exo-is/governance-reporting-on-listed-companies huggingface dataset:
Keyword: governance
41 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Workforce Safety
continued
Auditing field and process compliance
Audits to identify and correct safety concerns are
Rig fleet safety audits
an element of Devon’s EHS Management System.
Each business unit is required to perform an annual
To help us provide safe workplaces, Devon engages
safety self-audit of compliance with regulations and
a well-respected third party to audit our rig fleet.
our EHS protocols. Findings of noncompliance and
The thorough process inspects over 700 line items
suggestions for improvement are recorded in our
in every area of each rig and the equipment used
Incident Management System (IMS) and tracked to
daily to safely drill wells. We strive to audit new rigs
closure. Business unit EHS p
Keyword: governance
42 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Workforce Safety
continued
Committed to improvement We also review SIFs where no one was injured (potential
Devon sets annual corporate safety goals to focus our or near miss) and industry SIFs to better understand
efforts to improve performance. Our emphasis is on trends, mitigations and best practices. As a founding
preventing serious injuries and fatalities (SIFs) so our participant in the Onshore Safety Alliance (OSA), Devon
employees and contractors can return home safely committed to support the OSA guiding principles,
every day. industry sharing and learning, and to carry out a Life
Saving Actions program, risk assessments, incident
We did not meet our safety performance goals in 2023, investigations and o
Keyword: governance
43 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Cybersecurity
Protecting our information systems and technology
To mitigate cybersecurity risk, we: With global cybersecurity threats and Devon’s We provide regular quarterly updates to the board’s Devon employs a highly qualified
digital technology use both increasing, we focus Audit Committee regarding our information security digital security team
program. These updates cover a variety of topics,
on protecting our networks, systems and the
significant amount of data we use to run our including our major cybersecurity plans and initiatives, +
Align our corporate information
benchmarking assessments and current events that
security policy and program business. Devon invests in advanced tools and 145
could impact
Keyword: governance
44 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Cybersecurity
continued
Devon develops our own patented technologies, deploys Devon assesses our internal controls, considers
mobile apps in the field, and commercializes and scales federal government recommendations and takes
technology solutions in partnership with innovators. other precautions, while enabling employees to work
As part of its role to protect data and technology efficiently and effectively from any location. Through
appropriately, our digital security team evaluates ongoing efforts to educate employees to recognize
technologies that we build, buy and deploy, and increasingly sophisticated threats like malware,
recommends safeguards to the business owners. The ransomware and phishing attempts, we
Keyword: governance
45 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Emergency Preparedness
Ready to respond
Devon prioritizes life safety and business We conducted incident management team (IMT)
continuity when incidents occur that could training and a functional exercise with field personnel
and business unit leaders in each of our five business Life safety skills
impact our employees, our assets, our
units. Community first responders joined the exercises enhance capabilities
business and the environment. We dedicate
in South Texas and the mid-continent, helping to build
resources to emergency preparedness and
relationships with our partners. The exercises highlighted Life safety is a top priority for Devon, in the
follow nationally recognized standards for
the value of the ICS
Keyword: governance
46 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Emergency Preparedness
continued
Continuous improvement Natural Gas Subsector Coordinating Council, part of the
Our emergency management and field teams Cybersecurity and Infrastructure Security Agency (CISA)
responded to operational and weather incidents, wildfires Critical Infrastructure Cross-Sector Council. The council
in Oklahoma and other emergencies during 2023. comprises 16 critical infrastructure industries, including
energy, transportation, and food and agriculture, that
After every exercise and actual response, we document coordinate the private sector’s cooperative efforts to
areas for improvement, best practices and strengths. advance its critical infrastructure security, protection and
As part of ou
Keyword: governance
47 Devon Energy 2024 Sustainability Report Safety & SecurityOverview Environment Safety & Security Governance Social Workforce Reporting
Integrity, accountability and disclosure
The Governance section of our
2024 Sustainability Report includes: Resource Links:
Overview 49 Corporate Governance Guidelines
Corporate Governance 50 Code of Business Conduct and Ethics
Enterprise Risk Management 54 Code of Ethics for the Chief Executive
Officer, Chief Financial Officer and
Shareholder Engagement 55 Principal Accounting Officer
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 Sust
Keyword: governance
ainability 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 2024, ten of our 11 board members (91%) qualify as independent
practices such as proactive shareholder engagement and purposeful risk management. under NYSE standards and SEC regulations.
