exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
See GRI 405-1 Diversity of governance bodies and employees.
Pay equity (%) 
See GRI 405-2 Ratio of basic salary and remuneration of women to men.
Wage level (%) 
See GRI 2-21 Annual total compensation ratio.
Risk for incidents of child, forced or compulsory labor
See GRI 408 Child Labor and GRI 409 Forced or compulsory labor.
Health and Wellbeing
Health and safety (%)
See 403-6 Promotion of worker health and GRI 403-9 Work-related injuries.
Skills for the Future
Training provided (#,$)
See GRI 404-1 Average hours of training per year per employee.
___       ---------_____________________________________________________________Reporting & Disclosures
__   
    hi DRIVING ACCOUNTABILITY AND BEST-IN-CLASS PERFORMANCE
DOW  I  2023 PROGRESS REPORT  I  194
Pillar 4 – Prosperity: Cor
Keyword: governance
See  GRI 405-1 Diversity of governance bodies and employees.
Economic contribution
2023 Business Summary – Financial Highlights
Economic value generated, distributed and retained
2023 
($MM)
2022
($MM)
2021
($MM)
Net sales
$ 
44,622 $ 
56,902 $ 
54,968 
Operating EBIT1
$ 
2,778 $ 
6,590 $ 
9,533 
Operating costs
$ 
34,232 $ 
43,092 $ 
38,480 
Wages/benefits
$ 
6,034 $ 
5,814 $ 
6,150 
Payments to providers of capital
$ 
2,806 $ 
2,732 $ 
2,863 
Payments to governments2
$ 
2,046 $ 
2,212 $ 
1,207 
Philanthropic/community investments3
$ 
34 $ 
37 $ 
32 
Economic value retained4
$ 
(530) $ 
3,015 $ 
6,236 
Total debt
$ 
15,086 $ 
15,422 $ 
14,672 
Total equity
$ 
19,108 $ 
21,247 $ 
18,739 
Total capitalization
$ 
34,194 $ 
36,669 $ 
33,411 
1 For definitions and reconciliation to
Keyword: governance
Corporate Governance 
Best-in-class governance strengthens accountability and protects the long-term interests of all of Dow’s stakeholders. ESG leadership starts with Dow’s diverse and highly skilled 
Board and well-defined committee structure. The Board actively engages with management in oversight and stewardship of the Company’s strategy, risk management and overall 
performance.
Goal
SDG Target
Material Topic Alignment
SDG Target 16.a: Strengthen relevant national institutions, including through international cooperation, for building 
capacity at all levels, in particular in developing countries, to prevent violence and combat terrorism and crime
Climate & Operational Resilience
SDG Target 17.17: Encourage and promote effective public, public-private and
Keyword: bribe
Emissions (5) fugitive emissions SR-Performance Metrics and bribery throughout the value chain
Discussion of long-term and short-term strategy or plan to manage Scope CCAR, CDP Climate Response, SR-Report Summary, SR- Management of the Discussion of corporate positions related to government regulations and/
EM-EP-110a.3 1 emissions, emissions reduction targets, and an analysis of performance Performance Targets and Progress, SR-Climate Change, Legal & Regulatory EM-EP-530a.1 or policy proposals that address environmental and social factors affecting Form 10-K, Political Activity and Lobbying Report,
against those targets SR-Air Emissions SR-Public Advocacy
the industry
Environment
Air emissions of the following pollutants: (1) NO (excluding NO), (2) SO,
Air Quality EM-EP-120a.1 X 2 X SR-Environment Overvie
Keyword: corruption
Public Advocacy 56 Anti-Corruption Policy
Ethics and Integrity 58 Ethics and Compliance Helpline
Certificate of Incorporation
Bylaws
Privacy Policy
Investor communications
Annual proxy statements
Annual Political Activity and
Lobbying Report
Devon Energy Corporation Political
Action Committee Annual Report
48 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
As we focus on being financially, environmentally and socially responsible, Devon is
Governance Metrics
guided by our core values and corporate governance principles. We sustain the trust
2021 2022 2023
we’ve built with our stakeholders through ethics, integrity and recognized governance
Independent Board Members 73% 73% 91%
As of June
Keyword: corruption
Conduct and Ethics (code) and our Anti-Corruption reports. Center participants include the executive
Policy and Procedures. vice president and general counsel, vice president of
corporate services and associate general counsel, and
Establishing high standards director of HR business partners. The team makes
quarterly reports to the Audit Committee to help identify Ethics and Compliance Helpline metrics
Our code sets out the basic principles for legal and
issues that might need additional monitoring or require
ethical conduct for each Devon director, officer and
ETHICS AND COMPLIANCE HELPLINE
training to raise awareness.
