The objective of our climate change strategy is to manage risk, optimize opportunities and equip the company to respond to changes in key uncertainties, including government policies around the world, technologies for emission reduction and alternative energy technologies.

Some stakeholders are concerned that future restrictions on fossil fuels to limit GHG concentrations in the atmosphere could mean that some reserves may not be developed and that their contribution to company valuations may create a “carbon bubble.” This concept is being called “carbon asset risk” or “unburnable carbon.”