Chevron Issues 2008 Corporate Responsibility Report

Chevron Corporation (NYSE: CVX) invested $160 million in communities around the world, posted record safety performance and completed major energy efficiency projects, according to the company's 2008 Corporate Responsibility Report, which was issued today.

"Energy is the foundation of global growth and prosperity," said Dave O'Reilly, Chevron chairman and CEO. "But Chevron does much more than provide energy. Our partnerships touch millions of lives and set the stage for human advancement by addressing basic human needs, education and economic development."

Chevron's seventh annual corporate responsibility report provides descriptions, data and perspectives on key areas such as community engagement, health and safety, energy efficiency, renewable and alternative energy, and environmental performance for 2008. Highlights include:

Community Engagement

Through building partnerships that produce sustainable results, Chevron invested $160 million in communities around the world in 2008, an increase of $41 million over 2007. These investments help improve access to basic human needs, enable education and training opportunities, and promote sustainable livelihoods.

Chevron is the first Corporate Champion of The Global Fund to Fight AIDS, Tuberculosis and Malaria. In 2008, Chevron provided the initial $5 million investment of a $30 million commitment for Global Fund grants in Indonesia, Thailand, Angola, South Africa, Nigeria and the Philippines.

Chevron also responded to natural disasters in Myanmar, China, the Caribbean, and on the U.S. Gulf Coast to help meet the needs of those affected. Chevron’s longer-term post-disaster response projects reached milestones in 2008 with the opening of a polytechnic institute in Aceh, Indonesia, and the final evaluation of Chevron’s Energy For Learning™ program in Louisiana and Mississippi.

Health and Safety

For the seventh consecutive year, Chevron has improved its safety performance.

In 2008, Chevron provided HIV/AIDS awareness and prevention training to more than 4,500 employees around the world and hosted AIDS Day events at more than 25 Chevron facilities in 11 countries.

Energy Efficiency and Climate Change

In 2008, Chevron reduced its greenhouse gas (GHG) emissions by 800,000 metric tons of CO₂ equivalent. Chevron is committed to energy efficiency and has increased the energy efficiency of its global operations by 28 percent since 1992.

Chevron Energy Solutions (CES), a corporate subsidiary, was recently listed in Fast Company’s "World’s Most Innovative Companies.” CES completed efficiency and solar projects for schools, the U.S. federal government, and Chevron. In December 2008, CES was awarded a master Energy Saving Performance Contract from the U.S. Department of Energy to work with federal agencies to reduce energy and water consumption and increase the use of renewable energy at agency facilities. This Indefinite Delivery/Indefinite Quantity contract provides a significant opportunity for CES to expand its efficiency work with federal agencies in 2009 and into the future.

In late 2008, Chevron launched "I Will,” a new phase of its Human Energy™ campaign in the United States. It encourages Americans to conserve energy and use it more efficiently. Willyoujoinus.com has drawn more than 3.7 million visitors since it was launched in July 2005, and more than 1.3 million of them since the "I Will" campaign was launched.

Renewable and Alternative Energy

Through a joint venture with Weyerhaeuser Co., one of the nation’s largest forest products companies, Chevron formed Catchlight Energy LLC to develop the next generation of renewable transportation fuels from nonfood sources. The joint venture is a research and development partnership to transform cellulosic biomass into biofuels. Cellulosic biomass is made from renewable sources of forest and agricultural residuals instead of food crops.

In May 2008, Chevron completed its first LEED (Leadership in Energy and Environmental Design) Gold-certified green building project in Covington, Louisiana. LEED is a certification program of the U.S. Green Building Council and is the recognized standard for measuring the sustainability of buildings, taking into account energy and water use, the procurement of recycled material in construction, waste minimization, and other elements.

Stakeholder Engagement

Chevron's Environmental, Social and Health Impact Assessment (ESHIA) process identifies, analyzes and develops measures that enhance benefits and avoid or mitigate environmental, social and health impacts of new capital projects. By the end of 2008, ESHIA was being applied to more than 450 capital projects worldwide. A goal of ESHIA is to establish and maintain dialogue with stakeholders throughout the lifetime of a project and solicit their views and ideas to improve benefits and avoid or mitigate potential adverse impacts, and to consider potential environmental, social and health effects and stakeholder input in the company’s assessments and planning.

The full 2008 Corporate Responsibility Report is available at www.chevron.com/corporateresponsibility.