ESG Overview

ESG_Overview_Full_Desktop
Refinery employees wearing bright colored safety uniforms

Environmental

We have demonstrated a track record of environmental responsible operations, large-scale production of low-carbon fuels for future generations and participation in environmental stewardship efforts in our communities.

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 emissions, 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
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Volunteers at the Pontchartrain Tree Planting
  • In 2022, three years ahead of schedule, we achieved our 2025 GHG emissions target to reduce and displace the equivalent to 63% of the tonnage from our global refinery GHG emissions (Scopes 1 and 2)
  • Our 2050 ambition is to reduce and displace company-wide GHG emissions for Scopes 1, 2, 3 and 4 by more than 45 million metric tons CO2e
  • World's 2nd largest renewable diesel producer
  • World's 2nd largest corn ethanol producer
  • Growth projects in low-carbon fuels as well as carbon capture and storage
  • Robust environmental management system
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Galveston Bay Reef Restoration

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.

  • Surpassed $77 million in community donations and fundraising
  • Nearly 10,000 global employees
  • 39% of our workforce are minorities
  • 30% of our global professional employees are women
Female Board of Directors

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 11 represent diversity of race or gender
    • 4 of 11 are women
    • 9 are independent
    • 4 fully independent committees
    • 6 new independent directors since 2016
  • Board and committee oversight - HSE, Public Policy, Sustainability and Climate 
     
  • Linking HSE, Sustainability and Climate to Executive Compensation:
    • Annual Bonus Program - includes both HSE performance measures and ESG efforts and improvements. Since 2022, the Health, Safety and Environment sub-component of the annual bonus program was improved by adjusting targets for certain metrics and through the implementation of a severity/volume enhancer on the Environmental Scorecard Incidents metric.
    • Long-Term Incentive (LTI) Program - A performance share component was added to include ties between executive compensation and our low-carbon fuels strategy, including (i) progress towards the publicly announced GHG emissions reduction/displacement targets, and (ii) investment of growth capital attributable to Valero into low-carbon initiatives.
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Learn More About ESG

Get more detailed information about Environmental, Social and Governance at Valero.  

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Publications

2024 ESG Report

This report covers our business strategy, sustainability and climate-related matters, low-carbon initiatives and SASB disclosures.

2023 ESG Report

This report includes GHG emissions targets, 2050 GHG emissions ambition, Scope 1 and 2 emissions, Scope 3 intensity and SASB disclosures.

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

2021 Valero Stewardship and Responsibility Report

This report includes the SASB report, EEO-1 report and GHG emissions independent verification.

2021 TCFD Report

Codes of Conduct

Code of Business Conduct Ethics

Valero's Conduct Guidelines for Business Partners – English

Valero's Code of Business Conduct and Ethics – Spanish

Valero's Conduct Guidelines for Business Partners – Spanish

Valero's Code of Business Conduct and Ethics – French

Valero's Conduct Guidelines for Business Partners – French