Leading U.S. oil producer issues first sustainability and climate analysis
Pioneer Natural Resources, one of the largest U.S.-based oil producers, released this week its first-ever sustainability report that analyzes how the company would fare in a carbon-constrained world.
Why it matters: Pioneer is a dominant producer in Texas' prolific Permian oil basin in West Texas, so their move to publish such a report suggests it's not just the biggest, most global oil and gas companies acknowledging climate change is a material business risk. It also shows the impact of investor pressure. The sustainability report was required by a shareholder resolution vote earlier this year.