understanding our impactMarathon Oil acts to create enduring value for our shareholders, our employees and our communities. To be sustainable, we believe that a business must deliver strong operational and financial performance, as well as address its responsibilities for the environment, society, governance (ESG) and its workforce.
To understand how we can address our stakeholders’ critical needs, we look beyond our office walls and operational facilities, and consider the effects of our decisions, actions and operations.
Operating in a sustainable manner is a collaborative effort involving our employees, managers and board. It’s informed by engagements with our investor, community, nonprofit, government and industry stakeholders. At the board level, the Health, Environmental, Safety and Corporate Responsibility (HES&CR) Committee assists the full board by identifying, evaluating and monitoring trends, issues, practices and concerns related to climate change; HES public policy; legislation; regulations; political, charitable and educational contributions; and other matters. As part of the Enterprise Risk Management process, the HES&CR Committee updates board members on compliance, regulatory, sovereign, HES&S and climate change risks.
As part of our efforts to address risks related to climate change, our cross-functional Sustainability Forum evaluates projects proposed by operations and HES staff to reduce GHG emissions. The forum makes recommendations to Marathon Oil’s senior leadership team on projects with the potential to reduce emissions and climate-related risk.
Marathon Oil’s values – to collaborate, take ownership, be bold and deliver results – underpin our efforts to build a sustainable business. Our Corporate Sustainability Guidelines outline how we demonstrate our commitment to ESG and economic sustainability in the communities where we operate. Marathon Oil employees are expected to incorporate ESG processes and activities such as stakeholder engagement and capacity building when conducting our business. The guidelines work in concert with our Responsible Operations Management System (ROMS), which helps us make our operations safer, cleaner and more efficient.
Interconnecting Sustainability Issues
This figure, which was adapted from IPIECA, provides an overview of how Marathon Oil organizes and communicates our ESG performance within this report.
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