employee, and guides how we fulfill our responsibilities
to each other, business partners, shareholders, 80% 98% 100%
Our vendors and suppliers are obligated to comply
gov
Keyword: corruption
Ethics and Compliance Hotline, Form 10-K, Anti-Corruption Policy, Code of Business Conduct and
GOV-3: Preventing corruption Ethics, Code of Ethics for the Principal Executive Officer-Chief Financial Officer-Chief Accounting SOC-4: Site-based labor practices and Code of Business Conduct and Ethics, SR-Safety & Security Overview, SR-Workforce Safety, SR-Human
Officer, SR-Ethics and Integrity worker accommodation Rights, Statement on Human Rights, SR-Our Employee Experience, SR-Diversity, Equity and Inclusion
Business Ethics and
GOV-4: Transparency of payments
Transparency to host governments Not applicable SOC-5: Workforce diversity and inclusion EEO-1 Report, Form 10-K, SR-Corporate Governance, SR-STEM, SR-Philanthropy, SR-Workforce
Overview, SR-Our Employee Experience, SR-Diversity, Equity and In
Keyword: corruption
EM-EP-110a.1 under emissions-limiting regulations Report Summary, SR-Environment Overview, EM-EP-510a.1 have the 20 lowest rankings in Transparency International’s Corruption Not Applicable
SR-Air Emissions, SR-Performance Metrics Business Ethics & Perception Index
Greenhouse Gas Amount of gross global Scope 1 emissions from: (1) flared hydrocarbons, (2) CCAR, CDP Climate Response, SR-Report Summary, Transparency Description of the management system for prevention of corruption
EM-EP-110a.2 other combustion, (3) process emissions, (4) other vented emissions, and SR-Environment Overview, SR-Air Emissions, EM-EP-510a.2 Anti-Corruption Policy, SR-Ethics and Integrity
Emissions (5) fugitive emissions SR-Performance Metrics and bribery throughout the value chain
Discussion of long-term and short-term strategy or plan to manage Scope CCAR, CDP Climate Response, SR-Report Summary, SR- Management of the Discussion of c
Keyword: tax
taxes, trade, jobs, ESG performance and other issues our access to land, resources, markets and capital. We strive to help stakeholders understand how and community engagement capabilities.
that impact our business. We have a responsibility to As part of our multistakeholder approach, our internal proposed policies impact our day-to-day operations and
advocate for laws and rules that meet business and sustainability, ESG, government relations and other longer-term business prospects, as well as the value We believe the insights we gain and the connections
societal needs, and to consider and communicate the teams are involved in our engagements to help us craft of oil and gas production to governments and society. we make through these organizati
Keyword: governance
@DevonEnergyOverview Environment Safety & Security Governance Social Workforce Reporting
Contents
We’re proud to highlight our efforts to set high
standards as a neighbor, community partner,
environmental steward and employer.
OVERVIEW ENVIRONMENT SAFETY & SECURITY GOVERNANCE SOCIAL WORKFORCE
THE OVERVIEW SECTION INCLUDES THE ENVIRONMENT SECTION INCLUDES THE SAFETY & SECURITY SECTION INCLUDES THE GOVERNANCE SECTION INCLUDES THE SOCIAL SECTION INCLUDES THE WORKFORCE SECTION INCLUDES
About This Report 2 Overview 12 Overview 36 Overview 49 Overview 61 Overview 76
CEO Letter 4 Climate Change 19 Workforce Safety 37 Corporate Governance 50 Community Engagement 62 Our Employee Experience 77
Message from Our Board 6 Air Emissions 21 Cybersecurity 44 Enterprise Risk 54 STEM 65 Diversity, Equity 81
Management
Keyword: governance
1 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
About This Report
Our company
Devon Energy (NYSE: DVN) is pleased to present
our 2024 Sustainability Report highlighting Materiality assessment
our environmental, social and governance This report reflects our commitment to accountability
(ESG) performance and our ongoing efforts and transparent reporting of our ESG progress. It covers
the most material policies, programs and performance
to improve in all these areas. We’re driven to
related to our ESG efforts, as determined in a
deliver industry-leading results while being a
comprehensive materiality assessment completed in
good neighbor, valued and effective community
the second quarter of 2022 to identify the most relevant
partner, responsible environmental st
Keyword: governance
2 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
About This Report
continued
1 2
Identify Prioritize
L ist all potential issues, both existing P rioritize material issues
and emerging D etermine prominence
The assessment process included: Devon evaluated common reporting frameworks,
List input sources within the report
including those of Ipieca, the Task Force on Climate-
G ather company input and indirect
In-depth, one-on-one interviews with Devon’s chief related Financial Disclosures (TCFD), the Sustainability stakeholder input
executive officer, chief operating officer and other Accounting Standards Board (SASB), the United Nations U pdate issues list based on input
executive committee members Sustainable Development Goals (SDG) and the Global
One-on-one int
Keyword: governance
corporate governance/enterprise risk management, water,
The process also included a full-day, in-person workforce safety, cybersecurity, and diversity, equity and
workshop at Devon’s corporate headquarters. inclusion (DEI). Additional topics of reporting interest to
Participants included leaders of Devon’s operations, Devon and our stakeholders include: land conservation/
4
sustainability, environmental, safety, corporate biodiversity, stakeholder engagement, corporate culture/ Disclose
governance, investor relations, human resources, legal, human capital, employee retention, road safety and O utline the process
corporate communications, community relations, driving, emergency preparedness, spill prevention and S et out the material issues
accounting, enterpri
Keyword: governance
3 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
CEO Letter
Solutions for sustainability
At Devon, our commitment to integrating changes, deploying advanced technologies, investing
sustainable business practices into our core strategically and engaging broadly. We’re ready to
Our balanced approach to delivering sustainable
work with partners that share our focus on sustainable
strategy is driven by the understanding that it’s energy the world needs
energy solutions for future generations.
