Chevron Corporate Sustainability Report for 2021
Chevron Corporate Sustainability Report – Chevron strives to be honest and enhance its reporting on sustainability-related themes in order to provide investors and other stakeholders with comparative and decision-useful information. We’re collaborating with peers, stakeholders, and regulators to improve reporting uniformity and comparability.
In both voluntary and mandated disclosures, we examine environmental, social, and governance facts. We use the reporting rules, indicators, and terminology of Ipieca, the International Association of Oil and Gas Producers (IOGP), and the American Petroleum Institute’s Sustainability Reporting Guidance for the Oil and Gas Industry (2020) for voluntary reporting (API). We also evaluate other major reporting frameworks, such as the World Economic Forum’s Stakeholder Capitalism measures, when deciding which data to include in our tables.
Our existing reporting data is mapped to the relevant Sustainability Accounting Standards Board (SASB) and Ipieca frameworks via index columns. The indices are based exclusively on Chevron‘s interpretation and judgement, and do not imply that the SASB and Ipieca frameworks have been applied. For information on Chevron’s data-reporting foundation, please see the relevant footnotes.
We included a new table to this year’s Corporate Sustainability Report that measures our progress toward our 2028 GHG emissions intensity targets. We also included gender and region information to our worldwide staff diversity data. We established the portfolio carbon intensity (PCI) technique to enable the comparison of Scope 1, 2, and 3 GHG emissions of companies that may participate in different areas of the value chain, in accordance with our goal of providing comparable and transparent data. A different GHG data performance table is also available, based on the API Template for GHG Reporting (March 2022) and API Guidance Document for GHG Reporting (March 2022). We want to keep delivering actual outcomes and communicating our efforts in a transparent manner.
Chevron Corporate Sustainability Report
We also enlisted the help of LRQA to give reasonable independent assurance on Chevron’s processes for producing the Corporate Sustainability Report for calendar year 2021. LRQA’s assurance engagement covered Chevron’s global operations and activities, evaluating how effective Chevron’s reporting processes were in delivering health, safety, and environmental indicators that are useful for assessing corporate performance and reporting information consistent with core and additional reporting elements in the Ipieca/API/IOGP Sustainability Reporting Guidance for the Oil and Gas Industry (2020) and SASB Oil and Gas – Exploration and Productivity (2020) and SASB Oil and Gas – Exploration and Productivity Ipieca elements and SASB metrics that are referenced are only partially reported in some circumstances.
We’ve been conducting independent third-party assurance of Chevron’s GHG emissions for over ten years. On an operational control basis, we increased this guarantee in 2021 to include Chevron’s performance data, Scope 3 emissions, and GHG emissions. The goal is to see if the assured emissions statistics are reported in line with the criteria of completeness, cross-organizational comparability, and correctness, which includes calculations, conversion factors, and consolidation.