Climate Change Strategy

Environmental team at work

​Key Findings

As a result of our strategy and scenario work we decided to take the following actions, as also 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 at San Juan Business Unit. Promote 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 which might impact the market for oil and gas.