Social Impact Investment
Our Social Investment Strategy, described in more detail in the visual below and a key part of our Community Engagement Strategy, is tailored to the needs of each community. It is also aligned with our internal business priorities and the United Nations Sustainable Development Goals. We seek to improve the quality of life in the communities in which we work through financial contributions, advisory services, pro bono work and in-kind donations. We encourage employees to join us through matching programs, volunteer events and our annual giving campaigns. As our Employee Resource Groups (ERGs) develop, one of their core tenets is finding volunteer opportunities that align with the causes that are most meaningful to them. For example, our Black Employees and Allies of Marathon (BEAM) ERG engaged with Black Girls Do Engineer. You can find more details about this partnership and others led by our ERGs here.
Our executive vice president and general counsel is responsible for our governance, stakeholder engagement efforts and social investments. The Health, Environmental, Safety and Corporate Responsibility (HES&CR) Committee of our board of directors provides oversight of our social responsibility and sustainability efforts and meets twice a year. Once a year our full board receives an update on our social investments.
Corporate Giving and Matching
In 2022, we invested $11.4 million in global social projects and programs, including $1 million in corporate giving, $200,000 in employee giving and $10.2 million in investments in Equatorial Guinea. Marathon Oil offers employees giving incentives to further their impact, such as a 1:1 donation match with no cap to select organizations that we support as a company. We also match up to $10,000 in donations for U.S. universities.
- ᵃ Total Giving: $1 million in corporate giving and $200,000 in employee giving; Total Sustainable Investments: $10.2 million in Equatorial Guinea.
- ᵇ In 2022, Marathon Oil made donations to the following organizations for Ukraine humanitarian relief, which are not included in our social investment total: $3 million to World Central Kitchen and $2 million to the Center for Disaster Philanthropy.
Measuring Social Investments
We review our social investments annually, assessing both our partnerships and impact. This includes reviewing the financial and operational performance of potential and current partners, evaluating their missions and values to confirm alignment with one or more of our investment areas and requiring partners to report clearly defined program goals. Nonprofit partners must also fill out impact reports, providing details and data on project outcomes using our Social Investment Evaluation Rubric. This helps us more easily assess progress towards the intended goals and determines the efficiency and effectiveness of our giving.
Providing Humanitarian Relief to Ukraine
In 2022, we donated $5 million to support humanitarian relief efforts in Ukraine. In response to the crisis, we provided $3 million to World Central Kitchen, which is serving thousands of fresh meals to Ukrainian families both fleeing home and remaining in the country. We also contributed $2 million to the Center for Disaster Philanthropy, which is providing education, food, health, shelter, water, sanitation and more to the most vulnerable Ukrainians.
“World Central Kitchen is first to the frontlines, providing meals to communities in crisis. Over a year after our work began in Ukraine, we continue to focus on vulnerable communities and those on the frontlines, by way of hot meals or bulk food distribution, often in newly liberated cities.
“We are so grateful for support from organizations like Marathon Oil, whose belief in our mission helps us provide millions of meals to people who need it most.” – Erin Gore, CEO, World Central Kitchen.
Building Strong Communities
We believe the foundation of a strong community is a quality education system. We invest in inclusive and equitable education that has the power to improve lives and communities.
Keeping our Communities Healthy and Safe
We invest in creating healthy and safe communities by addressing stressors in the communities where we operate that pertain to road safety, human trafficking, healthcare and other issues.
Fostering Resilient Communities
We work to create more resilient communities by investing in the protection and restoration of natural resources, including water, land and air, as well as increasing environmental education and awareness.
How are we doing?
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