snub
The same day ExxonMobil celebrated its discovery off Cyprus, it also faced a legal setback at home. The U.S. Supreme Court chose not to review a lower court’s decision. That ruling upheld a $14.25 million civil penalty for long-term air pollution violations at the Baytown refinery complex in Texas.
Environment Texas and the Sierra Club filed a case against the company. They claimed it broke the Clean Air Act by releasing harmful pollutants like nitrogen oxides and sulfur dioxide for years. These emissions can contribute to respiratory issues, smog, and other environmental harm.
This decision ends a decade-long legal battle and marks one of the largest citizen-led environmental fines under the said law. It also highlights growing public and legal accountability for emissions from major energy facilities.
EPA Backs Exxon’s Texas Carbon Storage Ambitions
Amid legal challenges, ExxonMobil continues to invest in low-carbon technology. The Environmental Protection Agency (EPA) has proposed three Class VI carbon storage permits for ExxonMobil’s Low Carbon Solutions Onshore Storage LLC. This move could shape the company’s future in climate solutions in Jefferson County, Texas.

These permits back ExxonMobil’s “Rose” project seen in the map above. It’s a carbon capture and storage (CCS) site. The project aims to inject up to 5 million metric tons of CO₂ each year into deep underground rock formations.
The EPA’s proposal opens a 30-day public comment period, with a virtual hearing scheduled for July 31, 2025. EPA officials say early reviews show the project won’t risk underground drinking water. If approved, this would allow ExxonMobil to store CO₂ emissions from clean hydrogen and ammonia plants.
This CCS effort is part of a larger federal shift to expand carbon storage across the country. The EPA is also working to give permitting power to the Texas Railroad Commission. This puts Texas alongside states like Louisiana, North Dakota, and Wyoming. These states aim to speed up approvals for carbon storage projects.

CCS is vital for hard-to-decarbonize sectors like steel and cement. According to a DNV report, global CCS investment could reach $80 billion by 2030, enabling the capture of 270 million tons of CO₂ per year—a major tool in the climate transition.
By investing in CCS, ExxonMobil aims to position itself as a leader in technologies that can reduce industrial emissions—key to meeting its long-term climate targets.
ExxonMobil’s Climate Strategy: Progress and Pressure
These three developments—exploration success, legal accountability, and carbon storage expansion—reflect ExxonMobil’s evolving role in the energy transition.
The oil major is advancing its climate strategy. The goal is to reach net-zero greenhouse gas emissions from its operated assets (Scope 1 and 2) by 2050. The company has laid out interim goals to cut upstream emissions intensity by 40–50%, methane by 70–80%, and flaring by 60–70% by 2030, based on 2016 levels.

In the Permian Basin, ExxonMobil targets net-zero emissions from its unconventional operations by 2030. The company has installed more than 6,000 low-emission pneumatic devices. It has also eliminated routine flaring, added electric compressors, and started using wind-sourced electricity.
ExxonMobil’s Low Carbon Solutions division will invest more than $20 billion by 2027. This funding will support technologies such as carbon capture, clean hydrogen, and biofuels. This includes the $5 billion acquisition of Denbury Inc., adding to its CO₂ pipeline and storage network.
ExxonMobil has captured over 120 million metric tons of CO₂. Right now, it captures about 9 million tons each year. This makes the company a leader in industrial carbon capture worldwide. Projects like the Baytown low-carbon hydrogen facility aim to capture 7 million metric tons of CO₂ annually.
The company also plans to produce 1 billion cubic feet per day of hydrogen and 1 million metric tons of ammonia using CO₂ capture technologies. Globally, ExxonMobil is involved in CCS and hydrogen projects in Europe, the U.S., and the Middle East.
In summary, here’s the company’s climate targets:
- Cut Scope 1 and 2 emissions intensity from its oil and gas production by 40% to 50% by 2030 (vs. 2016 levels).
- Achieve net-zero emissions from its operated assets (Scope 1 and 2) by 2050.
- Invest $20 billion through 2027 in low-carbon projects globally.
Despite progress on Scope 1 and 2 goals, ExxonMobil has not set targets for Scope 3 emissions, which account for customer use of its products. This remains a point of pressure from environmental groups and ESG investors.

