While uncertainties remain, we continue to manage greenhouse gas emissions in our operations and to integrate climate change related activities and goals into our business planning. Our corporate action plan focuses on the following areas: • • • • • Understanding our GHG footprint Reducing our GHG emissions Evaluating climate change related risks Leveraging technology innovation to explore new business opportunities Engaging externally in support of practical, sustainable climate change solutions • Reviewing progress and updating business unit climate change management plans Our approach to climate change is designed to advance the company’s vision to be the exploration and production company of choice for all stakeholders by pioneering a new standard of excellence. We believe that effective climate change policy must be aligned with the following principles: • Recognize that climate change is a global issue which requires global solutions — economy-wide governmental GHG management frameworks should be linked to binding international agreements comprising the major GHG contributors • Result in the stabilization of global GHG atmospheric concentrations at safe levels • Coordinate with energy policy to ensure a diverse and secure supply of affordable energy • Utilize market-based mechanisms rather than technology mandates • Create a level competitive playing field among energy sources and between countries • Avoid overlapping or duplicating existing energy and climate change programs • Provide long-term certainty for investment decisions • Promote government and private sector investment in energy research and development • Match the pace at which new technology can be developed and deployed • Encourage efficient use of energy • Foster resiliency to the impacts of a changing climate • Avoid undue harm to the economy. Building balanced energy policies is challenging, and we recognize that no one has all the answers. As economies around the world continue to develop, fossil fuels will play an important role in meeting the growing global demand for energy.”94 ConocoPhillips (February 2016), Climate Change Position, p. 43, available at http://static.conocophillips.com/files/resources/climate-change-position_final.pdf (last accessed on 12 September 2019). 94 Annex D: Corporate Statements on Climate Change and Human Rights | 22