ESG Overview
Environmental
We are committed stewards of the environment. We have a demonstrated track record of reducing emissions in our operations and producing low-carbon fuels for future generations.
Valero is focused on being the safest and most reliable operator in our industry. As part of this strategy we will continue our efforts to:
- Focus on safety, reliability and operations excellence to deliver products essential to life
- Strive to reduce emission, increase efficiency and invest in opportunities that improve our environmental stewardship
- Lead the industry in low-carbon renewable fuels, regularly evaluating opportunities to expand production
- Execute a long-term strategy that addresses shifting consumer needs under a changing policy and technology landscape.
- On track to achieve 63% global refining GHG emissions by 2025 and 100% by 2035
- 2021, best year ever for environmental performance
- World's 2nd largest renewable diesel producer
- World's 2nd largest corn ethanol producer
- Growth projects in low-carbon fuels as well as carbon and storage
- Robust environmental management system
Social
Valero is a good neighbor and employer. We share our success with the communities where we work and live through volunteerism and charitable giving.
- 2021, best year ever for safety performance
- Surpassed $60 million in community donations and fundraising
- Approximately 10,000 global employees
- 37% of our U.S. workforce are minorities
- 30% of our global professional employees are women
Governance
We view our stakeholders as partners to whom we seek to deliver operational excellence, disciplined management of capital and long-term value on a foundation of strong governance and ethical standards.
- Diverse, independent board of directors:
- 7 of 12 represent diversity of race or gender
- 4 of 12 are women
- 11 are independent
- 4 fully independent committees
- Board and committee oversight of risks and compliance, including climate-change risks, GHG reductions and renewable fuels strategy
- Compensation aligned with performance:
- All-employee bonus program includes ESG efforts and improvements; and
- Executive performance shares include an Energy Transition performance measure (as a modifier to relative TSR) linking compensation to the company’s progress toward its publicly announced 2025 GHG emissions reduction/displacement target and percentage of growth capital deployed for low-carbon initiatives
Learn More About ESG
Get more detailed information about Environmental, Social and Governance at Valero.
Strategy for Value Creation
Valero's strategy for value creation is based on disciplined capital management providing cash returns to our stockholders, a proven history of operations excellence driving higher profitability and visibility to earnings growth with a steady pipeline of high-return projects.
2022 ESG Report
This report includes GHG emissions targets, global refinery GHG emissions Scope 1 and 2 (with independent verification), Net Scope 3 Intensity, SASB disclosures and the EEO-1 report.
2022 TCFD Report
This report includes an independent third-party assessment of Valero’s resiliency under the IEA’s Net Zero by 2050 Scenario.
2021 Valero Stewardship and Responsibility Report
This report includes the SASB report, EEO-1 report and GHG emissions independent verification.
