2025 Valero Report on Guiding Principles - Flipbook - Page 2
ON THE COVER: Valero volunteers at a Habitat
for Humanity build event in San Antonio.
Contents
3 • Introduction
3
A Message from our CEO
4
Our Business
6
Highlights
8
Valero's Strategy
10
Low-Carbon Innovation
16
GHG Emissions
20 • Safety
30 • Environment
Please visit www.valero.com to learn more about our company. The terms
“Valero,” “we,” “our” and “us,” when used herein, may refer to Valero Energy
Corporation (NYSE: VLO), to one or more of our consolidated subsidiaries and/or
consolidated joint ventures, or to all of them taken as a whole. The term “DGD,”
when used in this report, may refer to Diamond Green Diesel Holdings LLC, its
wholly owned consolidated subsidiary, or both of them taken as a whole.
Policies and Procedures
This report includes statements regarding various policies, values, standards, approaches,
methodologies, procedures, processes, systems, strategies, programs, initiatives,
assessments, technologies, practices, metrics and similar measures related to our
sustainability and climate-related data, disclosures, targets, long-term ambition, updates,
actions, performance, and compliance systems (collectively, “Policies and Procedures”). While
we believe that our Policies and Procedures re昀氀ect our business strategy and are reasonable
at the time made or used, as our business or applicable methodologies, standards, or
regulations develop and evolve, we may revise or cease reporting or using certain Policies
and Procedures if we determine that they are no longer advisable or appropriate, or we
are otherwise required to do so. References to Policies and Procedures in this report do not
represent guarantees or promises about their ef昀椀cacy or continued implementation or use,
or any assurance that any such Policies and Procedures will apply in every case. Such Policies
and Procedures are subject to risks, uncertainties and other factors, some of which are
beyond the control of Valero and are dif昀椀cult to predict, and there may be circumstances,
factors or considerations that may cause different implementation thereof, revised or
discontinued use thereof or exceptions in speci昀椀c instances. Please see Forward-Looking
Statements below and the risk factors in our Annual Report on Form 10-K for the year ended
December 31, 2024.
Forward-Looking Statements
40 • Community
48 • People
58 • Governance
70 • Appendix
70
SASB Report
72
Notes
73
Cautionary Statements
Regarding Forward-Looking
Statements
74
2
Non-GAAP Disclosures
This report contains forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 (the Securities Act) and Section 21E of the Securities Exchange Act of
1934 (the Exchange Act), including, but not limited to, statements about our Policies and
Procedures. Please see the Cautionary Statement Concerning Forward-Looking Statements
set forth on page 73 of this report, which includes important information regarding the
identi昀椀cation of forward-looking statements used in this report and important factors that
could cause actual results to differ materially from those in the forward-looking statement.
Additional Information About This Report
This report and the disclosures herein are not “soliciting material,” are not deemed 昀椀led with
the Securities and Exchange Commission (SEC), and are not to be incorporated by reference
into any of Valero’s 昀椀lings under the Securities Act or the Exchange Act, whether made before
or after the date of this report and irrespective of any general incorporation language therein
unless speci昀椀cally identi昀椀ed in such 昀椀ling as being incorporated by reference in such 昀椀ling.
This report discusses or references other Valero reports, policies and disclosures that are
available on Valero’s website, as well as certain third-party conclusions, reports and data
(the foregoing, External Materials). Such External Materials are not themselves a part of this
report. Furthermore, references in this report to website URLs are intended to be inactive
textual references only and the content of such websites is not a part of this report.
This report represents a good faith effort by Valero to address its efforts, initiatives and
performance on an array of diverse and broadly de昀椀ned sustainability and climate-related
topics and other matters of interest to certain stakeholders. The inclusion of or reference to
any such information in this report is not an indication that this information or statements
related thereto are necessarily material to investors or require disclosure in our 昀椀lings with the
SEC.
The information provided in this report is intended for interested readers in the
United States. Because science is evolving, and comprehensive review is not
feasible, references and analyses provided are merely intended as an aid to
readers to help understand Valero's approach and considerations in our business
strategy.
