Climate Change

Noble Energy recognizes that climate change is the subject of global focus among governments, investors and the public.  Much of the discussion about this important and complex issue centers on the impact of human activity, including emissions of greenhouse gas (GHG), on climate.  As an energy producer, we recognize that policies and actions intended to address climate concerns create both risks and opportunities for our business.  Future restrictions on emissions and related measures to encourage use of renewable energy may impact our operations and operating costs and reduce demand for our products.  However, such measures may also increase demand for natural gas as compared to other fossil fuels and present business opportunities for strategic thinkers. For example, we believe our strategically acquired global diversified portfolio positions us well to meet growing natural gas demand, particularly in the power sector and changing policy landscapes. Our Tamar natural gas field reduced coal use and now supplies Israel with approximately 65 percent of the country's power needs.

As part of our commitment to energize the world and better people’s lives, and following broad and diverse stakeholder engagement and assessment of best practices, Noble Energy has refreshed and expanded its focus on corporate responsibility.  The Noble Energy Board Safety, Sustainability and Corporate Responsibility Committee (“SSCR”) oversees and guides corporate activities focused upon safety, corporate responsibility and sustainability, including work in the area of climate.  The formal committee charter has been expanded to reflect and formalize this scope.  The Board works closely with the company’s executive-level Sustainability and Corporate Responsibility Committee (“SCR”), which has also expanded its charter.  The SCR Committee is supported by a multi-disciplinary working group and external experts on climate.  Noble Energy has committed to publish a climate-focused report in 2019.