not just beneficial—it’s essential for our future.
With global energy demand projected by some
Devon is committed to continuously improving our
to increase 50% by 2050, the world needs
sustainability performance and reporting our progress
growth from all sources of energy, inc
Keyword: governance
4 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
CEO Letter
continued
In 2023, Devon’s ESG accomplishments included: A major accomplishment in 2023 was implementing our Caring and connected culture Devon is fortunate to have an engaged board that
internally developed carbon accounting platform that Devon strives to hire, develop and retain high- challenges us to take thoughtful risks and bold action.
Progressing all of our environmental targets and improves our emissions data precision and reporting performing people who will contribute to strong We provide opportunities for our board to get to know
priorities for air emissions and recycled water use
methodologies. Thanks to this priority project of our operational, financial and ESG results. We have a up-and-c
Keyword: governance
5 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
Message from Our Board
Devon is delivering strong business results in a responsible way
The Devon board oversees the company’s The board’s GEPP Committee is responsible for With sustainability in mind, Devon is investing in
efforts to be a sustainable enterprise – one overseeing efforts to integrate sustainability into STEM education to develop our future workforce. The
strategic and tactical business activities across company’s productive partnerships with nonprofit
that supplies affordable, accessible, reliable
Devon to create long-term shareholder value. It also organizations and school districts, as well as grants
energy in a way that is safe, environmentally
leads our efforts to nominate qualified individual
Keyword: governance
true to our core values. governance and key functions of the company. They and gas companies and their operational, financial,
also meet with our executive leadership team, other environmental, social and governance performance.
John E. Bethancourt Kelt Kindick
Board Chair Chair of Governance, It is noteworthy that Devon achieved all-time high senior executives and our board chair, starting open, The companies that can meet or exceed these
Environmental and Public oil production in 2023, while reducing the carbon ongoing dialogue that we encourage. expectations, while maintaining stakeholder trust and
Policy Committee
creating shareholder value, will thrive over the coming
intensity of our operations and minimizing freshwater
use in our highest activity area, the Delaware Ba
Keyword: governance
equity grants that reward our workforce for generating Board Chair Chair of Governance,
Environmental and Public
shareholder returns.
Policy Committee
6 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
Report Summary
Performance Targets and Progress Environment Safety & Security Governance
Reduced Scope 1 and Scope 2 location-based Advanced our progress on the asset integrity and Continued substantive board engagement and
Devon’s ambitious environmental performance targets
greenhouse gas (GHG) emissions by 16% and Scope safe work practices elements of our contractor oversight of environmental targets and strategy,
focus on further reducing the carbon intensity of our
1 and Scope 2 location-based GHG emissions management system to align with the Energ
Keyword: governance
7 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
Devon has established aggressive environmental performance targets focused
Performance Targets and Progress
on reducing the carbon intensity of our operations, minimizing freshwater use and
engaging constructively with our value chain. These targets reflect our dedication to
achieving meaningful emissions reductions while pursuing our ultimate goal of net
zero GHG emissions.
