HOUSTON – ConocoPhillips today issued the following statement regarding its response to a question included in the Carbon Disclosure Project's Climate Change 2015 Information Request, “Would your organization's board of directors support an international agreement between governments on climate change, which seeks to limit global temperature rise to under two degrees Celsius from pre-industrial levels in line with IPCC scenarios such as RCP2.6?”
“The answer that was provided by ConocoPhillips to CDP’s survey was intended to be a two-part response. CDP chose to include only one part of our response in its news release on the report. In hindsight, had we known CDP would only include one part of our answer, we would not have responded with an unqualified ‘yes.’
“ConocoPhillips has asked CDP to remove the ‘yes’ response to question CC2.4.
“We have been clear and consistent that our support of any climate change policy must align with our stated principles, which are accessible here. Our company leadership and board of directors have demonstrated a continued willingness to engage in thoughtful dialogue to address climate change.”
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ConocoPhillips is the world’s largest independent E&P company based on production and proved reserves. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 25 countries, $32 billion in annualized revenue, $112 billion of total assets, and approximately 18,100 employees as of June 30, 2015. Production, excluding Libya, averaged 1,603 MBOED for the six months ended June 30, 2015, and proved reserves were 8.9 billion BOE as of Dec. 31, 2014. For more information, go to www.conocophillips.com.
Daren Beaudo (media)
Sidney J. Bassett (investors)
Vladimir R. dela Cruz (investors)
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" and other similar words. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, there can be no assurance that such expectation or belief will result or be achieved. The actual results of operations can and will be affected by a variety of risks and other matters including, but not limited to, changes in commodity prices; changes in expected levels of oil and gas reserves or production; operating hazards, drilling risks, unsuccessful exploratory activities; difficulties in developing new products and manufacturing processes; unexpected cost increases; international monetary conditions; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; and general domestic and international economic and political conditions; as well as changes in tax, environmental and other laws applicable to our business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.