chevron supports well-designed climate policy

Chevron supports the global ambitions of the Paris Agreement and continues to take actions to help lower the carbon intensity of our operations while continuing to meet the world’s demand for energy.

We believe broad, market-based mechanisms are the most efficient approach to addressing greenhouse gas emissions reductions.

Chevron supports a lifecycle approach to carbon accounting. Also known as “carbon footprinting,” a lifecycle approach to carbon accounting facilitates informed decision making throughout the value chain.

Such an approach could enable policymakers to drive the most pragmatic policy, incentivize producers to abate more, inform buyers on making lower carbon choices in a standardized manner and identify more cost-efficient emissions reduction options.

We believe methane management is critical to a lower carbon future and that methane reductions are possible through adoption of industry best practices, advancement in measurement technologies, carbon pricing and methane regulations.

Chevron supports energy policies that incentivize the investment in projects and products that promote new technologies.

We believe carbon pricing should be the primary policy tool to achieve greenhouse gas emissions reduction goals. In regions lacking sufficient carbon markets, government incentives and grants can be useful tools in encouraging a lower carbon future.