Targets 50% 0.5%
REDUCTION IN GHG OR LOWER FLARING
EMISSIONS INTENSITY INTENSITY BY 2025
NET FOR SCOPE 1 & 2 BY 2030
(FROM 2019 BASELINE)
90%
65% ANNUAL
ZERO
ASSESSMENT
ELIMINATE
NON-FRESHWATER USAGE
REDUCTION IN METHANE EMISSIONS FOR COMPLETIONS IN MOST OF DEVON CONTRACTORS
GHG EMISSIONS FOR INTENSITY FOR SCOPE 1 & 2 BY 2030 ROUTINE FLARING
Keyword: governance
8 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
Operations Overview
Operational excellence and EHS
Devon Energy strives for sustainable growth by Our cross-functional EHS Council sets our strategy and
delivering oil and gas from our portfolio of priorities for improving EHS performance, and regularly
Diversified portfolio across U.S. resource plays
communicates plans and progress with our operating
premier assets in a disciplined, capital-efficient
teams. EHS professionals in our field operations support Devon operates premier acreage positions with a We’ve positioned Devon for sustainable growth
and responsible way. We give equal focus to
our teams with timely guidance and effective policies, deep, high-quality inventory of drilling locations. through a disci
Keyword: governance
9 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
Operations Overview
continued
New business opportunities Supply chain improvements
In line with our ambition to provide responsibly produced Operational excellence requires controlling costs,
energy while delivering long-term shareholder value which we’ve accomplished with operating margin
and maintaining stakeholder trust as the world moves improvements, drilling and completions efficiencies,
to a lower-carbon energy system, Devon continues to and improved supply chain efficiencies from our
explore emerging low-carbon opportunities that are enhanced operating scale. One of our supply chain
complementary to our core business. These include improvements is a first-of-its-kind mobile sand mine
geothermal production
Keyword: governance
10 Devon Energy 2024 Sustainability Report OverviewOverview Environment Safety & Security Governance Social Workforce Reporting
Aiming for industry-leading performance
The Environment section of our
2024 Sustainability Report includes: Resource Links:
Overview 12 2023 CDP Climate Response
Climate Change 19 2023 CDP Climate Score
Air Emissions 21 2023 Climate Change
Assessment Report
Water Management 27
Environment, Health and Safety
Land Conservation 29 (EHS) Philosophy
and Biodiversity
EHS protocols for business processes
Waste Management 32
Reclamation Standard
Spill Prevention 33
Basis of Reporting GHG Emissions
Independent Assurance Statement
11 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
Devon is committed to doing what’s right for the enviro
Keyword: governance
their environmental, social and governance (ESG) practices, please refer to our Climate Change driven by the acquisition of RimRock
20.37 19.36 15.44 16.58 15.48 3.79 2.28 1.84 1.72 1.62
performance in key areas. Assessment Report and CDP responses. and Validus, as well as an uptick in
combustion-related emissions.
Since 2019 Since 2019
24% 57%
The United Nations has established 17 Sustainable Development Goals (SDGs). Affordable and Clean Energy Clean Water and Sanitation
They’re part of a globally agreed-upon action plan for organizations seeking page 20 page 28
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
to provide affordable energy, produced responsibly to protect the environment,
while also promoting peace and prosperity for all people. In this report, we have Partnershi
Keyword: governance
12 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
continued
Driving alignment Our vice president of corporate governance, secretary
Taking Action continued Devon has a strong organization to manage and associate general counsel, who also reports to our
environmental performance, from our board of executive vice president and general counsel, leads
AIR continued Implemented our internally developed directors to field-level environmental, health and safety Devon’s efforts to communicate with shareholders
Reduced flared volumes by 83% and carbon accounting platform that improves (EHS) and operations teams. We’ve been bringing to understand their sustainability and ESG-related
flared volume intensity by 82% in 2023 our emissions data precision and reporting
Keyword: governance
WATER Our governance practices and organizational structure are often interrelated with other business and public
2.2% 1.4% 0.9% 0.5% 0.4% Used 83 million barrels of recycled water in elevate EHS oversight and discussions, including those policy risks. In its regular quarterly meetings, as well as
2023, an increase of 15% compared to 2022. related to climate change and the energy transition. The other periodic and special meetings, the board reviews
board’s Governance, Environmental and Public Policy EHS matters brought to its attention and considers
Since 2015, we have reused over 300 (GEPP) Committee reviews policies and performance issues related to ESG strategy planning and risk
Since 2019 million barrels of water from our water relating to our environment
Keyword: governance
went into effect to reestablish biodiversity governance and sustainability. various new operational and technological approaches.
Received the OGMP 2.0 “Gold Standard value consistently across the company
Pathway” for our implementation plan for with the goal of increasing native species The GEPP committee reviews Devon’s advocacy efforts As a component of executive compensation,
enhanced methane emissions reporting. diversity and richness in areas we once and assists with evaluating political, legislative and environmental results included in our corporate goals
disturbed. regulatory developments that could affect the company. are reviewed by the board’s Compensation Committee.
Issued our updated 2023 Climate Change Our vice president of public and government affairs, In addition, at least sev
Keyword: governance
13 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
continued
Operations buy-in The council drives industry-leading environmental At the executive level, Devon’s executive vice president
Devon’s environmental performance targets The EHS Council, made up of Devon business unit and performance by developing environmental goals that and chief operating officer (COO) is accountable for
operations leaders, helps protect our social license are approved by the board as part of our executive our environmental compliance and program execution;
We’re improving how we produce and deliver the oil and to operate and advance our culture of environmental compensation formula. In response to stakeholder emission reduction, mitigation and abatement
natural gas the world n
Keyword: governance
14 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
continued
Collaboration for progress
Our corporate value to build relationships is vital to improving our environmental performance. We engage with a
variety of stakeholders to understand their perspectives on climate change, water use, seismicity, spills and other
environmental issues. Devon teams up with industry trade associations, environmental nonprofit organizations,
academic partners and innovative businesses to develop solutions. We remain committed to listening, collaborating,
increasing transparency and doing our part to protect the environment.
