public annually on our progress on the implementation of projects and the achievement of objectives, in accordance with the rules of the UN Global Compact.”162 Hess Corporation Statements on Climate Change “Climate change is a significant global challenge that requires governments, businesses and civil society to work together on cost-effective policies. We believe climate risks can and should be addressed while also providing the safe, affordable and reliable energy necessary to ensure human welfare and global economic development in the context of the United Nations (U.N.) Sustainable Development Goals. Our company is committed to helping meet the world’s growing energy needs in a safe, environmentally responsible, socially sensitive and profitable way. Our Board is climate change literate and actively engaged in overseeing Hess’ sustainability practices, working alongside senior management to evaluate various sustainability risks and global scenarios in making strategic decisions. We are committed to transparency, and our strategy and reporting are closely aligned with the recommendations of the Task Force on ClimateRelated Financial Disclosures”163 “Our business planning includes actions we will undertake to continue reducing our carbon footprint in keeping with the findings of the U.N. Intergovernmental Panel on Climate Change and the aim of the Paris Agreement to limit global average temperature rise to well below 2°C. Our Board of Directors and senior leadership have set aggressive targets for GHG emission reductions, and over the past 10 years, our company has reduced our equity GHG emissions by approximately 63 percent.”164 “The imposition and enforcement of stringent greenhouse gas emissions reduction targets could severely and adversely impact the oil and gas industry and significantly reduce the value of our business. Furthermore, increasing attention to climate change risks has resulted in increased likelihood of governmental investigations and private litigation, which could increase our costs or otherwise adversely affect our business.”165 “We are committed to meeting the highest standards of corporate citizenship by protecting the health and safety of our employees, safeguarding the environment and creating a long-lasting, positive impact on the communities where we do business.166 “Hess is an active member of IPIECA on sustainable development issues such as climate change, biodiversity impacts and access to energy – issues that are too Id. Hess Corp. (2018), Annual Report, p. 3, available at https://investors.hess.com/static-files/f0375fc7-bcbb-4b34a984-c17c26cde53a (last accessed on 12 September 2019). 164 Id. 165 Id., p. 15. 166 Hess Corp. (2018), Sustainability Report, available at https://www.hess.com/docs/defaultsource/sustainability/hess-2018-sustainability-report.pdf?sfvrsn=11cd7b6b_2 (last accessed on 12 September 2019). 162 163 Annex D: Corporate Statements on Climate Change and Human Rights | 42