Our objective is to manage climate-related risk, optimize opportunities and equip the company to respond to evolving investor sentiment around the world, technologies for emissions reduction and alternative energy technologies and uncertainties such as government policies.

The continually evolving energy transition 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 — from a long-term ambition that sets the direction and aim of the strategy, to medium-term performance targets for GHG emissions and methane intensity, to near-term targets for flaring and methane intensity reductions.
• Technology choices: We continue to expand our emissions reduction programs at existing operations, while also evaluating opportunities and technologies that can closely integrate with our global operations, markets and competencies.
• Portfolio choices: We are integrating climate-related risk into our portfolio decision making through consideration of carbon pricing and stranded assets, as well as low cost-of-supply and low GHG intensity resources.
• External engagement: Our stakeholders’ points of view inform the evolution of our climate-related frameworks, metrics, actions and public policy.