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, and to better understand the potential long-term impacts of a possible carbon-constrained future, Devon retained an outside consulting firm to help assess the company’s oil and natural gas portfolio in relation to these potential impacts. Details of the analytical approach and results of the assessment are available in Devon’s Climate Change Assessment Report.