Oil and Gas Methane Partnership 2.0
GTI Veritas
The Environmental Partnership
The New Mexico Produced Water Research Consortium
Stanford Center for Ind
Keyword: governance
15 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
continued
Taking action to measure, report and mitigate methane emissions
Achieving meaningful reductions in methane emissions In 2023, we enhanced our leak detection and repair For example, we’re working to integrate continuous Oil and Gas Methane Partnership 2.0
is a central component of Devon’s broader emissions program by: emissions detection data into our systems and the Devon is a member of the Oil and Gas Methane
reduction strategy. We are taking action to measure, decision support centers that monitor our facilities to Partnership 2.0 (OGMP 2.0), a multistakeholder
report and mitigate methane emissions in a trusted and Surveying 2,781 production and well-pad facilities improve our ability to tren
Keyword: governance
16 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
continued
GTI Veritas
Devon is a founding sponsor of Veritas, a GTI Energy
Methane Emissions Measurement and Verification
Carbon accounting capability prepares Devon for increased regulatory reporting requirements
Initiative. Veritas is the first-ever standardized, science-
based, technology neutral, measurement informed
To continue improving our emissions data precision and reporting methodologies, in 2023 Devon began using an internally developed carbon
approach to calculating and reporting methane
accounting platform for our emissions inventory reporting. The platform enables us to calculate emissions at the facility equipment level instead of at
emissions along the natural gas supply chain from
the t
Keyword: governance
17 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
continued
Environment Performance Metrics1
2021 2022 2023 2021 2022 2023
Direct GHG Emissions (Scope 1) (million tonnes COe)2 3.95✓ 4.59✓ 4.37✓ Water Usage Intensity (Bbl/Boe produced)7 0.42 0.45 0.49
2
By Constituent Water Usage Intensity (million Bbl/well completion)7 0.31 0.32 0.26
Carbon Dioxide (million tonnes COe) 3.44 4.07✓ 3.87✓ Water Recycle Rate (recycled water Bbl/water usage Bbl)8 53% 57% 55%
2
Methane (million tonnes COe) 0.51 0.52✓ 0.50✓ Devon’s total water use for completions activities varies with activity levels, targeted formations and lateral lengths, and includes fresh,
2
non-fresh and recycled water volumes. We seek alternatives to freshwater supplies, where possible.
Nitrous Oxide (
Keyword: governance
18 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Climate Change
A responsible and resilient operator
Devon is focused on producing reliable, At Devon, we’re proud to find and produce these making of Devon’s executive committee and board of
affordable and accessible energy the world valuable commodities and improve our way of life. directors that factors into Devon’s long-range plan. We
Through the work our employees do every day, publicly report on climate-related risks and the results
needs, while continuing to find ways to produce
we contribute to local, state, national and global of our climate-related scenario analysis in our Climate
and deliver it more responsibly.
economies. We also recognize that the economic Change Assessment Report (CCAR) in an effort
Keyword: governance
related risks company’s assets, Devon considered a representative governance practice around climate change risk.
2023 CDP Climate Climate change-related risks receive formal and set of climate projections for a range of climate and Evaluate opportunities to create value in the
Response * ongoing consideration in Devon’s enterprise risk extreme weather hazards related to temperature, transition to ever-cleaner forms of energy with
management process. The company regularly models precipitation, drought and winter storms through the thoughtful capital allocation.
LEARN MORE
numerous regional and macro-level scenarios – late-21st century. The climate projections were based
including acquisitions, divestitures and changes in on scenarios from the Intergovernmental Panel on
regulations and market conditions – to test Cl
Keyword: governance
19 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Climate Change
continued
In addition, Devon retained ClimeCo to enhance the Ambitious emissions reduction targets
company’s alignment to the recommendations of the In 2019, we set a methane intensity target of 0.28% or
Task Force on Climate-Related Financial Disclosure lower by 2025, and then beat the target level in 2020. In
United Nations member states adopted 17
(TCFD), an international, multi-industry led initiative June 2021, we reinforced our commitment to proactively Sustainable Development Goals in 2015.
launched to develop recommendations for voluntary manage climate-related risks and opportunities by Did you know that some 840 million
disclosure of climate-related risk. The 2023 CCAR establishing additi
Keyword: governance
20 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Air Emissions
Targets, technology and transparency
Devon is committed to reducing the carbon
intensity of our operations, evaluating new
Devon’s approach to
opportunities and transparently reporting
reducing air emissions
our results. We’re doing our part to be a
responsible operator for the benefit of the
Set targets to drive
environment, our employees and their families,
continuous performance
our communities, our shareholders and our
improvements
business— today and in the future.
