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.