Phillips 66 Publishes its 2021 Sustainability Report

The report details the company’s actions in 2020 to advance a lower-carbon future

Phillips 66 released its 2021 Sustainability Report on Thursday, giving a broad account of how the company advanced a lower-carbon future in 2020 while weathering the pandemic. The report includes an analysis of the company’s climate-related risks and opportunities as well as performance data on various environmental, social and governance matters, underlining Phillips 66’s continued commitment to transparency.

In his introductory letter to the report, Phillips 66 Chairman and CEO Greg Garland lauded the company’s resilience amid the challenges of 2020. Phillips 66 had its best year yet in safety in 2020 and completed a number of major projects, including the 845-mile-long Gray Oak Pipeline. He also noted that the company’s efforts didn’t revolve solely around getting through the crisis.

“We also distinguished ourselves in how we kept Phillips 66 moving forward into 2021 and preparing for the future,” he said. “We announced the Rodeo Renewed project in California, which will convert our San Francisco Refinery into one of the world’s largest renewable fuels facilities, and introduced our new Emerging Energy organization. … We are committed to being part of the solution to help the world address climate change.”

The report — published on Phillips66.com and accompanied online by related web-exclusive articles and videos — includes:

• the company’s position on climate change, guiding principles, and its intention to announce its targets for greenhouse gas emissions by the end of 2021;
• updated analysis and disclosures based on the Task Force on Climate-related Financial Disclosures (TCFD) framework; and
• expanded metrics on safety, greenhouse gas emissions, community engagement and its workforce, among other areas.

To view Phillips 66’s 2021 Sustainability Report, go to phillips66.com/sustainability.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,200 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of March 31, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

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