Valero closely follows regulatory developments and participates in professional and public-policy forums that address climate change and its potential impacts. With adoption of new technologies, and improved and more efficient operations, Valero will continue to reduce its greenhouse-gas emissions.
We continue to evaluate low-carbon opportunities for the production of transportation fuels, electricity and chemicals. Through initiatives such as flare-gas recovery, on-site power and steam co-generation, and alternative-energy endeavors, Valero continues to produce clean and renewable fuels for the world's energy needs in safe and reliable facilities, with a focus on the communities and the environment around them.
Valero prepares annual greenhouse-gas emission inventories which follow rigorous regulatory-prescribed measurement and estimation methodologies. The company lowered its per-barrel greenhouse-gas emissions by 6 percent in 2013, the last full year reported. This reduction is reflective of our efforts to continually improve the energy efficiency of our operations.