Warming of the climate is unequivocal, the human influence is clear and physical impacts are unavoidable.

We believe that:

• The world must pursue the Paris Agreement goals with increased levels of national and global ambition to limit the impacts of climate change.
• Providing access to affordable and clean energy and other products is essential to meet sustainable development goals.
• Under all current plausible scenarios,⁽¹⁾ fossil fuels will continue to be a significant part of the global energy mix for decades.
• Demand for renewable energy technologies is likely to grow at unprecedented rates as the power sector decarbonises, and electrification trends accelerate in coming decades.
• There needs to be an acceleration of global effort to drive energy efficiency; to develop and deploy low emissions and negative emissions technologies; and to adapt to the impacts of climate change.
• Policies to spur rapid action should be implemented in an equitable manner to address competitiveness concerns and achieve lowest cost abatement.

We will:

• Continue to take action to reduce our operational greenhouse gas (GHG) emissions in line with our public targets.
• Support emissions reductions in our value chain, and the economy-wide transitions necessary to meet the Paris Agreement goals, by working with customers and suppliers to achieve sectoral decarbonisation.
• Partner with others to accelerate the transition to a low carbon future and in the development of low emissions and negative emissions technologies, including natural climate solutions.
• Adapt to the potential physical impacts of climate change by building the resilience of our operated assets and investments and contributing to community and ecosystem resilience.
• Seek to enhance the global response to climate change by engaging with governments, maintaining a commitment to climate change advocacy and continuing to promote market mechanisms to reduce global emissions at least cost.

_{(1) This reference to scenarios is intended to have its meaning in common usage, and is not a reference to the scenarios considered in our portfolio analysis.}