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Sustainability

Principles of Governance

Oxy management and its Board of Directors are committed to high standards of ethical conduct, institutional integrity and effective corporate governance in every part of our business as we create value to benefit our shareholders, communities and society as a sustainable energy leader.

SUSTAINABILITY STRATEGY

Oxy is progressing its vision as an innovative and sustainable energy leader with industry-leading initiatives and investments to enable a low-carbon future. As part of our commitment to sustainability in all facets of our business, Oxy strives to diligently identify and address our key ESG risks and opportunities. We integrate ESG criteria into our strategic planning and investment decision-making process and perform routine risk assessments to support readiness for emerging challenges and opportunities.

Sustainability Reporting Process and Alignment with Reporting Frameworks

Oxy’s sustainability reporting process is informed by IPIECA's Sustainability Reporting Guidance and our performance disclosures are aligned with the Value Reporting Foundation using the SASB Standards for the Oil & Gas and Chemicals sectors and the American Chemistry Council’s Responsible Care® initiative. The World Economic Forum and its International Business Council’s (WEF-IBC) Four Pillars of Stakeholder Capitalism (Principles of Governance, Planet, People, Prosperity) represent key areas of strategic focus for Oxy, and they will guide our reporting as we continue to implement and enhance sustainable business practices and disclose performance. Our Climate Report “Pathway to Net-Zero” reflects the four-element framework recommended by the Task Force on Climate-related Financial Disclosures (TCFD).

 

CORPORATE GOVERNANCE 

Our senior management team and Board of Directors are committed to high standards of ethical conduct, institutional integrity and effective corporate governance in every part of our business. We are dedicated to respecting the environment, operating safely and upholding high standards of ethics and sustainability throughout the company's worldwide operations.

Our governance policies are reviewed and updated periodically to reflect changing laws and regulations, evolving best practices and shareholder feedback. They generally align with the Investor Stewardship Group’s Corporate Governance Framework for U.S. Listed Companies.

 

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