Women Board Members 27% 27% 36%
As of June 2024, four women (36%) serve on our board of directors, including
the chair of Devon’s Audit Committee.
To deliver results, we focus on operatio
Keyword: governance
top-tier environmental, social and governance opportunities to continuously improve our ESG
With the increased scale of the company following the Devon WPX merger,
(ESG) performance, and constructive stakeholder performance and transparency. Our ESG and Devon’s trade association dues increased.
engagement. We integrate our environmental, health sustainability leaders play an active role by informing Lobbying - Federal and State (thousands) $433 $751 $802
Devon’s lobbying and political activity is disclosed via public agencies, as well as
and safety (EHS) commitment into our operations management on current and emerging issues that
through the company’s Political Activity and Lobbying Report available on our website.
and incorporate ESG performance goals into our influence business pla
Keyword: governance
CORPORATE GOVERNANCE ETHICS AND INTEGRITY STRATEGIC FOCUS ON EMISSIONS The United Nations has established 17
C ontinued substantive board engagement R eported to the board’s Audit Committee on our Companywide goals for 2023 included a standalone
Sustainable Development Goals (SDGs).
They’re part of a globally agreed-upon
and oversight of environmental targets and ethics program on a quarterly basis, including emissions goal, which the company exceeded
action plan for organizations seeking
strategy, diversity, equity and inclusion (DEI), the substance of any ethics allegations and by delivering improvements in greenhouse gas to provide affordable energy, produced
and other ESG matters. actions taken in response. emissions intensity and methane emissions respons
Keyword: governance
in the governance section, look for:
performance through quantifiable metrics
policy makers, diverse stakeholders and thought Published our 2023 Climate Change Assessment
and significant weighting for those metrics in
leaders to broaden our perspectives on key Report, which is consistent with the core Climate Action
grading our overall performance for the year. page 54
public policy issues. elements of the Task Force on Climate-related
We also provided additional transparency on
Financial Disclosures (TCFD) framework.
our corporate goals for executive and company-
wide performance by prospectively publishing
Published our 2023 Political Activity and Lobbying
our goals for the year.
Report and this 2024 Sustainability Report
as we further advanced our commit
Keyword: governance
49 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Corporate Governance
Principles-based oversight
Devon recognizes that strong corporate Our board has a practice of separating the board chair
governance practices are necessary to and CEO roles. If our board chair is not independent, Director committee assignments
maintain our social license to operate. We our board appoints a lead director who has duties, As of July 2024
responsibilities and rights to assure high-quality Audit Compensation Governance, Environmental Reserves
strive to establish a foundation for effective C | Chair M | Member Committee Committee and Public Policy Committee Committee
corporate governance. With the retirement of our
decision-making and risk management as
Non-Management Directors
exe
Keyword: governance
We’ve developed an effective corporate governance open, substantive communications among directors Kelt Kindick M C
framework that evolves with our business. Forward- and between directors and management. Providing John Krenicki Jr. M M
looking principles and practices guide our board of regular feedback, encouraging different viewpoints to Karl F. Kurz M M C
directors, executive management be expressed and setting an expectation of constructive Michael Mears M M
and workforce in making a positive and sustainable
candor are hallmarks of our desire for frank and Robert A. Mosbacher Jr. C M
impact. Our Corporate Governance Guidelines support
thoughtful board discussions. Valerie M. Williams C M
the long-term interests of the company and our
Management Director
stakeholders by focusing on ce
Keyword: governance
effective governance of the company. The guidelines
of the company, which includes reviewing whether
cover board composition, policies, procedures and
Devon’s risk management is appropriate in relation to Charters
committees. They also provide direction for the
Devon’s material risks. Specific areas of risk oversight
recruitment, selection, responsibilities, compensation
have been delegated to four standing committees: Audit Committee Charter Governance, Environmental Reserves Committee Charter
and evaluation of individual directors. The guidelines are Audit, Compensation, Reserves, and Governance, The Audit Committee assists the & Public Policy Committee The Reserves Committee provides
updated from time-to-time to reflect the evolving needs board in ensuring
Keyword: governance
independent, as required in our Corporate Governance
legal and regulatory requirements, oversees the company’s corporate reporting system, compliance,
High-quality corporate governance requires that our
Guidelines, and the members of the Reserves and performance of internal and governance; reviews Devon’s regulatory requirements and
board include members with an appropriate mix of skills Committee are independent as well. Each committee external audit functions. EHS efforts, social responsibility related disclosures.
