About This Report
The information in this report is from the 2016 calendar year.
- We published our 2015 Social Responsibility Report in June 2016.
- We will continue to report annually for each calendar year.
- The framework for defining the content of this report was determined using guidelines set by the Global Reporting Initiative (GRI) G4, Oil and Gas Sector Supplement.
- This year’s report is different in format from previous reports – it is web-based and cannot be downloaded in its entirety as a PDF.
Defining Report Content
- Tesoro conducted a materiality assessment in 2015 to identify the environmental and social issues that are most important to our stakeholders and to our continued success as a business.
- As our material issues had not substantively changed since this assessment, we used these same material issues to inform our report content for 2016. To read more about the materiality and stakeholder engagement process in 2015, please read the 2015 Social Responsibility Report.
- Per Tesoro’s materiality assessment and stakeholder engagement conducted in 2015, the following have been identified as priority issues:
- High priority issues are safety and asset integrity, oil spill prevention and response, air emissions, and business ethics and transparency.
- Moderate priority issues are hazardous and nonhazardous waste, water usage, climate change, community impacts, social investment, the extent to which Tesoro is an attractive employer, supply chain, workforce development, shared benefits, biodiversity and ecosystems, diversity and inclusion, renewable energy and human rights.
This 2016 Social Responsibility Report includes forward-looking statements within the meaning of the federal securities laws, including without limitation statements concerning: our operational, financial and growth strategies, including driving significant business improvements, achieving improvements in operations to mitigate risks and advance environmental performance, efforts to implement a comprehensive and consistent management approach focused on safe, compliant, reliable and efficient operations; creating significant shareholder value, creating Shared Value with our communities, partners and our Company, driving continuous improvement, and strategic projects and investments; our financial and operational outlook; our ability to execute on our strategic priorities and the expected timing and results thereof, including operational efficiency and effectiveness, safety improvements, environmental performance, value chain optimization, financial discipline, value-driven growth and high performing culture, as well as the potential impact of such execution; our financial position, liquidity and capital resources; and other aspects of future performance.
Although we believe the assumptions concerning future events are reasonable, a number of factors could cause results to differ materially from those projected. Our operations involve risks and uncertainties, many of which are outside of our control and could materially affect our results. For more information concerning factors that could affect these statements, see our annual report on Form 10-K, quarterly reports on Form 10-Q, and other SEC filings, available at http://www.tsocorp.com. We undertake no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise.
Ensuring Report Quality
- We are committed to providing a report that is transparent, understandable, consistent and reliable.
- We continue to build processes to improve the quality of our social, environmental and economic disclosure.
- This report has not been assured by an external assurance provider, and there are no plans to seek external assurance at this time.
Data In This Report
- Data included in this report is believed to be accurate at the time the report was published.
- Any updates to data reflected in this report will be identified in future reports.
- We report the previous three years of data for comparison purposes.
- Normalization of certain data, based on refinery throughput, is identified when used to assist in year-to-year comparison.
- We recognize any limitations to disclosed data in this report where applicable.
- The information in this report consists of all Tesoro entities, including Tesoro Logistics LP, for calendar year 2016, unless otherwise indicated.
- This report does not provide environment metrics for Tesoro Logistics assets, unless otherwise indicated.
Report Availability and Contact Method
- This report and past reports are available through our website: tsocorp.com/responsibility.
- Requests for further information or feedback can be sent to:
Social Responsibility Reporting, Corporate Affairs Department
19100 Ridgewood Parkway, San Antonio, Texas 78259