Climate Change Principles
On issues of global warming and climate change, Murphy shares the concerns of our shareholders, employees and community. As a company, we recognize that our planet has experienced periods of global warming as well as global cooling.
The need to advance our knowledge notwithstanding, it is incumbent upon all of us to do what is possible to mitigate the potential impact of greenhouse gases (GHG) on our environment, as well as prepare to adapt to unavoidable changes in the climate system.
Murphy, in consultation with some of the foremost climate experts and scientists in the world that have been studying the issue for nearly a decade, developed in 2008, a corporate set of “Guiding Principles for Climate Change”, that is current today, to assist Murphy in communicating to our employees, the public and policy makers our position as climate change events unfold throughout the world. We are a financial sponsor and actively participate in the Massachusetts Institute of Technology Joint Program on the Science and Policy of Global Change since 1998.
Climate Change Risks & Opportunities
We work to assess our governance, strategy, risk identification, and management and measurement of climate risks and opportunities in order to remain in alignment with the Task Force for Climate-related Financial Disclosures (TCFD) core elements.
15 to 20 percent using 2019, excluding Malaysia, as a baseline. We believe our continued focus on intensity is the most effective metric to enhance the sustainability of our business.