Constructive conversations about public policy
With growing interest in the energy transition and the sustainability of our industry, public policy discussions about oil and gas development and production are evolving rapidly. Devon engages on issues as diverse as climate change, emissions reductions, hydraulic fracturing and federal lands access. We’re committed to having constructive conversations, building relationships and developing solutions that help us deliver results while addressing stakeholder concerns.
As a leading U.S. energy company, Devon participates in local, state, national and global economies. The company takes public policy positions on issues that impact our business, including regulations, taxes, trade, jobs and ESG performance. We have a responsibility to advocate for laws and rules that meet business and societal needs, and to consider and communicate the impacts and trade-offs of our decisions.
At the board level, the Governance, Environmental, and Public Policy (GEPP) Committee reviews our advocacy efforts and assists with evaluating political, legislative and regulatory developments that could affect Devon. Our vice president of public and government affairs, who reports to the executive vice president and general counsel and is a member of the ESG Steering Committee, leads our efforts to advocate for Devon’s business interests. Our core value of integrity commits us to fulfill our advocacy role in compliance with all applicable laws, regulations and rules.
Important decisions about energy, the environment and the economy require accurate information and thoughtful deliberation at all levels of government. To encourage sound public policy, Devon seeks out and welcomes engagements with stakeholders who represent diverse viewpoints. For example, we’ve worked with stakeholders ranging from New Mexico state regulators to environmental groups such as the Environmental Defense Fund on methane regulations and flaring. Our vice president of public and government affairs is a member of the Congressional Hispanic Leadership Institute’s advisory board and engages with the Congressional Asian Pacific American Caucus, Congressional Black Caucus and other federal lawmaker groups.
In 2021, we’re taking this balanced approach on priority issues such as preserving our access to resources on federal lands and addressing potential state and federal legislation for carbon, methane and greenhouse gas emissions. We seek to help stakeholders understand the impacts of proposed policies on our day-to-day operations and longer-term business prospects, as well as the value of oil and gas production to governments and society. We plan to engage proactively to find sensible public policy solutions.
To make our views on regulations and laws known, Devon participates in business coalitions, industry associations, trade groups and advocacy organizations. We share information about industry issues with our employees to aid discussions with their friends and neighbors, and we encourage them to vote.
Devon employees are active in industry associations such as the Petroleum Alliance of Oklahoma, New Mexico Oil and Gas Association (NMOGA), Texas Oil and Gas Association (TXOGA), the Petroleum Association of Wyoming (PAW), North Dakota Petroleum Council, American Exploration and Production Council (AXPC) and the American Petroleum Institute (API).
As an example, a Devon employee is active on API’s Occupational Safety and Health Subcommittee, which proposed a voluntary safety program to elevate the overall safety performance of the onshore exploration and production industry. We’re proud to have a Devon representative sharing our values and contributing to industry best practices on this important industry committee.
Our public advocacy discussions often include Devon’s environmental, social and governance performance. We’ve steadily increased public disclosures on ESG performance in recent years, including in our comprehensive annual Political Activity and Lobbying Report. This report discloses the company’s expenditures for political contributions, 527 contributions, federal and state lobbying and the Devon Energy Corporation Political Action Committee (DECPAC). Since 2019, the report has disclosed the names of all trade associations we belong to and the non-deductible membership dues we pay. The board’s GEPP Committee reviews our political contributions to confirm alignment with Devon’s policies and objectives. We’ve reduced our advocacy and lobbying expenditures in the past few years as part of our overall cost-reduction efforts.
We communicate proactively, listen carefully and seek diverse opinions that challenge our thinking.