and experience to oversee our business. In addition, programs and stakeholder
reviews various aspects of Devon’s ESG activities, metrics
we seek a high number of directors who qualify as Compensation Committee engagement; advises the board on Dividend Committee Charter
and repor
Keyword: governance
50 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Corporate Governance
continued
Comprehensive discussions into relevant matters, In 2023, the GEPP Committee’s activities included: Board and Committee Evaluations
including Devon’s business, operations, EHS and ESG The board’s annual review process evaluates the effectiveness and performance of the board, the chair, the lead
strategies, are part of our board meetings. The board Reviewing Devon’s performance on key director (if applicable) and board committees. The evaluations are reviewed and discussed by the GEPP Committee,
environmental metrics, including Scope 1 and
often invites subject matter experts, external speakers, which also annually considers how to maximize the effectiveness of the process. The full
Keyword: governance
responsibility for corporate governance, which Discussing the contents of Devon’s 2023
Sustainability Report with management before
includes identifying, reviewing and recommending the
Through the evaluation processes, feedback has been provided on a range of topics, including:
publication
nomination of qualified candidates to Devon’s board.
The committee’s scope also includes reviewing EHS Reviewing and discussing Devon’s diversity,
board and management succession planning;
performance and efforts to integrate sustainability equity and inclusion (DEI) metrics, and strategy
for improving our workforce. This included two agendas and materials for board meetings;
into Devon’s business and activities. GEPP Committee
members regularly hear from Devon leaders and
meetings with the Co
Keyword: governance
subject matter experts on corporate governance the cadence and substance of discussions of Devon’s strategy, including the consideration of low-carbon
continued belief in the importance of maintaining
issues and practices; emissions, targets and other business ventures, carbon management and infrastructure investments;
a workplace in which all employees feel seen,
environmental matters; ESG-related stakeholder
valued, heard and connected. Devon’s ESG program and target-setting for performance in the area; and
engagements; public policy developments; and our
the opportunity for outside speakers to present on certain topics at board meetings.
social responsibility programs. The GEPP Committee’s
As ESG and EHS performance have become more
endorsement of high standards for ESG performance
Keyword: governance
priorities, and secure internal alignment. toward building alignment on highly effective corporate governance of the company.
other board committees as appropriate and additional
discussions with the full board. For example, aspects of
various proposed and new federal regulations, such as
the climate-related disclosure rule and the more stringent
methane regulations, have been discussed at different
committees of the board as well as the full board.
51 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Corporate Governance
continued
Tenure Board diversity Total compensation is weighted in favor of long-term
incentives to emphasize value creation and stockholder
The tenure of our directors reflects a balance of Our decisions and actions have benefited from
How to contact De
Keyword: governance
9% Governance Guidelines, which provides that the GEPP and the business unit or organization they manage. At
Any stockholder or other interested party may
the start of each year, the Compensation Committee
Committee seeks to include women and minorities in contact Devon’s non-management directors
establishes companywide goals for the year that are
the pool of candidates for director nominations and individually or as a group for any matters by:
used in awarding bonuses following the end of the year.
requires any search firm it engages to do the same. As
The executive leadership team keeps the Compensation
36% of June 2024, our board included four women (36%)
U.S. mail to non-management Directors, c/o
Committee apprised of performance on the goals
and on
Keyword: governance
52 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Corporate Governance
continued
The company registered overall positive results on
Directors’ Skills and Experience
the goals during the challenging commodity price
environment of 2023. Performance on the company’s
Barbara John E. Ann G. Gennifer F. Kelt John Karl F. Michael N. Robert A. Rick E. Valerie M.
emissions reduction was well above the goal established Baumann Bethancourt Fox Kelly Kindick Krenickl Jr. Kurz Mears Mosbacher Jr. Muncrief Williams
at the start of the year. Based on our results, the Age 68 72 47 51 69 61 62 61 72 65 67
Compensation Committee assigned a company Diversity
performance score of 101%, which led to modestly Key Skills and Experience
above-target bonuses for our employees. Human Cap
Keyword: governance
Corp. Governance/Risk Mgt.
director compensation policies and practices of Devon’s
Investment Mgt./Stewardship
principal competitors and other comparable companies.
