All U.S. publicly traded companies must adhere to a consistent set of regulations that allow investors to evaluate and compare investment choices. We fully comply with such rules and regulations, including for reporting oil and gas reserves. We have also increased our disclosure over the years to offer investors and stakeholders additional insights into the processes and procedures we use to manage climate-related risks, including carbon asset risk. .

We encourage informed discussion about topics of interest to stakeholders, including carbon asset risk. Updates were given to the Interfaith Center on Corporate Responsibility in New York in February 2016March 2018 and September 2018.

Key elements of our carbon asset risk management process include:

  • Considering a range of possible future carbon-constraint scenarios.
  • Developing strategic alternatives to manage shareholder value in a future with uncertain carbon constraints. 
  • Testing strategies and asset portfolios in various scenarios.
  • Developing actionable insights and incorporating actions into the corporate Long-Range Plan and Climate Change Action Plan.

We have integrated carbon-restricted scenarios into the strategic portfolio planning process to test our portfolio and have developed annual GHG price forecasts for company-wide use in long-range planning and the evaluation of projects.