Phillips 66 Releases 2020 Sustainability Report
June 11 2020 - 2:00PM
Business Wire
Phillips 66 (NYSE: PSX) has published its 2020 Sustainability
Report titled “Greater Good,” making it digitally available to
employees, communities and investors at
www.phillips66.com/Sustainability.
This year’s report builds on the company’s previous disclosures,
proactively sharing Phillips 66’s 2019 performance across its four
sustainability focus areas of operating excellence, environmental
stewardship, social responsibility and financial performance.
“The employees of Phillips 66 work hard to provide energy and
improve lives,” said Greg Garland, Phillips 66 Chairman and Chief
Executive Officer. “We manufacture, transport and sell products
that help meet the world’s growing need for energy, and do so in a
safe and environmentally responsible manner. Our 2020
Sustainability Report is a chronicle of our recent achievements and
opportunities and demonstrates our values of safety, honor and
commitment. These values guide all that we do, including our
approach to sustainability, as we strive for continued improvement
and transparency while positioning Phillips 66 to deliver long-term
value for all of our stakeholders.”
The report now includes a chapter on climate change and a Task
Force for Climate-related Financial Disclosures (TCFD) analysis.
“Greater Good” uses the Sustainability Accounting Standards Board
(SASB) issue categories for the midstream and refining and
marketing industries and adds a SASB content index for easy
reference. Also new this year are expanded metrics and stories that
show how Phillips 66 employees work for the greater good. Across
Phillips 66’s sustainability focus areas, the report includes:
- Operating Excellence: Phillips 66 consistently achieves
industry leading safety performance. The American Fuel and
Petrochemical Manufacturers Association recently awarded five of
its nine total Distinguished Safety Awards to Phillips 66 operated
refineries for 2019 performance.
- Environmental Stewardship: “Greater Good” features expanded
data reporting from prior reports, including additional water and
energy usage metrics and expanded coverage of our biodiversity and
conservation programs.
- Social Responsibility: Phillips 66 was recognized by Forbes as
one of “America’s Best Employers” in 2019. Almost half of our
employees have been with the company since its start, and
approximately 30% have more than 15 years industry experience.
Additionally, included case studies highlight our external
relationships and engagement.
- Financial Performance: Phillips 66 delivered earnings of $3.1
billion in 2019 and returned $3.2 billion to shareholders through
dividends and share repurchases.
About Phillips 66 Phillips 66 is a diversified energy
manufacturing and logistics company. With a portfolio of Midstream,
Chemicals, Refining, and Marketing and Specialties businesses, the
company processes, transports, stores and markets fuels and
products globally. Phillips 66 Partners, the company's master
limited partnership, is integral to the portfolio. Headquartered in
Houston, the company has 14,600 employees committed to safety and
operating excellence. Phillips 66 had $53 billion of assets as of
March 31, 2020. For more information, visit
http://www.phillips66.com or follow us on Twitter
@Phillips66Co.
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version on businesswire.com: https://www.businesswire.com/news/home/20200611005779/en/
Jeff Dietert (investors) 832-765-2297 Jeff.dietert@p66.com
Brent Shaw (investors) 832-765-2297 Brent.D.Shaw@p66.com
Melissa Ory (media) 855-841-2368 Melissa.R.Ory@p66.com
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