In alignment with our mission to power civilization, and consistent with our positions on sustainable development and climate change, ConocoPhillips is evaluating and developing technologies for renewable energy. We are leveraging our expertise, intellectual property and physical assets in pursuit of economically viable, renewable energy business opportunities.
We continue to develop technology options with the potential to enable or complement renewable energy use.
Investments in technology development will be disciplined and commensurate with the likely returns, market size, timing of development and technology risk inherent in renewable energy projects. Our criteria for business investment include:
- Business Leveraged. Renewable energy opportunities that complement our existing processes will be prioritized.
- Competency and Asset Leveraged. We plan to focus our efforts on renewable technologies that directly leverage our experience in energy development and markets.
- Ongoing Awareness. We plan to continue to evaluate renewable energy technologies to proactively identify new opportunities and to understand the economic drivers, strengths and weaknesses of the alternative technologies available.
- Sustainable Solutions. We remain open to developing and using renewable energy as a component of our portfolio of energy offerings, as and when these technologies can be deployed in a sustainable manner for our stakeholders.
Our work will assist in the development of viable, sustainable and environmentally responsible energy for existing and future customers. See Technology Ventures to learn more.