ExxonMobil focuses on exploration and production. But it is also creating a new strategy to tackle emissions. This shift helps meet rules and investor expectations.
Can ExxonMobil Stay on Track Toward Net Zero?
ExxonMobil had a week of mixed headlines. This shows the clash between old fossil fuel practices and the needs of a climate-aware future. The company is working to expand its carbon capture efforts and find new gas sources.
This reveals its plans for two things: keeping energy supplies strong now and creating lower-carbon resources for the future.
With this, ExxonMobil’s future will likely hinge on three key factors: growth, environmental responsibility, and investor pressure. As regulations tighten and clean energy competition rises, finding the right balance will be crucial.
- INTERESTING READ: Big Oil’s Showdown: How Shell, Chevron & ExxonMobil Balance Big Profits with Net Zero?
The post ExxonMobil’s (XOM Stock) Wild Ride: Gas Discovery, $14M Pollution Fine, and Carbon Storage Push appeared first on Carbon Credits.
Carbon Footprint
Climate Impact Partners Unveils High-Quality Carbon Credits from Sabah Rainforest in Malaysia
The voluntary carbon market is changing. Buyers are no longer focused only on large volumes of cheap credits. Instead, they want projects with strong science, long-term monitoring, and clear proof that carbon has truly been removed from the atmosphere. That shift is drawing more attention to high-integrity, nature-based projects.
One project now gaining that spotlight is the Sabah INFAPRO rainforest rehabilitation project in Malaysia. Climate Impact Partners announced that the project is now issuing verified carbon removal credits, opening access to one of the highest-quality nature-based removals currently available in the global market.
Restoring One of the World’s Richest Rainforest Ecosystems
The project is located in Sabah, Malaysia, on the island of Borneo. This region is home to tropical dipterocarp rainforest, one of the richest forest ecosystems on Earth. These forests store huge amounts of carbon and support extraordinary biodiversity. Some dipterocarp trees can grow up to 70 meters tall, creating habitat for orangutans, pygmy elephants, gibbons, sun bears, and the critically endangered Sumatran rhino.
However, the forest within the INFAPRO project area was not intact. In the 1980s, selective logging removed many of the most valuable tree species, especially large dipterocarps. That caused serious ecological damage. Once the key mother trees were gone, natural regeneration became much harder. Young seedlings also had to compete with dense vines and shrubs, which slowed the forest’s recovery.
To repair that damage, the INFAPRO project was launched in the Ulu-Segama forestry management unit in eastern Sabah.
- The project has restored more than 25,000 hectares of logged-over rainforest.
- It was developed by Face the Future in cooperation with Yayasan Sabah, while Climate Impact Partners has supported the project and helped bring its credits to market.
Why Sabah’s Carbon Removals are Attracting Attention
What makes Sabah INFAPRO different is not only the size of the restoration effort. It is also the way the project measured carbon gains.

Many forest carbon projects issue credits in annual vintages based on year-by-year growth estimates. Sabah INFAPRO followed a different path. It used a landscape-scale monitoring system and waited until the forest moved through its strongest natural growth period before issuing removal credits.
- This approach gives the credits more weight. Rather than relying mainly on short-term annual estimates, the project measured carbon sequestration over a longer period. That helps show that the forest delivered real, sustained, and measurable carbon removal.
The scientific backing is also unusually strong. Since 2007, the project has maintained nearly 400 permanent monitoring plots. These plots have allowed researchers, independent auditors, and technical specialists to observe the full growth cycle of dipterocarp forest recovery. The result is a large body of field data that supports carbon calculations and strengthens confidence in the credits.
In simple terms, buyers are not just being asked to trust a model. They are being shown years of direct forest monitoring across the project landscape.
Strong Ratings Support Market Confidence
Independent assessment has also lifted the project’s profile. BeZero awarded Sabah INFAPRO an A.pre overall rating and an AA score for permanence. That places the project among the highest-rated Improved Forest Management, or IFM, projects in the world.
The rating reflects several important strengths. First, the project has very low exposure to reversal risk. Second, it has a long and stable operating history. Third, its measured carbon gains align well with peer-reviewed ecological research and independent analysis.
These points matter in today’s market. Buyers have become more cautious after years of debate over the quality of some forest carbon credits. As a result, they now look more closely at durability, transparency, and third-party validation. Sabah INFAPRO’s rating helps answer those concerns and makes the project more attractive to companies looking for credible carbon removal.
The project is also registered with Verra’s Verified Carbon Standard under the name INFAPRO Rehabilitation of Logged-over Dipterocarp Forest in Sabah, Malaysia. That adds another level of market recognition and verification.
A Wider Model for Rainforest Recovery
Sabah INFAPRO also shows why high-quality nature-based projects are about more than carbon alone. The restoration effort supports broader ecological recovery in one of the world’s most important rainforest regions.
Climate Impact Partners said it has worked with project partners to restore degraded areas, run local training programs, carry out monthly forest patrols, and distribute seedlings to support rainforest recovery beyond the project boundary. These efforts help strengthen the wider landscape and expand the project’s environmental impact.
That broader value is becoming more important for buyers. Companies increasingly want projects that support biodiversity, ecosystem health, and local engagement, along with carbon removal. Sabah INFAPRO offers that mix, making it a stronger fit for the market’s shift toward higher-integrity credits.

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Carbon Footprint
Bitcoin Falls as Energy Prices Rise: Why Crypto Is Now an Energy Market Story
Bitcoin’s recent drop below $70,000 reflects more than short-term market pressure. It signals a deeper shift. The world’s largest cryptocurrency is becoming increasingly tied to global energy markets.
For years, Bitcoin has moved mainly on investor sentiment, adoption trends, and regulation. Today, another force is shaping its direction: the cost of energy.
As oil prices rise and electricity markets tighten, Bitcoin is starting to behave less like a tech asset and more like an energy-dependent system. This shift is changing how investors, analysts, and policymakers understand crypto.
A Global Power Consumer: Inside Bitcoin’s Energy Use
Bitcoin depends on mining, a process that uses powerful computers to verify transactions. These machines run continuously and consume large amounts of electricity.
Data from the U.S. Energy Information Administration shows Bitcoin mining used between 67 and 240 terawatt-hours (TWh) of electricity in 2023, with a midpoint estimate of about 120 TWh.