Marketing/Energy-Related Infrastructure
The Compensation Committee also considers the form
and amount of director compensation. A meaningful = All four directors are women, Ms. Williams is Black/African American.
portion of director compensation is conferred in
the form of equity, which reflects the expectation
that directors should have a significant stake in the To help ensure that management and our board most recent advisory vote by stockholders on executive
performance of the company and thereby align their understand the compensation issues that matter to compensation. At our most recent
Keyword: governance
53 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Enterprise Risk Management
Identifying and managing material risks
Systematically identifying and managing Identifying and managing material risks
economic, operational and reputational risks to Our ERM framework includes an annual risk analysis
Devon’s ERM framework
and survey to help us determine the material risks to our
our business is essential to Devon’s efforts to
business. The board, management and subject matter
deliver results safely, ethically and responsibly.
United Nations member states adopted 17 Our risk management process enables us to
experts across the enterprise consider the impact and
Sustainable Development Goals in 2015. identify, prepare for and respond quickly to
likelihood that certain ri
Keyword: governance
that strong governance of corporate reputational risk to the company, as well as our level of
for risk oversight, and each director has experience executing our business strategy effectively.
climate risk is foundational to preparedness for each risk. During this analysis, leaders
in risk management. The board’s four standing
supporting climate action. At Devon,
from multiple work disciplines participate in exercises and
climate-related issues are managed committees consider the current and emerging risks
workshops to help us identify new and emerging risks and
by formal corporate management inherent in their areas of oversight and update the full
maintain awareness of business risks across Devon.
structures, including board level board. Our management team over
Keyword: governance
54 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Shareholder Engagement
Seeking and listening to shareholder feedback
Building relationships with our shareholders Listening to shareholder feedback around an objective that motivates our employees and
helps Devon anticipate and manage issues that We value shareholder feedback and use it to evaluate environmentally focused investors. Our goal-setting
Increasing transparency
influence our long-term success. We’ve learned the strength of our programs and practices. We and performance have led to broad support for our
through years of active shareholder outreach understand that minimizing the environmental impact compensation programs, with approximately 94% of
of our operations is critically important. To reflect ou
Keyword: governance
strengthened our governance structure and practices reporting, we published Climate Change Assessment Zicklin Index. climate-related policy matters.
to more effectively manage the risks and opportunities
Reports in 2018, 2020, 2021 and 2023. The 2023
I ncorporating emissions, safety and other
of climate change, workforce diversity and other ESG
report is consistent with the core elements of the Task These assessments also allow us to gauge the ESG metrics into our executive compensation
issues of interest to our shareholders. The Governance,
Force on Climate-related Financial Disclosures (TCFD) information that our investors value and improve our structure, including a standalone emissions
Environmental and Public Policy (GEPP) Committee of
framework. We seek to alig
Keyword: governance
Our vice president, corporate governance, secretary
To further reflect our environmental focus, Devon led initiative targeting the world’s largest corporate
and associate general counsel leads Devon’s efforts to
included a standalone emissions reduction goal with greenhouse gas emitters.
communicate directly with shareholders to understand
a 15% weighting on our 2023 and 2022 corporate
their ESG-related interests. Devon senior leaders and
performance scorecard. In addition, we included an
subject matter experts on ESG topics — including
ESG and community engagement measure with a
executive compensation, field environmental practices
weighting of 15% in 2023 and 2022. In comparison,
and diversity — often join the shareholder meetings to
our 2021 emissions goal made up a portion of
Keyword: governance
55 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Public Advocacy
Encouraging sound public policy
Public policy discussions about our industry Our board’s Governance, Environmental and Public Encouraging sound, durable public policy Broadening our perspective
are evolving along with growing interest in the Policy (GEPP) Committee advises the full board and Important decisions about energy, the environment Proactive engagements with a broad spectrum of
energy transition and the sustainability of oil management on public policy issues that affect Devon and the economy require accurate information and leaders help us develop solutions on issues that affect
and gas development and production. Devon and our stakeholders. Our vice president of public and thoughtful de
Keyword: governance
in local, state, national and global economies. The on aligning and connecting our external engagements Corporate Governance Roundtable. climate change and other issues. This outreach has the
company monitors developments in regulations, with the company’s sustainability remit to help ensure added benefit of enhancing our research, recruitment
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 ins
Keyword: governance
56 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Public Advocacy
continued
As part of our advocacy for reasonable methane Industry leadership
regulations, Devon engages with a wide variety of
We make our views on regulations and laws known
stakeholders, including:
through active participation in industry associations, Advocating for reasonable methane regulation
trade groups, business coalitions and advocacy groups.
