SASB Index
The Sustainability Accounting Standards Board (SASB) has developed standards for businesses to identify, manage and report on sustainability topics to meets investor needs. This table references the Standard for the Oil & Gas – Exploration & Production industry with links to where the relevant information can be found on our website and in our 2023 Annual Report Form 10-K.
| Disclosure Topics and Accounting Metrics | |||
|---|---|---|---|
| Topic | SASB Code | Metric | Disclosure/Explanation |
| Greenhouse Gas Emissions | EM-EP 110a.1 | Gross global Scope 1 emissions, percentage methane, percentage covered under emissions-limiting regulations | Scope 1 - 16,432 thousand tonnes |
| Methane emitted as % of natural gas production – 20% | |||
| Covered by regulation – 39% | |||
| EM-EP 110a.2 |
Amount of gross global Scope 1 emissions from: (1) flared hydrocarbons, (2) other combustion, (3) process emissions, (4) other vented emissions, and (5) fugitive emissions | Flared: 21,867 million cubic feet | |
| Other combustion: 197 trillion BTUs | |||
| Process emissions: 2,599 thousand tonnes | |||
| Other vented emissions: No other material emissions under this category. | |||
| Fugitive emissions: 147 thousand tonnes | |||
| EM-EP 110a.3 |
Discussion of long-term and short-term strategy or plan to manage Scope 1 emissions, emissions reduction targets, and an analysis of performance against those targets | Scenario planning Near, medium and long-term risk GHG emissions |
|
| Air Quality | EM-EP 120a.1 | Air emissions of the following pollutants: (1) NOx (excluding N2O), (2) SOx, (3) volatile organic compounds (VOCs), and (4) particulate matter (PM10) | Nox: 47,682 thousand tonnes |
| Sox: 2,607 thousand tonnes | |||
| VOCs: 115,587 thousand tonnes | |||
| PM: 1,818 thousand tonnes | |||
| Water Management | EM-EP 140a.1 | (1) Total fresh water withdrawn, (2) total fresh water consumed, percentage of each in regions with High or Extremely High Baseline Water Stress | Fresh water withdrawn: 10.5 million cubic meters |
| Freshwater consumption intensity: Unconventional freshwater consumption: 0.06 barrels per BOE Conventional freshwater consumption: 0.03 barrels per BOE |
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| Total freshwater withdrawn in stressed region – 14.7% | |||
| EM-EP 140a.2 | Volume of produced water and flowback generated; percentage (1) discharged, (2) injected, (3) recycled; hydrocarbon content in discharged water | 161 million cubic meters (calculated with information disclosed from SD Report performance metrics.) | |
| % discharged onshore: 0% % discharged offshore: 11% |
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| % injected or disposed: 44% | |||
| Recycled/reused: 73.6 million cubic meters | |||
| Hydrocarbons in overboard discharge: 129 tonnes | |||
| EM-EP 140a.3 | Percentage of hydraulically fractured wells for which there is public disclosure of all fracturing fluid chemicals used | All states where we operate have regulations in place that require public disclosure of the chemicals used in hydraulic fracturing utilizing FracFocus, but the level of disclosure varies. The identity of some chemicals and their exact concentrations may be protected by confidential business information considerations and not disclosed. | |
| EM-EP 140a.4 | Percentage of hydraulic fracturing sites where ground or surface water quality deteriorated compared to a baseline | Our Guideline for Groundwater Baseline Assessment provides guidance on when and how voluntary baseline sampling should be conducted through a risk-based approach. | |
| Biodiversity Impacts | EM-EP 160a.1 | Description of environmental management policies and practices for active sites | Managing sustainable development risks Health, Safety and Environment Policy HSE management system Process safety |
| EM-EP 160a.2 | Number and aggregate volume of hydrocarbon spills, volume in Arctic, volume impacting shorelines with ESI rankings 8-10, and volume recovered | Number and volume: 38 spills, 303 barrels | |
| Volume in Arctic: 2 spills, 7 barrels | |||
| Volume impacting shorelines: 0 | |||
| Volume recovered: 155 barrels | |||
| EM-EP 160a.3 | Percentage of (1) proved and (2) probable reserves in or near sites with protected conservation status or endangered species habitat | ConocoPhillips reports on a similar metric that is based on lease areas with operating assets, not proved reserves: Percent of operated area overlapping with IUCN Protective Areas is 0.03% | |
| Per the ConocoPhillips Reserves Estimation and Accounting Policy, further details about probable, possible, and contingent reserves cannot be reported here. The recording and reporting of proved reserves are governed by criteria established by regulation of the SEC and FASB. We have company-wide, comprehensive internal policy that governs the determination and reporting of proved reserves. Our proved reserves are disclosed in our SEC 10K. | |||
| Security, Human Rights and Rights of Indigenous Peoples | EM-EP 210a.1 | Percentage of (1) proved and (2) probable reserves in or near areas of conflict | We currently report on the location of all approved reserves in our annual report. |
| Per the ConocoPhillips Reserves Estimation and Accounting Policy, further details about probable, possible, and contingent reserves cannot be reported here. The recording and reporting of proved reserves are governed by criteria established by regulation of the SEC and FASB. We have company-wide, comprehensive internal policy that governs the determination and reporting of proved reserves. Our proved reserves are disclosed in our SEC 10K. | |||
