governance

getting results the right way

The principles of responsibility, trust and integrity guide our actions and shape our operations. We follow The Chevron Way by prioritizing culture, pursuing operational excellence and advancing corporate governance.

We invest in people to strengthen organizational capability and develop a talented global workforce that gets results the right way. Our success in attracting, developing and retaining a diverse workforce comes from strategies, programs and processes based on The Chevron Way.

we continuously improve how we work to reduce health, safety and environmental risks

Chevron’s leaders drive our culture of Operational Excellence (OE) by managing risk and learning from each other. We focus on performing every task the right way, every time, to keep our people, partners, communities and the environment safe. Our OE objectives and expectations guide our efforts in six key focus areas: workforce safety and health; process safety, reliability and integrity; environment; efficiency; security; and stakeholders.

2019 was our second safest year in recent history. This success is a credit to the Operational Excellence Management System (OEMS), established in 2004 to manage health, safety and environmental risks. The OEMS enables us to assess risks, identify safeguards and implement programs to assure these safeguards are effective. We constantly strive to learn and innovate to keep people safe.

we believe good governance helps us apply the chevron way in all that we do

Chevron believes strong governance is the foundation for delivering strong shareholder value. Our governance structures reflect our commitment to fostering long-term relationships, trust and goodwill with our shareholders, ensuring that our decisions and actions advance and respond to shareholders’ interests and supporting full transparency. Our Investor Relations and Corporate Governance teams focus on engaging with shareholders and investors on a range of key issues, including operations, finance, governance, executive compensation, environmental topics, safety and policy.

In 2018, Chevron created a dedicated team to engage on environmental, social and governance (ESG) issues with investors, other stakeholders, framework developers – such as the Task Force for Climate-related Financial Disclosures (TCFD) – the Sustainability Accounting Standards Board (SASB), and ESG rating agencies. The ESG team and, when appropriate, senior executives, subject matter experts and, when appropriate, our Lead Director regularly conduct in-depth discussions with investors and stakeholders. We aim to engage annually with our top 50 investors and other key stakeholders. Chevron gains valuable feedback during these engagements, and this feedback is shared with the Board and relevant Board committees. The ESG team regularly briefs the Global Issues Committee on its efforts and supports the briefing of the Public Policy & Sustainability Committee.

We also participate in conversation about ESG issues with U.S. government policymakers through our membership in the Bipartisan Policy Center (BPC). BPC is a think tank that actively fosters bipartisanship to solve challenging issues and chart a productive path forward. We believe our work with this task force serves as a venue for policymakers and staffers to explore the fast-evolving landscape of ESG and climate risk disclosures and to consider bipartisan solutions.