EPA, BLM and other federal agencies We share information about industry issues with our Devon is committed to reducing methane emissions from our operations. We work with a wide variety of
Federal lawmakers
employees to aid discussions with their friends and stakeholders on supporting reasonable regulation of methane that enables our company and the
Keyword: governance
Harvard Corporate Governance Roundtable American Exploration and Production Council (AXPC)
In 2023, we continued to engage constructively on pending federal rulemaking, including with the
and the API. We’re a founder and current steering
JP Morgan and other financial institutions Environmental Protection Agency (EPA) on its more stringent methane regulations, the Bureau of Land
committee member of The Environmental Partnership,
Peer oil and natural gas operators
Management (BLM) on its venting and flaring rules and the Securities and Exchange Commission (SEC) on its
API’s growing coalition taking action to improve the
climate disclosure rules.
industry’s environmental performance. Our involvement
in the partnership and in developing methane We took an active role in o
Keyword: governance
57 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Ethics and Integrity
High standards of conduct
At Devon, we’re committed to doing what’s We expect Devon directors, officers and employees
right and to demonstrating our fundamental to comply with policies associated with the code that
provide guidance on specific business practices. These
value of integrity in all aspects of our business.
include our Zero Tolerance Anti-Harassment Policy,
Openness, honesty and respect are key to
Drug and Alcohol Abuse Prevention and Testing Policy,
building trusting relationships, demonstrating
Employees and third parties can
Delegation of Authority Policy, Conflicts of Interest Policy,
courage and delivering results for our access the Ethics and Compliance
and Environmental, He
Keyword: governance
58 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Ethics and Integrity
continued
Enforcing the code
To help us maintain our relationships and reputation, Training our employees to
Devon employees have an obligation to enforce the
recognize fraud
code and report potential violations. We do not allow
retaliation for making a report in good faith.
We work to prevent invoicing abuse, digital scams
and other types of fraud with an active fraud
Employees can make a report to our executive vice
awareness program. Our team of fraud examiners
president and general counsel or to our third-party with fraud investigation experience helps us identify
Ethics and Compliance Helpline, available at all times and avoid working with vendors that pose a fraud
by phone and online. T
Keyword: governance
59 Devon Energy 2024 Sustainability Report GovernanceOverview Environment Safety & Security Governance Social Workforce Reporting
Investing in our communities
The Social section of our
2024 Sustainability Report includes: Resource Links:
Overview 61 Corporate Giving Policy
Community Engagement 62 Statement on Human Rights
STEM 65
Philanthropy 70
Human Rights 74
60 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
To be a socially responsible operator, Devon focuses on building strong,
Social Metrics
safe communities and an educated workforce. We invest in aspects of
2021 2022 2023
community life where we can have the greatest impact, while aligning
Social Investments (millions) $13.7 $29.6 $15.9
with Devon’s values and business goals: STEM (science, technology
Keyword: governance
61 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
Community Engagement
Building relationships
Earning the trust of our stakeholders by what We partnered with the First Responder Children’s Hometown Hero Award
we say and do is part of the Devon culture and Foundation (FRCF) in 2023 to distribute holiday gifts and To show support for first responders in the Delaware Basin, our most active area of operations, Devon presents our
meals to hundreds of Boys and Girls Club members in
one of our corporate values. We’re committed Hometown Hero Award to individuals who go above and beyond the call to services. One of the 2023 recipients was
Eddy, Lea and Chavez counties in the Permian Basin.
to building relationships of mutual respect with Heather Slayton, who is leading t
Keyword: governance
62 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
Community Engagement
continued
Focusing on communities
To celebrate the cultures and unique qualities of our
communities, Devon donates to local fairs and events
where we operate. In 2023, we contributed to the Cuero
Turkeyfest, Christmas on the Pecos in Carlsbad, and
Oklahoma City National Memorial and Museum.