| EM-EP 210a.2 | Percentage of (1) proved and (2) probable reserves in or near Indigenous land | We currently report on operations near Indigenous communities in our Sustainability Report. The percentage of proved reserves near Indigenous communities is not currently being collected by the company. |
|
| Per the ConocoPhillips Reserves Estimation and Accounting Policy, further details about probable, possible, and contingent reserves cannot be reported here. The recording and reporting of proved reserves are governed by criteria established by regulation of the SEC and FASB. We have company-wide, comprehensive internal policy that governs the determination and reporting of proved reserves. Our proved reserves are disclosed in our SEC 10K. | |||
| EM-EP 210a.3 | Discussion of engagement processes and due diligence practices with respect to human rights, indigenous rights, and operation in areas of conflict | Social Creating shared value Working with communities Valuing human rights Human rights due diligence Indigenous Peoples Security and human rights |
|
| Community Relations | EM-EP 210b.1 | Discussion of process to manage risks and opportunities associated with community rights and interests | Social Creating shared value Working with communities |
| EM-EP 210b.2 | Number and duration of non-technical delays | The company is currently evaluating the technical requirements and standardization of the information to report on this indicator. | |
| Workforce Health and Safety | EM-EP 320a.1 | (1) Total recordable incident rate (TRIR), (2) fatality rate, (3) near miss frequency rate (NMFR), and (4) average hours of health, safety, and emergency response training for (a) full-time employees, (b) contract employees, and (c) short-service employees | TRIR: 0.17 per 200,000 hours worked |
| Fatality rate: 1 (number) | |||
| Currently not publicly disclosing NMFR. As directed by its HSE Management System Standard, the company has a long history of reporting and tracking near misses for the learning opportunities they provide. Supported by advances in being a learning organization, implementing leading metrics, and formalizing an Opportunity to Learn process, our culture around near miss reporting and actioning the learnings from near misses has strengthened. HSE management system Personal safety |
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| Not currently rolling up the training hours given to its employees for health, safety and emergency response. | |||
| N/A | |||
| N/A | |||
| EM-EP 320a.2 | Discussion of management systems used to integrate a culture of safety throughout the exploration and production lifecycle | A learning organization HSE management system Personal safety |
|
| Reserves Valuation and Capital Expenditures | EM-EP 420a.1 | Sensitivity of hydrocarbon reserve levels to future price projection scenarios that account for a price on carbon emissions | Scenario planning Plan for the Net-Zero Energy Transition |
| EM-EP 420a.2 | Estimated carbon dioxide emissions embedded in proved hydrocarbon reserves | Potential CO2e from proved reserves: 2,821 million tonnes | |
| EM-EP 420a.3 | Amount invested in renewable energy, revenue generated by renewable energy sales | ConocoPhillips does not invest in renewable energies with a commercial purpose. | |
| EM-EP 420a.4 | Discussion of how price and demand for hydrocarbons and/or climate regulation influence the capital expenditure strategy for exploration, acquisition, and development of assets | Scenario planning Plan for the Net-Zero Transition |
|
| Business Ethics and Transparency | EM-EP 510a.1 | Percentage of (1) proved and (2) probable reserves in countries that have the 20 lowest rankings in Transparency International’s Corruption Perception Index | Percentage of proved reserves: 3.4% Africa (Libya): 184 barrels Total reserves: 6,758 barrels (Millions of barrels of oil equivalent) |
| Per the ConocoPhillips Reserves Estimation and Accounting Policy, further details about probable, possible, and contingent reserves cannot be reported here. The recording and reporting of proved reserves are governed by criteria established by regulation of the SEC and FASB. We have company-wide, comprehensive internal policy that governs the determination and reporting of proved reserves. Our proved reserves are disclosed in our SEC 10K. | |||
| EM-EP 510a.2 | Description of the management system for prevention of corruption and bribery throughout the value chain | Business ethics Code of Business Ethics and Conduct Supplier expectations |
|
| Management of the Legal and Regulatory Environment | EM-EP 530a.1 | Discussion of corporate positions related to government regulations and/or policy proposals that address environmental and social factors affecting the industry | Climate change public policy engagement Political Support Policy & Procedures |
| Critical Incident Risk Management | EM-EP 540a.1 | Process Safety Event (PSE) rates for Loss of Primary Containment (LOPC) of greater consequence (Tier 1) | Currently do not have an indicator that is aligned with SASB methodology. |
| EM-EP 540a.2 | Description of management systems used to identify and mitigate catastrophic and tail-end risks | Managing sustainable development risks Risk management Assessing climate-related risk Managing climate-related risk Integrating climate-related risks Into ERM Managing local environmental risks |
|
| Activity Metric | |||
| Production | EM-EP 000.A | Production of: (1) oil, (2) natural gas, (3) synthetic oil, and (4) synthetic gas | Total production: 1,826 MBOED Crude oil: 936 MBD Natural gas liquids: 287 MBD Bitumen: 81 MBD Natural gas: 3,135 MMCFD |
| Sites | EM-EP 000.B | Number of offshore sites | Requires consistent SASB definition of offshore and terrestrial sites |
| Sites | EM-EP 000.C | Number of terrestrial sites | |