Strategy
Our objective is to manage climate-related risk, optimize opportunities and better equip the company to respond to: evolving investor sentiment, technologies for emissions reduction, alternative energy technologies and uncertainties such as government policies.
The continually evolving energy landscape requires a strategy that will remain robust across a range of potential future outcomes. Our strategy is comprised of four pillars:
- Targets: Our framework consists of a hierarchy of targets — a long-term ambition that sets the direction and aim of the strategy, medium-term performance targets for operational GHG emissions and methane intensity, and near-term targets for flaring and methane intensity reductions that guide implementation of our strategy.
- Technology choices: We continue to enhance our emissions reduction programs in our current operations, while also evaluating new opportunities and technologies that can closely integrate with our global operations, markets and competencies.
- Portfolio choices: We have integrated climate-related risk into our portfolio decision making through consideration of carbon pricing and focusing on low cost-of-supply, low GHG intensity resources.
- External engagement: Our stakeholders’ points of view inform the evolution of our climate-related frameworks, actions and public policy.