Measurement, reporting and verification of our climate efforts and GHG data is critical for establishing credibility and accountability around our targets. We have traditionally used third-party verification for external, independent, limited assurance of our GHG metrics. We also perform reasonable assurance at select operated assets where it is required by country-level regulation.

Each of our BUs is responsible for quantifying emissions and reporting the information to our corporate center for compilation and internal quality assurance. Our GHG emissions measurement methodologies use the rules, emission factors and thresholds for regulatory emissions reporting with the following amendments: We use a reporting threshold of 25,000 tonnes of CO₂e per year for an asset and/or emission source category unless the regulatory reporting threshold is lower. In our corporate reporting system, we include GHG emissions based on direct sources of emissions (Scope 1 emissions) and indirect sources of emissions from imported electricity and steam (Scope 2 emissions).

The method of data collection at each individual source can range from continuous emissions monitoring to emissions estimations. Our estimating approaches meet applicable regulatory reporting requirements or industry guidance, as appropriate. The quality of estimating methodologies, measurements and calculations is assessed internally by our corporate Environmental Assurance group. 

We also report GHG emissions on an equity basis. GHG emissions from non-operated assets are included for affiliated companies and joint ventures in which ConocoPhillips owns greater than or equal to 20% working interest or when our share of GHG emissions (based on working interest) is greater than or equal to 25,000 tonnes of CO₂e per year.

Reporting to authorities and regulators is also the responsibility of BUs and we report our operated emissions in the following regions, countries and provinces in accordance with regulation:

• Australia: The National Greenhouse and Energy Reporting Act 2007 (NGER Act) and the National Greenhouse and Energy Reporting (Measurement) Determination 2008.
• European Union: EU Emissions Trading System, Monitoring and Reporting Regulation Council Directive 2003/87/EC, as amended by Council Directive 2009/29/EC.
• Norway: Greenhouse Gas Emission Trading Act of 17 December 2004.
• United Kingdom: UK Emissions Trading Scheme established through the Greenhouse Gas Emissions Trading Scheme of 2020.
• Alberta, Canada: Emissions Management and Climate Resilience Act: Specified Gas Reporting Regulation, Alberta Regulation 251/2004.
• British Columbia, Canada: Greenhouse Gas Industrial Reporting and Control Act: Greenhouse Gas Emission Reporting Regulation, British Columbia Reg. 249/2015.
• Indonesia: Minister of Environment Regulation No. 12 of 2012 regarding Guideline for the Emission Load Calculation for Oil and Gas Industry Activities.
• United States: 40 CFR 98 Subparts C, MM, PP, UU, W, and Y. Stationary Combustion Sources; Suppliers of CO₂; Suppliers of Petroleum Products, Injection of CO₂; Petroleum and Natural Gas Systems; Petroleum Refineries

The verification and assurance process for 2021 data consisted of independent third-party limited assurance of Scope 1, Scope 2 and Scope 3 GHG emissions, including assurance of methane emissions, GHG intensity, methane intensity, flaring volumes and energy use. For the 2021 reporting year, we have also expanded our assurance scope beyond quantitative metrics to include governance and climate-related disclosures. We also conduct limited assurance on non-GHG data every three years.

To continuously improve processes and controls for our ESG disclosures, we are conducting an internal audit in 2022 under the direction of our Board of Directors’ Audit and Finance Committee. With the assistance of independent consultants, we are further reviewing our internal processes and controls, and evaluating methods to continuously improve the quality, consistency and transparency of our GHG data. In 2022, we commenced internal corporate audits and assessments against our Environmental Performance Metrics Reporting Practice, and we are improving our overall assurance for GHG data.

The company is also closely engaged with the Human Resources and Compensation Committee to ensure our emissions reduction and climate-related goals are reflected in our employee and executive compensation programs.

See our most recent ERM CVS Assurance Statement and read more about our internal quality assurance and third-party verification.