CDP

The summary presents headline company findings. It is based on detailed analysis across a range of carbon and transitional indicators which could have a significant impact on company performance. It is designed to serve as a proxy for business readiness in an industry which will undergo significant change as governments increase efforts to implement the Paris Agreement. Companies placed towards the bottom are deemed less prepared for a low-carbon transition.   Notes: (i) Weighted ranks are calculated for each area. We display non-weighted ranks in this summary for simplicity only. (ii) Average market cap for last 12 months up to Q3 2018. (iii) Analysis for BP excludes its share in Rosneft. Scope 1+2 emissions figures are for 2016 for Apache and ExxonMobil and is an estimated figure for Petrochina. (iv) For Adjusted EBITDA split by business area, Downstream includes Midstream and / or Chemicals if split is not available. (v) Apache, BP, Chevron, CNOOC, ExxonMobil and Marathon Oil are non-responders to CDP’s 2018 climate change questionnaire. We encourage investors to raise this lack of transparency in discussions with company management.