logo
Plus   Neg
Share
Email

Chevron Issues Second Climate Report

Chevron Corp. (CVX) published its second report describing the company's approach to managing climate change risks and its resilience under a low carbon scenario.

"We proactively consider climate change in our business decisions, and we have the experience, processes and governance in place to manage the risks," said Michael Wirth, Chevron's Chairman and CEO. "We believe we are equipped to continue to succeed in any business environment as we deliver affordable, reliable energy that is a fundamental driver of economic growth and human progress."

Aligned with the Financial Stability Board's Task Force on Climate-Related Financial Disclosures recommendations, Chevron's report explains the company's strategic decision-making approach to climate change related risks. These include ongoing evaluations of the company's portfolio and future investments, its views of supply, demand, commodity and carbon prices, and the factors that drive global economic change.

The report summarizes Chevron's work to test the competitiveness of its current assets under multiple scenarios, including some of the most restrictive greenhouse gas reduction proposals such as the Sustainable Development Scenario from the International Energy Agency. The results demonstrate that the company's portfolio, due to its maturity and diversity across assets and geographies, is resilient in a wide variety of possible scenarios and enables Chevron to be flexible in response to potential changes.

"We know that climate change is a growing area of interest for our investors and other stakeholders. We're committed to addressing the risks of climate change while delivering the energy that benefits societies and economies," said Dr. Ronald Sugar, lead independent director for Chevron's Board of Directors.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A former Southwest Airlines employee has filed a racial discrimination lawsuit against the airline, alleging that the carrier allowed its employees to create a "whites-only" breakroom. The lawsuit was filed in the United States District Court in Houston earlier this week by Jamel Parker, a former employee of Southwest Airlines. American Airlines Inc. has joined its major rivals in raising baggage fees as the airline industry grapples with higher fuel costs and rising operating expenses. The largest U.S. airline said Thursday it is raising the price of a first and second checked bag by $5 each. The price of a first checked bag is now $30, while it is $40 for a second checked bag. The takeover battle by Comcast Corp. nd Rupert Murdoch's 21st Century Fox Inc. for British broadcaster Sky plc will be settled through an auction. The UK Takeover Panel said Thursday that an auction procedure is expected to commence on the evening of Friday, September 21, 2018 and end on the evening of September 22, 2018. The winner of the auction will be announced on Saturday.
Follow RTT