2024 ESG Report FINAL - Report - Page 72
Stakeholder Engagement
Our engagement program offers proactive outreach and opportunities for stakeholders to communicate their
concerns and priorities to our management team. Additionally, the program undergoes a rigorous analysis, review
and assessment process to ensure continuous improvement.
Proactive
Ongoing engagement with stakeholders is important to us. For instance, throughout the year we
communicate with our stakeholders through a variety of means, including direct interface, investor
presentations, ESG presentations, our website, community outreach and the publications and
reports we issue.
Consistent Dialogue
As part of our engagement efforts, our senior management team reaches out to our stakeholders
for dialogue concerning their priorities – which may include our corporate strategy, environmental
initiatives, 昀椀nancial performance, capital allocation, sustainability, climate-related risks and
opportunities facing Valero, GHG emissions, human capital management, executive compensation
and/or corporate governance, among other relevant matters. We value our stakeholders’ views
and input.
Process: Review, Plan, Engage, and Analyze and Respond
Our engagement process follows a “review, plan, engage, and analyze and respond” cycle to build
relationships and create meaningful interactions. Our engagements with stakeholders have been
constructive and have provided management and the Board with insights on issues and initiatives
that are important to our stakeholders. Additionally, we initiate formal outreach efforts throughout
the year.
Assessment
Our engagement process is adjusted based on needs and business strategy. After each
engagement opportunity, we assess the input received and share it with our management team
and the Board, as appropriate. This constant communication with the management team and
the Board allows us to develop policies, practices and disclosures to meet the expectations of our
stakeholders.
Our Responsiveness to Engagement
As part of our engagement efforts, we proactively offer dialogue to stockholders and stakeholders regarding
different matters, such as executive compensation, ESG, sustainability, proxy proposals, climate-related risks
and opportunities, GHG emissions targets, environmental justice and community engagement efforts, human
capital management, and political and lobbying activities. The robust ESG/compensation engagement efforts we
undertook over the course of 2023 and into 2024 consisted of the following:
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