Devon is active in industry efforts to address the
impacts of oil and natural gas industry operations on
road infrastructure and road safety. In the Permian
Basin, 11% of traffic fatalities occur on the region’s roads
that need $3 billion in repairs to improve safety and
meet expected needs. As a sponsor of the Permian
Road Safety Coalition (PRSC), Devon works with a
cross-section of stakeholders invested
Keyword: governance
63 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
Community Engagement
continued
Devon’s $20 million investment in the Permian Strategic
Partnership is shaping region’s and industry’s future
The region encompassing Devon’s Delaware Basin assets in In 2023, Devon renewed our multi-year commitment to training, expanded healthcare access, improved safety and In 2022, Devon connected the PSP with our community
southeast New Mexico and west Texas became the world’s the PSP’s mission with a $10 million pledge, bringing our infrastructure, made housing more affordable for teachers STEM partner, the Ripken Foundation. As a result, the PSP
highest-producing oilfield in 2019. The Permian Basin — a total investment to $20 million since 2018. Our executive and expanded broa
Keyword: governance
64 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
STEM
Inspiring innovation and imagination
Devon’s future employees must have strong technical know-how
and creative problem-solving skills to help us deliver affordable oil
and natural gas in an environmentally and socially responsible way.
We believe investing in education can help us build the workforce we need
to achieve our technology leadership goals and our vision of diversity, equity
and inclusion (DEI). Our social investments are focused on building student
capabilities in STEM (science, technology, engineering and math). We’re
particularly interested in increasing the representation of girls, minorities and
rural communities in STEM fields. These groups are a growing part of the
workforce whose talents w
Keyword: governance
65 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
STEM
continued
Continuing progress at our original STEM partner parent involvement helps determine student success,
school in 2021 we added STEM camps where families work
Devon has supported STEM education with grants to on STEM challenges together. Parents and students
teachers and school programs, investments in STEM get hands-on experience with CAD (computer-aided
2023 Achievements at
centers and contributions to STEM-focused programs design), welding, construction and math. Families can
Mark Twain Elementary
for over a decade. We significantly enhanced our STEM access food banks and other social services at the
capabilities in 2019 by convening local and national camps, as well as get produce from a community
Keyword: governance
66 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
STEM
continued
66,482 and stretch their imaginations with innovative learning Highlights of data from the most recent pre- and post-
equipment like 3D printers, Snap Circuits, Ozobots and PEAR survey of 469 students in the fourth, fifth and
Bee-Bots. Adaptive features include a component that sixth grades from four different schools in New Mexico
United Nations member states adopted 17
travels to classrooms for students unable to physically and Texas include:
Sustainable Development Goals in 2015.
visit the STEM center, communication supports, and Education is an integral component
student engagements at Ripken STEM Centers across our
operating areas (49% were female and 73% were minority)* enhanced instructions
Keyword: governance
67 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
STEM
continued
Community STEM programs
Devon collaborates with schools and community organizations to enhance access to STEM education. We support innovative STEM
programs, especially when they highlight local culture and opportunities to inspire young people to pursue STEM subjects.
Ripken STEM Grant SportsLab STEM Signing Day Girl Scouts
Our signature STEM program has This multi-year partnership with Devon partners with Boeing to Devon is a long-time partner of the
made more than $1 million in grants to the University of Tulsa, University of celebrate students who commit to Girl Scouts of Western Oklahoma and
educators in our U.S. operating areas Oklahoma and Oklahoma study STEM in college. Similar to sports a
Keyword: governance
68 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
STEM
continued
49%
Southwest Alliance for Girls’ FIRST Robotics Inspired by Science Camp
Enrichment (SAGE)
We’ve been a sponsor of FIRST In partnership with the Carlsbad
This week-long SAGE camp is Robotics in Oklahoma since 2017. The Community Foundation, Devon hosts
designed to empower girls to think six-week competition pairs teams of a one-week STEM-focused summer
about themselves as future scientists, young people from across Oklahoma camp for third through fifth graders of participants in Devon STEM programs were female *
mathematicians and computer specialists. Campers with local engineers, professors and business throughout the Permian Basin region. Students identified
take interactive field trips to expl
Keyword: governance
69 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
Philanthropy
Enhancing quality of life
Vital social services and opportunities to In New Mexico, we participate in the annual National Matching employee giving
enjoy arts, culture and nature help make our Public Lands Day, a project to repair and restore public Devon launched our Employee Gift Match Program
recreation areas. Our employees partnered with the
communities vibrant. Devon’s investments in in 2022 to amplify employees and directors’ support
Bureau of Land Management (BLM) and the nonprofit
community enrichment align with our value of nonprofit organizations that reflect their personal
CEHMM in 2023 on projects to protect ecological
interests, passions and pursuits. The company matches
to make a positiv
Keyword: governance
70 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
Philanthropy
continued
DEI Community Grants
2021 2022 2023
We want to make a real difference in people’s lives,
and we listen to stakeholders to find the most
effective programs to meet community needs.
