disclosures of ESG issues that we made in 2017 through the updated publication of our Sustainability Report, which can be found on the Company website. With respect to the disclosure of ESG metrics generally, the Company continues to assess appropriate next steps, and will continue to engage with investors on this topic.
SUSTAINABILITY
Phillips 66 is dedicated to meeting the world’s energy needs responsibly, efficiently and sustainably. For us, sustainability means manufacturing and delivering affordable, clean products in a safe and environmentally sound manner. Our sustainability efforts are built on four pillars: operational excellence, environmental commitment, social responsibility and economic performance. Our Board of Directors oversees these efforts through its regular work and through its committees, each of which has been delegated responsibility for different areas of sustainability. For more information, see
BOARD’S ROLE IN RISK OVERSIGHT
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We are focused on implementing best-in-class sustainability practices today and into the future. For example, we are conducting research to manage water consumption, improve energy efficiency and provide technology options for future power generation. We also are seeking solutions for tomorrow’s energy needs, from opportunities to blend biofuels into clean products to co-founding forward-looking think tanks, such as the Fuels Institute. Phillips 66 is one of the few energy companies with a state-of-the-art Research Center. We employ scientists and engineers in Bartlesville, Oklahoma, to conduct research to enhance the safety and reliability of our operations and to develop future air, water and energy solutions.
In the fourth quarter of 2017, we published an updated Sustainability Report. The report, which can be found on the Company website under the “Sustainability” section, seeks to provide a comprehensive resource for interested parties to learn about our sustainability policies and programs, with links to a suite of Company information, including policies, positions, educational information, and other reports.
Highlights of results we have delivered and the positive impact we have had on our communities include:
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Our combined total recordable injury rate (TRR) for employees and contractors was 0.14 in 2017, an industry leading achievement and record for the Company.
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Environmental reportable events continued to decline, with a year-over-year decrease of 15%.
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Of our U.S refineries, 45% have earned the U.S. EPA ENERGY STAR
®
award for top quartile energy efficiency performance.
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For strong safety records and safety and health management programs, 28 of our sites have received Voluntary Protection Program certification from the Occupational Safety & Health Administration.
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Our headquarters building in Houston, Texas, obtained Leadership in Energy & Environmental Design (LEED) Platinum certification.
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We have invested an aggregate of over $6 billion in safety, environmental and sustaining capital projects since 2012.
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Since 2012, our employees have donated over 230,000 hours of their time volunteering in local communities.
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To establish and maintain dialogue between the Company, local communities and stakeholders, 90% of our refining operations have community advisory councils or panels.
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Our pipeline business provides comprehensive community awareness, education and outreach programs to ensure that everyone living or working near lines or facilities is aware of their existence, adopts safe digging practices, learns the signs of a potential pipeline leak and knows how to quickly respond if a problem is suspected.
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We published a human rights position, to document our principle of recognizing the dignity, and valuing the worth, of all human beings, as reflected in our core values of safety, honor and commitment.
OUR BOARD OF DIRECTORS
Our business and affairs are overseen by our Board of Directors in accordance with the general corporation law of the State of Delaware and our By-Laws. Members of the Board oversee the Company’s business by participating in Board and committee meetings, reviewing materials provided to them, and through discussions with the Chairman and CEO and with key members of management.