Chevron conducts business in accordance with the highest ethical standards and in compliance with the letter and spirit of applicable laws in countries where we operate. Our Business Conduct and Ethics Code (BC&E Code) communicates to our employees the values that guide our actions and decision making worldwide.
Employees are required to read and acknowledge that they will abide by the BC&E Code, which is available in 12 languages. The code is reviewed, updated and redeployed periodically. It will be updated in 2008 and will include Chevron’s Human Rights Statement.
All employees are required to report any questionable conduct to management, legal counsel, Human Resources, Global Security, Internal Audit or to the Chevron Hotline. Reports of questionable conduct may involve, for instance, violations of the law, the BC&E Code or company policies.
The Chevron Hotline is operated offsite by Global Compliance Services (AlertLine®), an independent agent. Employees and contractors can access the hotline 24 hours a day by the Internet, multilingual phone line or letter. All hotline reports are received and reviewed by the corporation’s chief compliance officer, chief corporate counsel and the corporation’s hotline program coordinator. If appropriate, these matters are elevated to the Audit Committee of the Board of Directors. Submissions to the hotline can be made anonymously. Chevron does not tolerate any form of retaliation for reports made in good faith to the hotline.
In 2007, AlertLine® received 445 calls, compared with 262 calls in 2006 and 275 in 2005. During 2007, we conducted a hotline employee-awareness campaign and took steps to improve ease of use and access to the hotline companywide. The largest percentage of calls pertained to three classifications:
- People management issues – 56%
- Financial and internal controls – 15%
- Internet/mail incidents – 12%
Internet/mail incidents refers to fraudulent proposals from non-Chevron representatives made to individuals, businesses and organizations.
Oversight of the compliance program is a companywide effort that extends from business units to the Board of Directors. The board’s Audit Committee, which is supported by the Corporate Compliance Policy Committee composed of senior executives, governs our companywide compliance program. Each reporting unit has its own compliance or audit committee to manage the responsibilities specific to that organization. The board’s Audit Committee reviews the company’s internal auditing practices and is responsible for corporate compliance oversight.
Updated: May 2008