About this Report
We seek to further the environmental, social and governance (ESG) progress of our business and the sustainability of the communities where we live and work. This Marathon Oil 2018 Sustainability Report demonstrates our accountability for addressing challenges and risks affecting our business.
In this report, we provide information about our nonfinancial and financial performance, supported by quantitative metrics and qualitative examples. We’ve designed it to be a one-stop resource providing accurate information for a wide range of stakeholders, including ESG rating and ranking services, which we believe is consistent with our strategy to be the lowest-cost, highest-margin independent exploration and production company.
We select ESG performance indicators using the Oil & Gas Industry Guidance on Voluntary Sustainability Reporting. This joint publication of IPIECA, the American Petroleum Institute (API) and the International Association of Oil & Gas Producers (IOGP) provides a reporting framework for the petroleum industry. Our approach is informed by the Global Reporting Initiative (GRI) Standard.
All information and performance data in this report relate to Marathon Oil operations, unless otherwise stated. We include certain information on non-operated assets, such as Equatorial Guinea LNG Holdings Limited (EG LNG).
This report was reviewed by Marathon Oil subject-matter experts, legal and accounting staff, executives, the board of directors and a third-party ESG consultant. The financial highlights were excerpted from the 2018 Annual Report on Form 10-K filed with the SEC.
What We Report On
We identified risks and opportunities to include in this report by considering new and emerging issues, regulations, and standards and practices. Information included in this report was determined based on a review of risks and issues identified during our Enterprise Risk Management process and in discussions with Marathon Oil managers and subject-matter experts; investors; business partners, industry associations and nongovernmental organizations; and nonprofit and community partners. We also benchmarked reporting practices of peer companies, and reviewed investment reports and media coverage.
Based on shareholder feedback, Marathon Oil will publish a report on how we assess and manage the potential risks of climate change to our business. We expect to release the report by year-end 2019.
How are we doing?
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If you’d like to give us your feedback on the complete report in full, please fill out the complete survey for the 2018 report.