Corporate Sustainability in the Energy Sector : Exxonmobil’s SDG Alignment from 2017 to 2022

Antal, Katinka (2026) Corporate Sustainability in the Energy Sector : Exxonmobil’s SDG Alignment from 2017 to 2022. In: ESG - RISK MANAGEMENT OR NEW SUSTAINABILITY? Budapesti Gazdaságtudományi Egyetem (BGE), Budapest, pp. 5-11. ISBN 978-615-6886-27-9

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Abstract

Over the past decade, sustainability has transitioned from a marginal concept to a core strategic objective for companies, particularly in sectors with significant environmental impact. This paper examines the changing role of sustainability in the oil and gas sector focusing on ExxonMobil as a case study. By examining the publicly released ExxonMobil 2017, 2019, and 2022 sustainability reports, this study examines how the company ExxonMobil has integrated sustainability into its company story and strategic communication. Particular focus is placed on the frequency and development of the United Nations Sustainable Development Goals mentioned throughout the reports. The analysis records fluctuations in trends in the number of Sustainable Development Goals reported over time, in changes in thematic focus areas, and in a rising approach towards reporting Environmental, Social, Governance-oriented activities. Monitoring these changes over a five-year period the article provides insights into the management of sustainability transitions by a large energy source and into the extent to which these mirror global development models. ExxonMobil’s decision to focus on three Sustainable Development Goals instead of eight indicates a move from the broad “Sustainable Development Goals – washing” risk towards a more focused, materiality-oriented approach to sustainability. The company’s dedication to directing resources, governance efforts and performance indicators to the global objectives is reflected in more focused targeting.

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