Apply technology and best
Our long-standing commitment to reduce air emissions,
practices to reduce GHG
particularly GHGs, is embedded in our culture through
and methane emissions
our Environment, Health and Safety (EHS) Philosophy
a
Keyword: governance
21 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Air Emissions
continued
How we calculate our GHG and methane emissions intensity rates
We calculate our direct (Scope 1) GHG and methane emissions by We calculate our indirect (location-based Scope 2) GHG emissions for
in close coordination with the vice president for requirements in our operating areas, aided by a including all emissions reported to the EPA pursuant to the Greenhouse electricity consumption using EPA fuel and electricity emissions factors
Gas Reporting Program (GHGRP) for production and gathering and for assets under our operational control.
EHS and measurement, sustainability team and web-enabled database that quickly distributes
boosting assets under our operational control, as well as emissio
Keyword: governance
22 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Air Emissions
continued
To estimate our Scope 3 emissions, Devon relies on Addressing our primary emissions sources
Ipieca’s 2016 guidance document, Estimating Petroleum
Our continuous improvement culture led Devon 2023 GHG Emissions by Source
Third-party verification of GHG
Industry Value Chain (Scope 3) Greenhouse Gas to develop a detailed understanding of where our (Scope 1) (million tonnes COe)
2
emissions data
Emissions. According to this guidance, category 11, “Use
emissions come from. This made it possible to address
of Sold Products,” is generally the largest contributor of
our air emissions at the primary sources through a
67% Combustion
Devon engaged with ERM CVS to conduct Scope 3 emissions for a fuel-
Keyword: governance
23 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Air Emissions
continued
Flaring was once one of Devon’s highest emissions Equipment leaks: Effectively reducing methane
sources, but it is now one of our lowest emissions emissions over time We continue to learn from the LDAR data we collect and
Devon’s best practices for
sources as a result of our commitment to prioritizing Methane emissions detection technologies are evolving then refine best practices in facility design, equipment
reducing flared volumes
flaring reductions and employing best practices. rapidly and are a central component of Devon’s broader improvements and preventive maintenance to further
and minimizing emissions The steep decline started in 2019, when we took a emissions reduction strategy.
Keyword: governance
24 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Air Emissions
continued
Devon has a cross-functional team that evaluates Pneumatic devices: Eliminating natural
gas-driven devices
advanced methane detection technologies that have
the potential to be effective at not only finding leaks As part of Devon’s strategy to reduce our air emissions,
more timely and over broader areas, but also assessing we replaced high-bleed natural gas pneumatic
the magnitude of the leaks, allowing for faster detection, controllers on hundreds of well sites in Wyoming,
mitigation and quantification. We have investigated Oklahoma, New Mexico and Texas, and we no longer
opportunities for advanced OGI, continuous onsite use them on new wells. In the Delaware Basin, legacy
monitoring and
Keyword: governance
25 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Air Emissions
continued
In the Delaware Basin, we’re piloting an effort to Storage tanks: Lowering venting and flaring
supplement highly dynamic power demand by bringing To reduce venting and flaring from oil and condensate
emissions-reducing renewable energy and battery storage tanks, we install vapor recovery towers (VRT) to
storage into our power supply. This effort involves maximize gas recovery and minimize the volume of tank
integrating a behind-the-meter 5-megawatt solar array vapors that need to be flared.
into our operations near the Texas-New Mexico state
line area. The array will produce power that displaces Devon standardized a low-emission storage tank design
electricity that would have been purchase
Keyword: governance
26 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Water Management
Conserve, reuse and recycle
Water is an essential resource for the Local approach to water management
health, social and economic well-being of Water supplies are limited in some of Devon’s operating
Recyled Water Usage
our communities, as well as for Devon’s areas. We conserve, reuse and recycle as much water (million Bbl)
operations. To be a good neighbor and an as we can to mitigate the physical risks of water stress.
environmentally sound operator, Devon is 1 3 6 22 34 37 61 72 83
We consider water availability and disposal options
committed to conserving freshwater and >300
in our enterprise risk management process and in
reusing water in our operations.
our daily planning, along with other
Keyword: governance
27 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Water Management
continued
Devon uses freshwater in the Delaware Basin only Impoundment basins we built in the Delaware Basin to
for blending and only when we don’t have sufficient Total Water Usage by Operating Area store reusable water are integral to our operations and to
sources of recycled and brackish water. (million Bbl) saving water. The basins are connected by a local pipeline
network that reduces the need to haul water away by United Nations member states adopted 17
Sustainable Development Goals in 2015.
