Marathon Petroleum Corp. published two annual reports that expand its disclosures in environmental, social and governance (ESG) matters while detailing its approach to sustainability.
As the company continues to diversify its portfolio of products and services and grow lower-carbon fuels and energy sources, it is also enhancing its reporting on diversity, equity and inclusion; greenhouse gas emissions; biodiversity; stakeholder engagement and other related topics.
“We are committed to meeting the needs of today while investing in a sustainable, energy-diverse future,” said MPC President and CEO Michael J. Hennigan. “Our approach to sustainability spans the environmental, social and governance dimensions of our business. That means strengthening resiliency by lowering our carbon intensity and conserving natural resources, innovating for the future by investing in renewables and emerging technologies, and further embedding sustainability in decision-making, capital allocation, and how we engage our people and many other stakeholders.”
Published annually since 2017, MPC’s “Perspectives on Climate-Related Scenarios” follows guidance from the Task Force on Climate-related Financial Disclosures (TCFD). The MPC publication analyzes the company’s resiliency relative to climate scenarios put forth by the International Energy Agency.
MPC’s “Sustainability Report” provides an in-depth look at the company’s sustainability approach and performance, consistent with reporting guidance from the Sustainability Accounting Standards Board and Global Reporting Initiative.
Diversity & Inclusion Data
The company reports employee diversity data consistent with the Equal Employment Opportunity Commission “EEO-1” framework and has demonstrated its commitment to continuous improvement by establishing a diversity, equity and inclusion goal linked to executive and employee compensation.
In both its “Sustainability Report” and “Climate-Related Perspectives Report,” MPC reports for the first time the estimated Scope 3 greenhouse gas emissions from the use of its sold products. The reports also provide details on the company’s greenhouse gas emissions intensity goal tied to compensation, and its multiple ENERGY STAR awards from the U.S. Environmental Protection Agency for energy efficiency and environmental compliance.
Both reports can be found on MPC’s website at www.marathonpetroleum.com/sustainability.
Headquartered in Findlay, Ohio, MPC operates the nation’s largest refining system. Its marketing system includes branded locations across the U.S., including Marathon brand retail outlets.