Climate change is a global challenge that requires government, business leaders and civil society to work together on cost-effective policy responses that recognize the vital role safe, affordable and reliable energy plays in ensuring human welfare, economic growth and security.
Our clean water and sanitation; food production and storage; lighting, heating and cooling; transportation and defense systems depend predominantly on abundant, affordable and secure supplies of oil and natural gas. Oil and natural gas also serve as feedstock for thousands of products on which modern society relies – products such as medical devices, pharmaceuticals, clothing and building materials – and provide jobs and revenues critical to supporting economies around the world.
At Hess, we understand that oil and natural gas are essential to meet the world’s growing energy demand, and we are committed to developing these resources in an environmentally responsible and sustainable manner. Our environment, health, safety and social responsibility strategy addresses climate change and the actions we can undertake to control and reduce our carbon footprint. We have established targets to reduce greenhouse gas emissions intensity by 25 percent and flaring intensity by 50 percent, for the current portfolio of assets we operate, by 2020 (versus a 2014 emissions baseline). Sustainability risks, including climate change, are examined by our Board of Directors and taken into account in formulating our company strategy.