Approach to Sustainability
Advancing our sustainability progress is an important priority for both Concho and our stakeholders, and our goal is to embed sustainability at every level of the Company. Our corporate responsibility activities are organized under five primary pillars:
- Upholding good governance practices
- Prioritizing safety and health
- Protecting the land, water and air through responsible development
- Investing in our workforce
- Supporting projects that contribute to the long-term growth of our communities
We prioritize the health and safety of our people, as demonstrated by our safety performance, which shows a trend of consistently low incident rates.
Safeguarding the Environment
We are reducing emissions and improving our air quality performance, demonstrated by approximately a 60% decrease in methane emissions in 2019 and nearly a 25% reduction in greenhouse gas intensity since 2017.
Encouraging Water Reuse
We are advancing our water recycling efforts, which resulted in nearly a 70% increase in reused water volumes in 2019, compared to 2018.
Investing in Our Team
We are investing in our team and creating a diverse and inclusive culture, which has resulted in recognition as a Great Place to Work for five consecutive years and in 2019 recognition as a Great Place to Work for diversity.
Investing in Our Community
The wellbeing of our local community is important and guides our approach to philanthropy and giving back. We invested more than $5 million in Permian Basin communities during 2019.
Since 2018, we have included key sustainability performance measures within our compensation structure, which we believe strengthens the integration of sustainability into our operations and strategic direction.