Executive management

Our executive leadership team (ELT) is responsible for overseeing the management‑level processes, controls and governance used to manage sustainability‑related risks and opportunities across the business. In this role, the ELT integrates sustainability considerations into corporate strategy, long‑range planning and operational decision making. The ELT manages climate-related risks and opportunities and drives the business in implementing climate-related activities, including:

  • Reviewing and approving carbon pricing forecasts for inclusion in our long-range planning and project authorization reviews.
  • Supporting climate-related Variable Compensation Incentive Plan (VCIP) milestones.
  • Reviewing the greenhouse gas (GHG) emissions expected to result from our Long-Range Plan and an analysis of peer emissions.
  • Reviewing low carbon investment opportunities.

The Executive Vice President (EVP) and Chief Financial Officer (CFO), Strategy and Commercial, reports to the CEO and has overall accountability for corporate planning and development, including corporate strategy and long-range planning as well as ultimate responsibility for climate risk management and the implementation of our emissions reduction target framework.  In addition, the Sustainability and Public Policy Executive Council (SPEC), a subgroup of the ELT, has global oversight of existing and emerging sustainability and public policy risks and trends including governance, strategic planning, risk management and public reporting. The SPEC consists of the following executives:

  • Chief Financial Officer and EVP Strategy & Commercial
  • EVP, Lower 48 & Global HSE
  • EVP, Global Operations & Technical Functions
  • SVP, Legal and General Counsel
  • SVP, Government Affairs
  • SVP, Human Resources and Real Estate and Facilities Services

Members of SPEC were briefed regularly in 2025 on priority topics such as operational emissions reductions, biodiversity, water, human rights and stakeholder engagement. The council’s scope includes:

  • Reviewing and approving public policy and sustainability policies, positions, strategies, goals and actions on priority matters including those related to climate change.
  • Reviewing risk trends and addressing tactical implementation issues and decisions related to GHG target setting at the BU level to ensure alignment with corporate targets.
  • Prioritizing resource allocation to internal emissions reductions activities and external engagement and initiatives.
  • Recommending which issues warrant additional executive leadership, full ELT review or additional board engagement.
  • Reviewing and endorsing agenda and meeting content for the PPSC of the board.

The SPEC plays a critical role in linking the board of directors and the business on public policy and sustainability risks and trends that could affect our business activities and performance, including climate and nature-related risks. The scope of the SPEC is aligned with the scope of oversight of the PPSC, with the exception of health, safety and security.

Incentives and performance integration

Executive and employee compensation is linked to sustainability performance through our Variable Cash Incentive Program (VCIP), the company’s annual performance‑based cash bonus. VCIP payouts are determined using company, business unit and individual performance goals and performance categories including financial, operations, and health-safety-environment performance as well as strategic milestones.

In 2025, one of the strategic milestones was the goal of achieving annual emissions intensity levels aligned with the 2030 target trajectory range and advancing action plans for priority environmental and social risks including tracking progress against mitigation activities.

Another example of how sustainability factors into executive incentives is the role of the board’s Human Resources and Compensation Committee, which reviews feedback from regular stockholder engagement on sustainability priorities when evaluating executive compensation programs. This process supports the committee’s consideration of investor perspectives together with company performance and strategic objectives when considering executive compensation programs. Read more about how compensation is linked to sustainability performance in our Proxy Statement.

Our Policy