MPC conducts its business according to five values
Our values and governance
Our values dictate how we approach our business decisions. Our board of directors and executive management recognize that our shareholders expect a solid return on their investment. But those who own MPC stock also share our expectation that we will earn profits honestly, inclusively, and while protecting the environment, our employees and contractors, and the communities where we operate.
How we live our values
Our governance is transparent and promotes accountability. On our website we post our Corporate Governance Principles, bylaws, Code of Ethics for Senior Financial Officers, and various corporate governance policies, guidelines and procedures, among other governance-related documents. These documents provide a clear view of how we operate our business. They can be found here.
We also post our Code of Business Conduct, which members of our board, executive officers and salaried employees are required to read and adhere to. The code provides guidance for a variety of business situations, and multiple ways to report instances in which ethical, honest business practices may have been breached. Our code also makes explicit our requirement to respect the human, cultural and legal rights of individuals and communities and to promote, where we can and within the parameters of our business role, the goals and principles of the United Nations Universal Declaration of Human Rights. Our acknowledgment of these principles is consistent with our dedication to enriching the workplace, preserving the environment, strengthening the communities where we operate and engaging with our stakeholders to pursue progress toward these goals.
Our inaugural Perspectives on Climate-Related Scenarios report describes Board of Director oversight of risk management and the policies and procedures we use to ensure we are adhering to our core values. The publication can be found here.
A key component to operating pursuant to our health, environmental, safety and security values is our commitment to obtain companywide RC14001® certification, further described in the 2017 Citizenship Report.
In that report, you’ll also see that we combined Diversity and Inclusion and Talent Management into a single organization; because we value diversity, we are integrating it into the way we find, recruit, retain and manage our talented employees. Similarly, we have spent billions of dollars on environmental stewardship and safety measures, which we describe in this report.
The articles in the Citizenship Report and our Perspectives on Climate-Related Scenarios report demonstrate Marathon Petroleum Corporation’s robust set of policies and procedures in the areas of business integrity, corporate responsibility and human resources.