Companywide, Devon’s total water consumption 2021 2022 2023 truck. Taking water trucks off the road has the added
Devon recognizes the importance of
increased to 150 million barrels in 2023, up 16% from
Keyword: governance
28 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Land Conservation and Biodiversity
Preserving our shared landscapes
Devon is committed to leaving our work locations
in the same or better condition than we found
Devon complies with significant Reclamation success criteria
them by being good stewards of the land, wildlife
federal laws, rules and
and habitat. To protect biodiversity, we work to
regulations minimize our operational footprint and impacts For a Devon location to be considered reclaimed, it must meet our minimum success criteria, including:
to the landscape, wildlife and their habitats, and
Preparing each location to facilitate native species seeding and limit erosion and sedimentation.
cultural and historical resources. We believe
National Environme
Keyword: governance
29 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Land Conservation and Biodiversity
continued
Assessing potential impacts up front Devon complies with federal and state laws, tribal
Devon’s Pre-Construction Environmental Protocol rights of way, and other requirements. We work to
requires us to identify potential biodiversity issues up meet all rules and regulations required to complete
Restoring a sensitive habitat in North Dakota
front for all surface activity across all of our business the permitting processes for disturbances. We also
units. Biodiversity management is integrated into work directly with private landowners to address their
Our efforts to restore habitat for the Dakota skipper at Lake Ilo, North Dakota, is an example of Devon’s
our process for
Keyword: governance
30 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Land Conservation and Biodiversity
continued
Collaborative conservation efforts Working on indigenous lands
Protecting the land involves building relationships with Nearly all of our operations in North Dakota’s Williston
landowners, neighbors, industry groups, and state Basin are located on the Fort Berthold Indian Reservation
and federal agencies such as the U.S. Bureau of Land that is home to the Mandan, Hidatsa and Arikara (MHA)
Management (BLM). For example, we worked with Nation, also known as the Three Affiliated Tribes.
United Nations member states adopted 17
Sustainable Development Goals in 2015. Cooks Branch Conservancy in Montgomery County,
Oil and gas development inherently Texas, to waive our surface
Keyword: governance
31 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Waste Management
Responsible handling and disposal
Being an environmentally sound company Oil and gas operations sometimes encounter waste
requires responsibly handling the waste containing naturally occurring radioactive material
(NORM). Devon’s NORM protocol helps us manage
generated in our operations and offices.
the material responsibly and within regulatory
All Devon employees and contractors are
requirements. The protocol establishes conditions
responsible for managing waste, and we
to address health and safety considerations of our
encourage them to minimize the waste they
employees, contractors and the environment, including
create, and reuse and recycle materials
guidelines to reduce potential exposure t
Keyword: governance
32 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Spill Prevention
Comprehensive approach to protecting the land
Each year, Devon handles millions of barrels of Devon uses appropriate tools and techniques to
fluids. Keeping oil, produced water, recycled minimize and contain discharges from our equipment
Remote monitoring is enhancing
and facilities. Our spill prevention measures at facilities
water and other materials properly contained is
with storage tanks include secondary containment, environmental performance
a guiding principle of our EHS Philosophy. We
“nearly full” alarms on tanks and offsite monitoring
take a comprehensive approach to preventing,
equipment that can shut in facilities remotely. Remote surveillance capabilities that we
responding to and r
Keyword: governance
33 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
Spill Prevention
continued
Measuring performance
Devon has a robust EHS incident management system
for reporting and tracking spills. We require reporting
of unintentional releases of oil, produced water,
chemicals and any other material associated with
our operations. Spills and near misses are tracked by
the total company and business unit, which enables
business units to analyze their spill performance and
find ways to improve.
Devon’s lost-spill rate is based on the volumes of
produced oil, produced water and recycled water
handled in our operations. We believe that measuring
our spill rate based on the total amount of fluids we
manage in our operations gives us the best view of our
performance and allows us
Keyword: governance
34 Devon Energy 2024 Sustainability Report EnvironmentOverview Environment Safety & Security Governance Social Workforce Reporting
SAFETY
& SECURITY
Committed to exemplary performance
The Safety & Security section of our
2024 Sustainability Report includes: Resource Links:
Overview 36 Environment, Health and Safety
(EHS) Philosophy
Workforce Safety 37
Contractor safety requirements
Cybersecurity 44
Safety Data Sheets (SDS)
Emergency Preparedness 46
Emergency Preparedness Protocol
35 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
It’s our responsibility as an employer to provide a safe and healthy workplace for our
Taking Action
employees and contractors. But it goes deeper than that at Devon. We care about our
employees, their families and our com
Keyword: governance
munities, and we believe their safety and health is SAFETY GOVERNANCE
Advanced our progress on the asset integrity and safe
as integral to our success as operational excellence.
work practices elements of our EHS Management System
to further align with API Energy Excellence elements.
