We believe our corporate strategy enables us to meet the challenges posed by current and future climate-related risks.
We aim to be the leading North American E&P by generating free cash flow and delivering superior returns both to our shareholders and on the capital we invest in our multi-basin portfolio. By focusing on execution excellence, disciplined capital allocation, commercial acumen and risk management and driving ESG progress, our business can thrive across a variety of scenarios. Our business structure and experience allow us certain opportunities when operating under climate-sensitive scenarios.
Our development portfolio is highly focused on short-cycle opportunities enabling us to maintain operational flexibility at both the asset and portfolio level. This allows for rapid conversion of capital into cash flow, and a high degree of agility in managing risk and responding to opportunities.
In an evolving commodities market, we have continued our track record of demonstrating capital discipline while driving efficiency and lowering costs in every part of our business. We will continue to be a leading North American operator by strategically managing our supply chain and utilizing technology and innovation to responsibly develop our assets.
We have experience operating under carbon tax jurisdictions in Canada. Our corporate culture and structure promote knowledge sharing, and we expect to apply carbon tax learnings to our U.S. assets in the event of carbon tax regulation.
Our culture of innovation encourages us to utilize technology and operational efficiencies, particularly to drive free cash flow and emissions reductions. Ovintiv closely follows technology advancements and will continue to deploy equipment proven to be effective in reducing emissions.