Our Board of Directors’ oversight includes the assessment of risks to our business and the measures taken to minimize and manage such risks, including in the areas of environmental stewardship, scenario analysis and planning, social responsibility, cyber-security and economic growth.
The Environmental, Social and Governance Committee (ESG Committee) of our Board of Directors is charged with oversight of climate-related issues. The ESG Committee reviews and assesses the effectiveness of the company’s ESG initiatives, and monitors, responds to, and makes recommendations regarding ESG-related trends and emerging issues, including climate-related risks and opportunities.
The ESG Committee periodically reviews the company’s status with respect to federal, state, and local regulations for air emissions, water, wildlife, spill reporting, safety, and general operations. The ESG Committee regularly reviews ESG-related disclosure practices within the industry and more broadly, peer benchmarking of ESG metrics, and changing technologies and practices that have the potential to improve the company’s overall ESG strategy and performance.
In addition to the ESG Committee, our CEO, who is a member of the Board of Directors, is a member of our Management ESG Committee and directs management’s efforts and responsibilities for climate related issues. This multidisciplinary committee meets regularly and works closely to identify, monitor, and evaluate environmental-related policy, regulatory, and legislative developments. The committee reports on current ESG risks and opportunities, makes recommendations to the Board of Directors on policies, programs, and initiatives necessary to achieve company’s ESG targets and goals, and monitors company performance towards achieving ESG goals and targets.