We prepare our people to work safely with comprehensive orientation and training, on-the-job guidance and
tools, safety engagements, recognition and other resources. Employees and contractors are accountable EMERGENCY PREPAREDNESS
for stopping at-risk work, immediately reporting incidents and near-miss events, and informing visitors of In 2023, approximately 1,000 Devon employees
emergency alarms and evacuation plans. Devon uses proven best practices, technologies, tools and materials received training in cardiopulmonary resusci
Keyword: governance
36 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Workforce Safety
Strengthening our culture and relationships
Every leader, employee and contractor at Devon senior leaders oversee safety policy and
Devon is expected to actively participate in performance, with support from the EHS Council.
EHS Management System
In turn, our workforce is empowered to take the
making Devon a safe place to work. Our values
necessary time and actions to perform work safely and
guide us to do what’s right, manage risk,
Our EHS Management System, developed by the EHS Council, guides us in identifying concrete steps and
stop work if they see a safety risk.
stop work, and support and empower each effective programs to continuously improve in 14 key elements of performance:
other to sta
Keyword: governance
Environmental, Social and Governance Environmental Management
goals and incorporating safety metrics into our
implementation and tracks the company’s safety
Hazard Analysis and Risk Management Records and Documentation
compensation focuses everyone at Devon on
performance. The council meets regularly to monitor
Training and Competency Safe Work Practices
the actions that will make us safer. performance, share lessons learned and engage in
Goals and Objectives EHS Management System Review
roundtable discussions to keep the organization updated
We’re committed to integrating the guiding principles in on stakeholder expectations for EHS performance.
EHS Management System Review
our Environmental, Health and Safety (EHS) Philosophy
As a member of API, we support its program commi
Keyword: governance
Our governance structure supports Devon’s protocol to provide additional transparency on contractor engage with peer companies in our operating basins Alliance (OSA), a voluntary industry coalition committed
commitment to making safety our top priority. The performance and compliance with our requirements. We to improve company and industry performance in to reducing SIFs in U.S. onshore oil and natural gas
Governance, Environmental and Public Policy (GEPP) plan to continue maturing our contractor management safety, public policy, the environment and other key operations.
Committee of our board of directors reviews our protocol in 2024 to identify and work with contractors areas. Devon is a member of the AXPC Health and
safety policies and performance an
Keyword: governance
37 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Workforce Safety
continued
Building on our positive EHS culture To foster our positive EHS culture and behaviors, our Safe eligible, and awards are presented at monthly safety good stops by our contractors each month across all our
Encouraging a strong EHS culture at Devon is a priority Work Award Program (SWAP) recognizes and rewards meetings. Additional awards are given on a quarterly operating areas. In 2023, 168 employees received SWAP
for the EHS Council and the broader organization. proactive reporting of workplace hazards and instances basis for the ‘best of the best.’ Good environmental monetary awards and 211 contractors were recognized
We believe that the care and concern we show our where work was stop
Keyword: governance
38 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Workforce Safety
continued
Engaging our workforce
Our Hearts & Minds workshops have been a core
Engaging our Spanish-
element of our safety engagement efforts with service,
rig and contract drilling crews and leaders across Devon speaking contractors
since 2014. During the workshops, we share our safety
culture and approach to effective communication, It’s estimated that potentially 140,000 workers
continuous improvement, integrity and situational in our industry in Texas, New Mexico and
awareness to reduce safety risk. Oklahoma speak a language other than English
at home.* To engage workers on our locations
who speak English as a second language,
We adapt the content to meet the needs of our
our operations team
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39 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Workforce Safety
continued
RREESSPPOONNSSIIBBIILLIITTYY
Stop Work Responsibility needed documentation. In addition, we use a separate
TO Proactively managing safety risks is a key factor in third-party service to monitor contractors’ compliance
maintaining safe working conditions. Starting with with our drug and alcohol policy.
new-hire safety orientation and continuing on our work
sites, we emphasize the importance of Stop Work We require contractors to perform high-quality, safe
1-844-310-3439
Responsibility. Employees have the right, responsibility and environmentally sound work. Contractors are
We back up our pledge to support anyone who and obligation to speak up and stop any action, task or expected to prov
Keyword: governance
40 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Workforce Safety
continued
Leadership engagements in the field can have a
Because We Care
positive impact on our workforce, safety performance
United Nations member states adopted 17
and operational excellence. Our field personnel
Sustainable Development Goals in 2015.
Life Saving Rules are essential to safety management and our safety culture at Devon. To keep them front and
wear hard hat stickers that say “Ask me my reason Devon works to promote a safe
center, our Because We Care initiative reminds employees and contractors to meet extra conditions for work.
for working safely” to encourage safety-related and secure working environment
Because We Care works in tandem with convenient access to mental health reso