ExxonMobil Shareholder Proposal
Improved Energy Efficiency -
A 'No Regrets' Response to the Risk of Global Warming

Whereas:

• ExxonMobil stated in 2002 that "steps should be taken to reduce greenhouse emissions if they are economically attractive in their own right" while scientific research on global warming continues;
• The United States Government, the European Union, and virtually all of the worldwide scientific community have accepted the growing evidence that global warming is caused in part by fossil fuel use;
• Claros Consulting of London, England has concluded: "ExxonMobil's attitude toward climate change is fraught with unnecessary risk and missed opportunities that could put at risk more than $100 Billion in long-term shareholder value in the company";
• Industrial energy efficiency improvements are proven to be low-risk, high-return investments, including measures at BP which will save $650 Million over the next 10 years by using less energy input in production and reducing gas flaring and venting;
• Improving energy efficiency beyond the present levels has important benefits of reducing operating costs, improving financial return to shareholders, and reducing future risks to Exxon Mobil;
• ExxonMobil employs 20,000 scientists and engineers, including 1,500 Ph.D.s, providing an extensive body of expertise and innovation on which to draw;
• Private enterprise is at its best when it is allowed to creatively approach difficult problems and apply innovative solutions; and
• Significantly increasing energy efficiency at ExxonMobil facilities is a "no-regrets" approach to global warming;
• If further studies convince ExxonMobil that global warming is caused by fossil fuel use, then ExxonMobil will have significantly lowered energy usage (and associated greenhouse gas emissions) and lowered operating costs. ExxonMobil will be better able to compete in the global marketplace. No Regrets.
• If further studies show that global warming is not caused by fossil fuel use, then ExxonMobil facilities will be more energy efficient and have significantly lower operating costs. ExxonMobil will be better able to compete in the global marketplace. No Regrets.

Resolved:
Shareholders request the Board to prepare a series of strategic and implementation plans by September 1, 2003 outlining how ExxonMobil will implement significant energy efficiency improvements at all ExxonMobil facilities. Investments to be pursued would include all energy efficiency projects which have paybacks of less than:

• 5-year straight payback (without including overhead, cost of capital or discounting) or

• 10-year payback using Exxon's existing method for analyzing capital investments