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As a result of our strategy and scenario work, we decided to take the following actions, as reflected in our Climate Change Action Plan:

  • Prepare for diverse portfolio and policy environments.
  • Monitor global regulation and legislation developments and engage appropriately.
  • Identify and fund profitable emissions reduction projects, such as methane emission reductions. Continue the use of a Marginal Abatement Cost Curve (MACC) in Long Range Planning.
  • Focus near-term technology investments on reducing both costs and emissions where feasible, for example in the Oil Sands by improving the steam-to-oil ratio in extraction.
  • Monitor for potential disruptive technologies that might impact the market for oil and gas.