We created the Devon DEI Community Grants In 2021, we awarded $100,000 In 2022, we awarded a total of In 2023, our DEI Community Grant
(formerly Inclusion and Equity Grants) to put our to our first nine new partner $268,000, including to 11 new, program encompassed all of our
diversity, equity and inclusion beliefs into action organizations in Oklahoma City diverse partners in Oklahoma City operating areas in addition to Oklahoma
with community organizations we’d never worked and several 2021 grant recipients City
Keyword: governance
71 Devon Energy 2024 Sustainability Report SocialOverview Environment Safety & Security Governance Social Workforce Reporting
Philanthropy
continued
Sisu: $10,000 Anadarko Basin Eagle Ford Carlsbad September Fiestas: $1,500
Sisu is a low-barrier shelter for difficult-to-serve youth. In The Devon grant facilitated the 16th of September
Canadian County CASA: $1,250 Chisholm Trail Heritage Museum: $4,500
2022, nearly 70% of the youth served were Black, Latino Fiesta activities and helped keep the event free to
and Indigenous. Devon’s donation provided training for the community. The fiesta’s focus is to acknowledge
Devon’s contribution assisted essential recruitment, Devon’s contribution supported Black Cowboys: An
Sisu staff members to solidify the organization’s cultural the history, heritage and contributions of American
training, and s
Keyword: governance
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Philanthropy
continued
Wings for L.I.F.E.: $2,500 Rockies: Wyoming
Wings for L.I.F.E. builds and strengthens healthy
Climb Wyoming: $5,000
family relationships and individual life-skills through
best practice programs that produce positive
Climb Wyoming’s mission is to help low-income single
behaviors. The Devon grant helped the organization
mothers discover self-sufficiency through career
continue supporting the Building Assets Elementary
training and placement. Through its Gillette office,
Program that promotes academic success, reduces
Climb offers industry training, life and financial skills
engagement in risky behaviors, and provides valuable
development, and mental health support to overcome
skills such as
Keyword: governance
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Human Rights
Respect and dignity
DEVON’S STATEMENT ON HUMAN RIGHTS We actively engage with community members where Devon employees are required to follow our code, including any adverse human rights impacts. We will
we operate to understand the safety, environmental which provides guidance on human rights issues such investigate, address and respond to any concerns with
and human rights impacts of our operations. When as non-discrimination, anti-harassment and equal the utmost attention. For more on our helpline, see the
Operating our business in a way that is
assessing and addressing these impacts, we consult employment opportunities. Our vendors and suppliers governance section.
consistent with human rights exp
Keyword: governance
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Cultivating an environment where
employees can be their best
The Workforce section of our
2024 Sustainability Report includes: Resource Links:
Overview 76 Code of Business Conduct and Ethics
Our Employee Experience 77 Mission Statement, Vision Statement
and Core Values
Diversity, Equity and Inclusion 81
2023 EEO-1 Report
75 Devon Energy 2024 Sustainability Report WorkforceOverview Environment Safety & Security Governance Social Workforce Reporting
Overview
Devon sets high standards for operational, financial and ESG performance to
Workforce Metrics Advancing pay equity
meet our stakeholders’ expectations, and our employees consistently strive
To build the workforce we need,
2021 2022 2023 we must offer equitable
Keyword: governance
76 Devon Energy 2024 Sustainability Report WorkforceOverview Environment Safety & Security Governance Social Workforce Reporting
Our Employee Experience
Investing in our employees
At Devon, we listen to our employees. We value
our people and invest in their success. Devon
What Devon
focuses on providing personally and professionally
employees want
Field employees desire formal, on-the-job and cross-training, and Corporate teams desire
fulfilling careers, meaningful benefits and
from learning and more hands-on and in-person classroom training including technical, professional, technical, technology
compensation, and a sense of inclusion and leadership and technology training. and data skills training.
development
belonging. Our workforce is central to and drives
our long-term success. We are at our best when
all employees are heard, valued
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77 Devon Energy 2024 Sustainability Report WorkforceOverview Environment Safety & Security Governance Social Workforce Reporting
Our Employee Experience
continued
64%
100%
Meaningful compensation, benefits clinic, the Doc, is available with telehealth options also
and work practices available to field employees. A dedicated intranet site
We value employees who are open and honest, take consolidates mental health resources in one place to
of employees received an ownership and contribute to our company objectives. make it easy and convenient for employees to find the of Devon leaders attended
mental health training by the
annual performance bonus and
To cultivate a workforce with these qualities, we start care they need. Based on positive feedback in the field, end of the first quarter of 2024.
