Sustainable development

Society’s demands on the industry to take account of the environment had become stronger as a result of international agreements, EU legislation and national law.

John A Viste, who headed work on sustainable development in the business unit, explained that the report provided a picture of where the group stood.

This covered technology, corporate social responsibility, a healthy environment and viable local communities, and served as a comparative basis for future work.[REMOVE]Fotnote: Nordsjø-Pionér, June 2005.

The three priorities for reaching ConocoPhillips’ sustainability obligations were promoting economic growth, a healthy environment, and a viable society today and tomorrow.

This was broken down in more detail as nine important areas where the company made a commitment in order to remain a leading energy enterprise. These were:

• increase the availability of ever cleaner energy
• be open and credible by measuring and reporting both financial and non-financial performance
• operate the business to the highest safety standards
• have a positive influence on the societies where the company operates
• minimise the company’s environmental impact
• invest in the welfare and development of employees
• constantly improve efficient use of energy and materials in the business
• apply and maintain the highest ethical standards
• secure the company’s long-term financial viability.

Climate challenge

Where the climate was concerned, ConocoPhillips acknowledged that human activities – including the use of fossil fuels – helped to increase greenhouse gases (GHGs) in the atmosphere. That in turn could cause harmful changes globally.

In its planning processes, the company undertook to identify how far the business it conducts releases GHGs and to develop corporate targets for reducing such emissions.

The plan for handling climate change covered six points:

• set targets for GHG emissions while maintaining safe operation and good profitability
• integrate company policies for climate change in strategic planning, decisions and operating processes
• strive for certain low-carbon and carbon-free energy technologies and business opportunities for carbon management
• participate in developing official polices on and measures for tackling climate change in an effective manner
• help customers and encourage suppliers to reduce their GHG emissions
• measure and report the company’s progress.[REMOVE]Fotnote: Nordsjø-Pionér, May 2005.

Sustainable development report 2005