To be an industry leader, we must be good stewards as we pursue innovation and operational excellence in our exploration and production activities. In the process, we will continually seek to minimize and mitigate the impact of climate change.
Listening to our stakeholders
Devon assesses climate change as part of our companywide risk management process, and our Environmental, Social and Governance (ESG) Steering Committee monitors emerging, related public policy, legislation and regulations. We’re already seeing legislative and regulatory initiatives seeking to reduce greenhouse gas emissions, and we are preparing for more changes in the future. We continue to comply with applicable laws and regulations promoting energy efficiency and reducing emissions. We encourage conservation and the advancement of emission-reduction technologies.
Our stakeholders have made known their concerns about the impacts that climate change could have on our long-range business plans, and we’re listening. As a direct result of shareholder engagement, Devon plans to complete a climate change assessment by year-end 2018 on the impact of various scenarios informed by global climate change policies. This assessment will seek to quantify the risks that future regulatory restrictions and market forces might impose on our business.