Our executive leadership team (ELT) is responsible for developing corporate strategy, including implementing sustainability efforts, managing climate-related risks and opportunities, and driving the business in implementing climate-related plans. The Senior Vice President (SVP), Strategy, Commercial, Sustainability and Technology, who reports to the Chief Executive Officer, has overall accountability for corporate planning and development, including corporate strategy and long-range planning. The SVP, Strategy, Commercial, Sustainability and Technology also has ultimate responsibility for climate risk management and the implementation of our net-zero ambition. In addition, the Sustainability and Public Policy Executive Council (SPEC), a subcommittee of the ELT, has global oversight of existing and emerging SD and public policy risks and trends including SD and climate-related governance, strategic planning, risk management and public reporting. The SPEC consists of the following executives:

• SVP, Strategy, Commercial, Sustainability and Technology
• EVP, Lower 48
• EVP and Chief Financial Officer
• SVP, Global Operations
• SVP, Legal and General Counsel
• SVP, Government Affairs
• Advisor to the CEO

Members of SPEC were briefed five times in 2023 on priority topics such as climate change, biodiversity, water, human rights and stakeholder engagement. The council’s scope includes:

• Reviewing risk trends and setting priorities.
• Reviewing and approving public policy and sustainability policies, positions, strategies, goals and actions on priority matters.
• Prioritizing resource allocation to external engagement and initiatives.
• Recommending which issues warrant additional executive leadership, full ELT review or additional board engagement.
• Reviewing and endorsing agenda and meeting content for the Public Policy and Sustainability Committee (PPSC) of the board.

The SPEC is also the governance link to the PPSC, whose oversight covers SD matters including climate and nature-related risks.