About Our Reporting

To provide stakeholders with timely information, we use digital updates to provide performance examples and updates as they occur. These updates and our performance metrics are integrated into the foundational information on our website and consolidated into our sustainability hub. Performance metrics are updated annually. 

We also recognize that many stakeholders like to track year-by-year reporting. Consolidated performance information and metrics can be found in the annual reports available in our company website’s Reports and Resources section. Stakeholders can also create customized reports, based on topics of interest, using our report builder

Issue Identification and Prioritization 

We are continuously evolving and refreshing our perspective on sustainability reporting by considering the most pressing issues affecting our external and internal stakeholders, the global community and our industry.

External stakeholders include mainstream investors, ESG-focused investors, banks, rating agencies and ESG-focused nonprofit organizations, as well as community members, leaders, policy makers and regulators in the areas where we operate. Through meetings, correspondence and a review of publicly available materials, we gather opinions and input from key external stakeholders to further identify issues and potential impacts. Based upon this collaborative approach, we regularly review a list of potentially important issues across a range of topics from governance to safety to impacts on the environment and society.

Additionally, through our annual risk assessment process, each business unit identifies potential sustainability risks while considering the physical, social and political settings of our operations. Local concerns may influence the potential importance of these environmental and social matters, including cumulative effects. Each risk is assessed using a matrix that evaluates both its likelihood and consequence. In evaluating the consequence level, we consider potential impacts to stakeholders and the company. Annual discussions with key internal functions, including subject matter experts from issue working groups (IWGs), provide further input and prioritization of the topic list. 

This prioritization process is supplemented with analysis of the topics being considered by rating agencies and other survey questions, as well as recommended reporting for the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD) and the World Economic Forum: Measuring Stakeholder Capitalism. We also review the priority issues as publicly reported by industry peers to ensure alignment with identified industry issues. 

In 2022, we conducted a priority issues assessment to help identify and prioritize the reporting topics about our business as it relates to ESG. Participants included subject matter experts from nearly 20 of our key functions within the company who provided further insight and prioritized topics based on level of interest or concern to key stakeholders and strategic importance to the company. This process helped determine the significance of 20 sustainability topics. The ESG issues covered in this report reflect discussions with subject matter experts from across our company, findings from primary and secondary research, the feedback we received, and insights we gained through our ongoing engagement with stakeholders. 

2022 Priority Issue Definition
Governance and Economic Dimension*
Carbon Asset Risk Identifying the financial risk of stranded reserves and infrastructure.
Low Carbon Technologies Capability to assess and advance low carbon business opportunities that are consistent with shareholder interests.
Business Ethics Adhering to applicable laws and the highest ethical standards.
Transparency and Corruption Promoting transparency to reduce corruption, improve government accountability and foster economic stability.
SD Governance Process Having a comprehensive governance framework, including oversight from the Board of Directors, in place to manage SD risks and opportunities.
Environment
Carbon Policy Considering legislation and regulation related to climate change and a transition to a lower carbon economy.
Energy Efficiency Reducing the amount of energy required to find and produce natural gas and oil.
Greenhouse Gas (GHG) Emissions Reducing GHGs emitted during natural gas and oil production and developing a directional roadmap to meet net-zero ambition for operational emissions.
Methane Reducing methane emitted during natural gas and oil production.
Biodiversity Mitigating impacts from activities and operations on threatened or at-risk species or habitats.
Produced Water Managing discharge, disposal and/or recycling of produced water for offshore and onshore operations including potential impacts to receiving environments and seismicity.
Water Sourcing Securing sustainable and economic water sources for exploration, drilling, completions or production.
Supply Chain Assessing risks related to environment, including GHGs, biodiversity and water.
Social
Stakeholder Engagement Respectfully engaging with local stakeholders and Indigenous Peoples to understand their interests, concerns and culture, seeking solutions that create mutually beneficial relationships and integrating those into planning and decision-making.
Community Investment Investing in communities to support giving categories including education, natural resources, health and safety, arts, civic and social services, and disaster relief.
Human Rights Implementing human rights policies and practices that promote respect for civil, cultural, economic, political and social rights, consistent with the Universal Declaration of Human Rights (UDHR) and United Nations Declaration on the Rights of Indigenous Peoples.
Local Content Creating economic stimulus in the communities where we operate through job creation and socioeconomic development initiatives.
Safety and Health Creating and maintaining a safe and healthy workplace that is free of injuries, fatalities and illness.
Supporting our People Attracting and retaining talent, offering training and development for workers to build capability and career opportunities while promoting diversity, equity and inclusion.
Supply Chain Assessing risks related to due diligence and respect for human rights.

*Other aspects of governance are fully addressed in our Annual Report and Proxy Statement.

In this year’s report, we focused our disclosure on topics most important to stakeholders, including climate, nature, community engagement and human capital management. 

Reporting Frameworks and Scope 

We report our sustainability performance using internationally recognized reporting standards and frameworks. This includes reporting guidelines, indicators and terminology developed by TCFDSASBIPIECA, Global Reporting Initiative (GRI) Standards 2021API Template 2.0 for GHG Reporting, and the AXPC ESG Metrics Framework and Template. We also consider frameworks that are still evolving such as the Taskforce on Nature-related Financial Disclosures (TNFD). We provide regular information to CDP for climate change, Dow Jones Sustainability Index (DJSI) and other organizations that assess the ESG performance of companies. We engage with MSCI, Sustainalytics and ISS E&S QualityScore, all of which rate us based on publicly available information. We have mapped relevant TCFD, SASB, Ipieca, GRI and UN Global Compact Principles disclosures for stakeholder convenience, and we continue to assess alignment with other emerging frameworks. 

The 2022 Sustainability Report covers data from January 1 to December 31, 2022. Notes to our metrics outline the scope and methodologies of our data reporting. The minimum boundary for reporting on social and environmental priorities is the assets we operate.

Read about our Data Quality and Assurance.