Amid this year’s energy industry pressures, Marathon Oil Corporation’s board and management have not been distracted from the Company’s longstanding central tenet, “Living Our Values.”
We trust these principles, outlined in this online report and the companion brochure, are not merely an advocacy platform for Marathon Oil’s license to operate. The objectives, standards of accountability and concrete actions embody the manner in which our people around the world undertake their daily responsibilities.
Admittedly, Marathon Oil’s management is challenged by the prolonged market downturn and ever-increasing demands of exploration and production operations. Yet every Marathon Oil employee continues to seek not only improved financial and nonfinancial results and to control risks, but also to demonstrate their fundamental commitment to sustainability.
We believe that this underlying motivation will yield significant benefits to our stakeholders and fellow workers, the industry more broadly and the communities where we operate.
Wherever one stands in the debate on global climate change, there is broad and reasoned consensus on the value of sustainability. And that is reflected in the continued increase in our transparency on environmental performance, detailing water and waste management, spills and releases and – particularly – air emissions.
In addition to improving processes to enhance sustainability, management – while preparing for the return to higher activity levels – is taking the current environment as an opportunity to strengthen compliance, workforce training and risk management.
This report – conforming with the common framework of the petroleum industry’s corporate sustainability reporting – summarizes Marathon Oil’s record and progress on these specific matters, as well as aspects of governance and our interactions with government authorities and the broader public. We invite your review of how Marathon Oil’s board and management, in the interests of sustainability as well as financial results, are dealing with the environmental, social, political and workplace issues of our business, both recurring and new.
We acknowledge that our shareholders properly focus on how the Company is optimizing our economic value. Marathon Oil’s board shares that objective. But we trust there is a common understanding of how stewardship, citizenship and sustainability are irrevocably intertwined with our financial performance.
We hope this report’s specificity and commitments inform your evaluation of our achievements and further ambitions. Your comments on our progress and suggestions as to how these efforts may be further invigorated are most welcome.
Chairman, HES&CR Committee
Marathon Oil Corporation Board of Directors