Occidental Petroleum Corporation’s annual Social Responsibility Report focuses on the policies, objectives, performance and activities of the company and its subsidiaries (collectively, Oxy) in corporate governance, labor, human rights and health, environment and safety (HES).
The 2010 report provides updates to the 2009 Social Responsibility Report and information on new activities and programs implemented in 2010. The report is guided by the sustainability reporting indicators published by the Global Reporting Initiative (GRI) and the American Petroleum Institute and International Petroleum Industry Environmental Conservation Association (API/IPIECA).
The development of this report was informed by the sustainability reporting indicators published by the GRI in 2006 and the API/IPIECA in 2005. Oxy reports on those indicators that we consider most relevant to our business operations. The index refers to the indicators on which we have fully or partially reported. Oxy is evaluating the new API/IPIECA indicators issued in December 2010. We expect to apply the revised indicators starting in 2012, and we will update our online index accordingly.
To continually improve transparency and our report, we have included new Social Responsibility Program highlights; enhanced the evaluation and reporting of energy efficiency; and added information on our goals and objectives, water management, purchasing from local suppliers and promotion of human rights, as well as Oxy’s stakeholder engagement activities.
Oxy's social responsibility practices are fundamental to our reputation as a partner of choice, employer of choice and neighbor of choice.
Guiding Principles Framework – Oxy has adopted six reporting principles to guide structure and content.
Integration and Alignment – Demonstrate how social responsibility is embedded in our business practices.
Context – Present performance results in relation to broader social issues important to stakeholders.
Transparency – Provide clear, understandable, factual information.
Relevance – Address important business issues, impacts and stakeholder questions.
Credibility – Offer supporting information and examples.
Address Stakeholder Expectations – Provide meaningful and valuable information to our stakeholders.
For our Social Responsibility report and website, Oxy includes information for the oil and gas, chemical manufacturing and electricity cogeneration facilities we operate—even if Oxy does not own the facility—and certain joint venture operations. Quantitative data, based on Oxy's share of ownership in facilities that we operate, are not adjusted for terms of complex Production Sharing Contracts and do not include non-operated assets, non-operated joint ventures or operations of Oxy’s customers or others who use Oxy’s products.
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Defining Relevance at Oxy
In selecting the most relevant content for print and online reporting of Oxy's social responsibility performance, we draw upon issues of significance to our business operations and stakeholders.