long-term incentives.
with offering equitable
Keyword: governance
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Our Employee Experience
continued
Employee wellness Devon offers wellness resources to enhance well-
being, including:
Devon believes in supporting the well-being of
our employees, who balance multiple roles and
Annual physical exams, annual vision screenings,
responsibilities in their personal lives, while delivering
two annual dental exams, colonoscopies,
results for the company. We consider these
mammograms, prostate exams and well-woman
expectations when developing programs that can
exams at no cost to employees.
meaningfully improve our employees’ physical, mental
Onsite mammography twice each year at our
and financial well-being.
Oklahoma City headquarters.
Since establishing our wellness program in 2012, D
Keyword: governance
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Our Employee Experience
continued
Tools and strategies for financial wellness
Concerns about debt, retirement and other personal
finance issues can affect an employee’s sense of well-
United Nations member states adopted 17
being. Our financial wellness program offers confidential Sustainable Development Goals in 2015.
and unbiased financial guidance and resources at no We aim to deliver tools and resources
cost to employees. These include third-party financial that support our employees’ pursuit
of healthy lives, stability and well-
assessments and web-based workshops. Employees can
being. Devon takes a holistic approach
also meet one-on-one with a third-party financial expert
to employee wellness, encouraging
o
Keyword: governance
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Diversity, Equity and Inclusion
We’re in this together
A part of the Devon culture is to value
differences, include and encourage others, and
What DEI means at Devon
courageously address inequity where it exists.
We cultivate an inclusive, diverse, equitable and
respectful workplace where our employees
can feel a sense of belonging. When we bring
together diverse experiences and challenge
Diversity
ourselves to think differently, we believe it leads
to innovation and creative problem-solving. We believe it is foundational to Devon’s
success that our team includes
Devon also engages with our communities to
people with a variety of backgrounds,
understand how we can make a difference
perspectives, experiences and a
Keyword: governance
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Diversity, Equity and Inclusion
continued
Our actions in 2023 to be more diverse, equitable and Launched Foundations of Leadership program
inclusive included: in 2023 for all leaders through a partnership with
Harvard Corporate Learning. It includes reinforcing
United Nations member states adopted 17 leader’s skills in building and maintaining trust,
Policies
Sustainable Development Goals in 2015.
creating psychological safety, setting clear
In an industry where the majority of
expectations, feedback, and coaching for
workers traditionally have been male, Enhanced Devon’s paid time off policy to provide
individual and team performance.
Devon is taking steps to increase additional time for all employees to take ca
Keyword: governance
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Diversity, Equity and Inclusion
continued
Developing tomorrow’s workforce today
Devon’s partnership with Cristo Rey Catholic High
School in Oklahoma City is an investment in the school,
its students and our future workforce. Cristo Rey
received a Devon DEI Community Grant in 2022 for Internship Program: An investment in their future and ours
its work-study program for eight students to get real-
Our internship program brings students from many different disciplines from universities all across
world work experience in our headquarters office. The
the country to work alongside our employees for several months. We value the diverse backgrounds
work-study program also accounts for a major part
and perspectives our i
Keyword: governance
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Performance Metrics
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
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84 Devon Energy 2024 Sustainability Report ReportingOverview Environment Safety & Security Governance Social Workforce Reporting
Performance Metrics
continued
Safety Performance Metrics Social Metrics
2021 2022 2023 2021 2022 2023
Fatalities (Employee + Contractor workforce) 0 1 1 Social Investments (millions) $13.7 $29.6 $15.9
Total Recordable Incident Rate (TRIR) (Employee + Contractor) 0.50 0.53 0.53
TRIR - Employee 0.58 0.56 0.75
Workforce Metrics
TRIR - Contractor 0.48 0.53 0.50
Serious Incident and Fatality (SIF) Recordable Rate (Employee + Contractor) 0.07 0.05 0.07
2021 2022 2023
Days Away Restricted Transfer (DART) Incident Rate (Employee + Contractor) 0.33 0.35 0.30
Headcount (total company) 1,6452 1,8602 1,9562
DART Incident Rate - Employee 0.34 0.17 0.30
Minorites as a Percentage of Workforce 1 22% 22% 24%
DART Incident Rate -