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Exxon Mobil Corporation on May 22 issued its 2008 Corporate Citizenship Report detailing actions to improve environmental, economic and social performance, while providing energy to meet the worlds’ growing demand.
The report details how ExxonMobil reduced greenhouse gas emissions, led the industry in worker safety and oil-spill prevention, and contributed more than eight times its earnings – a record $402 billion – to economies around the world through taxes and purchases of goods and services.
“ExxonMobil’s role is to provide energy to sustain and improve standards of living for people worldwide while delivering a return to our shareholders,” said Rex W. Tillerson, chairman and chief executive officer. “We are committed to taking on this challenge in a manner that reflects our own culture of integrity while balancing the components of sustainability – economic growth, social development and environmental protection.”
The report details how ExxonMobil:
· Leads the industry in workforce safety with a 12 percent reduction in lost-time incident rate on average, each year since 2000.
· Reduced direct greenhouse gas emissions from its operations.
· Invested more than $1.5 billion in the past five years to increase energy efficiency and reduce greenhouse gas emissions.
· Achieved zero spills from ExxonMobil-operated and long-term chartered marine vessels in 2008 and reduced the number of spills greater than one barrel by 60 percent since 2001.
· Strengthened corporate governance by enhancing the role of the presiding director. The presiding director has the authority to call and chair executive sessions of non-employee directors, and chairs all board meetings in the absence of the chairman. The presiding director reviews board meeting topics, agendas and schedules with the chairman prior to distribution to the board, which consists of one employee and 10 non-employees.
· Provided $225 million in combined corporate giving in the form of cash, goods and services worldwide.
· Employed a variety of economic support and incentive programs for capacity building – collectively referred to as national content development. In Angola for example, ExxonMobil enhanced local capacity through business development and expenditures on local goods and services which totaled $1.5 billion.
In a new initiative this year, ExxonMobil invited a group of experts in non-financial reporting and corporate citizenship to review and provide feedback on the reporting process. The panel provided guidance and comments which reinforced the effectiveness of the ExxonMobil reporting process in addressing a wide range of challenging issues. The panel also provided feedback on areas for future improvement, such as the inclusion of a more detailed description of future action plans and broader discussion of the challenges faced in balancing the drivers of sustainability.
“In all areas of corporate citizenship, we listen to others in order to understand different perspectives, to regularly assess our progress, and to know where we need to improve,” Tillerson said. “While proud of our achievements in 2008 we are not complacent. That is why we retain a relentless focus on all key indicators of our performance.”
To underscore the importance of community engagement as a critical component of good corporate citizenship, Ken Cohen, ExxonMobil’s vice president of public affairs, will be available for an online web chat to answer questions about ExxonMobil’s 2008 Corporate Citizenship Report. The online discussion will take place at 2:30 pm, Central Time on Friday, June 5 at Live Q&A on the washingtonpost.com. Questions can be submitted live during the event or in the lead up to the event.
About the Corporate Citizenship Report
The Corporate Citizenship Report was prepared in accordance with the reporting guidelines and indicators of the International Petroleum Industry Environmental Conservation Association and the American Petroleum Institute Oil and Gas Industry Guidance on Sustainability Reporting. The majority of these indicators are also consistent with the indicators used by the Global Reporting Initiative in the G3 Sustainability Reporting Guidelines Version 3.0.