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Chevron ceases to be an EITI supporting company

Chevron withdraws from the EITI

Chevron Corporation has informed the EITI International Secretariat that it has withdrawn from the EITI as an EITI supporting company.

In a letter to EITI Board Chair Helen Clark, Chevron confirmed its decision to withdraw from the EITI to focus on environmental, social and governance (ESG) reporting and financial disclosure reporting requirements in the jurisdictions where it operates.

Mark Robinson, EITI Executive Director, said: “We regret Chevron’s departure from the EITI. Oil and gas companies in the EITI play an instrumental role in upholding transparency and accountability, notably through their commitments as EITI supporting companies. The EITI Standard remains the leading global governance standard in the extractive sector; no other mandatory standard captures a comparable range of data and reporting.”

Chevron has supported the EITI since its inception in 2003 and was a member of the EITI Board until June 2022.

“The EITI is grateful for the long service of Chevron Corporation on the EITI Board and for the way in which its representatives have fostered multi-stakeholder dialogue,” continued Robinson.

In its withdrawal letter, the company noted that it will continue to participate in national level multi-stakeholder groups and provide financial disclosures in EITI implementing countries.

If Chevron chooses to re-apply to be an EITI supporting company in the future, the company’s performance against the Expectations for EITI supporting companies will be reassessed at that time.

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