positive and lasting contributions in the areas of governance, transparency, respect for the rule of law and social and economic development. Hess has endorsed and participates in international voluntary initiatives designed to protect the environment, promote human rights and encourage financial transparency, including the United Nations Global Compact (UNGC), the Voluntary Principles on Security and Human Rights (VPs) and the Extractive Industries Transparency Initiative (EITI). We endorse and respect the Universal Declaration of Human Rights (UDHR) and the International Labour Organization (ILO) Declaration on Fundamental Principles and Rights at Work. We provide training to employees, as appropriate, to enhance our compliance with these frameworks.”171 Husky Energy Inc. Statements on Climate Change “The Company’s operations were significantly influenced by domestic and international factors in 2018, including, but not limited to, the following: . . . A continued emphasis on the environment, the impacts of climate change, health and safety, enterprise risk management, resource sustainability and corporate social responsibility concerns.”172 “The Company may be subject to litigation, claims, administrative proceedings and regulatory actions, which may be material. Such claims could relate to environmental damage, failure to comply with applicable laws and regulations, breach of contract, tax, bribery and employment matters, which could result in an unfavourable decision, including fines, sanctions, monetary damages, temporary suspensions of operations or the inability to engage in certain operations or transactions. The outcome of such claims can be difficult to assess or quantify and may have a material adverse effect on the Company’s reputation, financial condition and results of operations. The defence to such claims may be costly and could divert management’s attention away from day-to-day operations.”173 “Climate change regulations may become more onerous over time as governments implement policies to further reduce greenhouse gases (“GHG“) emissions. As part of long range planning, the Company assesses future compliance costs associated with regulations of GHG emissions in its operations and the evaluation of future projects, based on the Company’s outlook for carbon pricing under current and pending regulations.”174 “The Company operates in some of the harshest environments in the world, including offshore Newfoundland and Labrador. Climate change may increase the frequency of severe weather conditions in these locations including winds, flooding Id. Husky Energy Inc. (2018), Energy Driven: Annual Report 2018, p. 25, available at https://huskyenergy.com/downloads/abouthusky/publications/annualreports/HSE_Annual2018.pdf (last accessed on 12 September 2019). 173 Id., p. 44. 174 Id., p. 45. 171 172 Annex D: Corporate Statements on Climate Change and Human Rights | 44