Other estimates place consumption closer to 170 TWh per year in 2025. This accounts for roughly 0.5% of global electricity demand. Recently, as of February 2026, estimates see Bitcoin’s energy use reaching over 200 TWh per year.
That level of energy use is significant. Global electricity demand reached about 27,400 TWh in 2023. Bitcoin’s share may seem small, but it is comparable to the power use of mid-sized countries.
The network also requires steady power. Estimates suggest it draws around 10 gigawatts continuously, similar to several large power plants operating at full capacity. This constant demand makes energy costs central to Bitcoin’s economics.
When Oil Rises, Bitcoin Falls
Bitcoin mining is highly sensitive to electricity prices. Energy is the highest operating cost for miners. When power becomes more expensive, profit margins shrink.
Recent market movements show this link clearly. As oil prices rise and inflation concerns persist, energy costs have increased. At the same time, Bitcoin prices have weakened, falling below the $70,000 level.

This is not a coincidence. Studies show a direct relationship between Bitcoin prices, mining activity, and electricity use. When Bitcoin prices rise, more miners join the network, increasing energy demand. When energy costs rise, less efficient miners may shut down, reducing activity and adding selling pressure.
This creates a feedback loop between crypto and energy markets. Bitcoin is no longer driven only by demand and speculation. It is now influenced by the same forces that affect oil, gas, and power prices.
Cleaner Energy Use Is Growing, but Fossil Fuels Still Matter
Bitcoin’s environmental impact depends on its energy mix. This mix is improving, but it remains uneven.
A 2025 study from the Cambridge Centre for Alternative Finance found that 52.4% of Bitcoin mining now uses sustainable energy. This includes both renewable sources (42.6%) and nuclear power (9.8%). The share has risen significantly from about 37.6% in 2022.
Despite this progress, fossil fuels still account for a large portion of mining energy. Natural gas alone makes up about 38.2%, while coal continues to contribute a smaller share.

This reliance on fossil fuels keeps emissions high. Current estimates suggest Bitcoin produces more than 114 million tons of carbon dioxide each year. That puts it in line with emissions from some industrial sectors.
The shift toward cleaner energy is real, but it is not complete. The pace of change will play a key role in how Bitcoin fits into global climate goals.
Bitcoin’s Climate Debate Intensifies
Bitcoin’s growing energy demand has placed it at the center of ESG discussions. Its impact is often measured through three key areas:
- Total electricity use, which rivals that of entire countries.
- Carbon emissions are estimated at over 100 million tons of CO₂ annually.
- Energy intensity, with a single transaction using large amounts of power.

At the same time, the industry is evolving. Mining companies are adopting more efficient hardware and exploring new energy sources. Some operations use excess renewable power or capture waste energy, such as flare gas from oil fields.
These efforts show progress, but they do not fully address the concerns. The gap between Bitcoin’s energy use and its environmental impact remains a key issue for investors and regulators.
- MUST READ: Bitcoin Price Hits All-Time High Above $126K: ETFs, Market Drivers, and the Future of Digital Gold
Bitcoin Is Becoming Part of the Energy System
Bitcoin mining is now closely integrated with the broader energy system. Operators often choose locations based on access to cheap or excess electricity. This includes areas with strong renewable generation or underused energy resources.
This integration creates both opportunities and challenges. On one hand, mining can support energy systems by using power that might otherwise go to waste. It can also provide flexible demand that helps stabilize grids.
On the other hand, it can increase pressure on local electricity supplies and extend the use of fossil fuels if cleaner options are not available.
In the United States, Bitcoin mining could account for up to 2.3% of total electricity demand in certain scenarios. This highlights how quickly the sector is scaling and how closely it is tied to national energy systems.
Energy Markets Are Now Key to Bitcoin’s Future
Looking ahead, the connection between Bitcoin and energy is expected to grow stronger. The network’s computing power, or hash rate, continues to reach new highs, which typically leads to higher energy use.
Electricity will remain the main cost for miners. This means Bitcoin will continue to respond to changes in energy prices and supply conditions. At the same time, governments are starting to pay closer attention to crypto’s environmental impact, which could shape future regulations.

Some forecasts suggest Bitcoin’s energy use could rise sharply if adoption increases, potentially reaching up to 400 TWh in extreme scenarios. However, cleaner energy systems could reduce the carbon impact over time.
Bitcoin is no longer just a financial asset. It is also a large-scale energy consumer and a growing part of the global power system.
As a result, understanding Bitcoin now requires a broader view. Energy prices, electricity markets, and carbon trends are becoming just as important as market demand and investor sentiment.
The message is clear. As energy markets move, Bitcoin is likely to move with them.
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Carbon Footprint
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The post LEGO’s Virginia Factory Goes Big on Solar as Net-Zero Push Speeds Up appeared first on Carbon Credits.
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