Devon communicates directly with shareholders to understand their interests and needs and to convey our business strategy and plans.


We believe having the confidence of our shareholders is important to our success. We therefore engage shareholders proactively through outreach as well as responsively to address their issues. Devon senior leaders meet periodically with shareholders and report to our board of directors about the key themes and interactions. In recent years, shareholder engagements led Devon to report our ESG performance more completely and transparently. We have strengthened corporate governance and adjusted executive compensation incentives.

We recognize that ESG matters are increasingly important for Devon and our stakeholders. Our ESG Steering Committee, which is composed of senior-level leaders from throughout the company, provides leadership and direction as we seek to deliver on our commitments to our various stakeholder groups. One of the committee’s primary activities in 2018 was preparing Devon’s Climate Change Assessment Report to better assess and communicate the potential long-term impacts of a possible carbon-constrained future. Under the committee’s direction, Devon also published our 2019 Political Activity and Lobbying Report with enhanced disclosures and our 2018 Sustainability Report. Our management and board share our stakeholders’ high expectations for performance in ESG areas and receive regular updates on the committee’s findings and activities.

In 2018, Devon participated in numerous ESG-focused surveys and assessments, including those from Sustainalytics, Just Capital, CDP and Institutional Shareholder Services’ (ISS). In addition to making it easier for stakeholders to benchmark our progress, these assessments help us sharpen our focus on transparency and improve our ESG performance. Our third-party survey rankings indicate we're outperforming most of our peers in the ESG arena. Sustainalytics ranked Devon’s ESG performance in the top 15% in our peer group and ISS ranked our combined ESG score above all but one of our peers.

JUST Capital’s newest rankings have Devon third overall and first in environmental performance among 32 oil and gas companies, and the CPA Zicklin Index of corporate political disclosure and accountability ranks Devon in the second of five tiers. Devon has also been named to the Dow Jones Sustainability Indices, in collaboration with RobecoSAM.

Devon received proposals for shareholder consideration and voting at the 2019 annual meeting. Following dialogue with the proponents, two of the proposals were withdrawn because of our existing activities or a shift in approach helped satisfy the proponent’s request. No shareholder proposals appeared in the proxy for our 2019 annual meeting.

With guidance from our ESG Steering Committee, we’re continuing our engagements to ensure we deliver on our commitments to stakeholders.