2025 Valero Report on Guiding Principles - Flipbook - Page 66
BOARD OVERSIGHT
Code of Business Conduct and Ethics
Compliance, Ethics and Corporate
Conduct
Regular Board and Committee Updates
and Reports
Generally, at most regularly scheduled meetings of the
Audit Committee, Valero’s Chief Compliance Of昀椀cer
(who reports directly to our General Counsel) provides
a compliance update on Valero’s global compliance
and ethics program, including updates with respect to
Valero’s compliance and ethics-related policies, initiatives,
and trainings. The chair of the Audit Committee then
provides a committee report to the full Board on the
matters presented during this compliance and ethics
update. Under the Audit Committee’s charter, the Chief
Compliance Of昀椀cer has the authority to communicate
directly to the Audit Committee and does so regularly.
Monitoring of Global Compliance and Ethics
Program
The Audit Committee monitors Valero’s global compliance
and ethics program and its effectiveness in detecting and
preventing violations of Valero’s Code of Business Conduct
and Ethics and other company policies, applicable law,
and other misconduct. Valero has processes in place to
vet its business partners, including expanded compliance
checks and sanctions screening.
Anonymous Ethics Helpline
The Audit Committee has also established procedures
for the receipt, retention, and treatment of complaints
regarding accounting and auditing matters, and other
suspected or known unethical behavior or violations of
Valero’s company policies (such as its Code of Business
Conduct and Ethics), including a method for anonymous
submission through a third-party operated “Ethics
Helpline” that is available in English, French, and Spanish.
Valero provides employees, directors, business partners,
and others in its supply chain access to this external
helpline and strives to ensure that reports into the Ethics
Helpline are followed up on, kept con昀椀dential, and can be
made anonymously and without fear of retaliation.
66
Valero's Code of Business Conduct and Ethics is reviewed
and approved by the Board and Valero’s executive
management team. Our Code provides guidance for our
day-to-day work and the behavior expected of us, as well
as our legal and ethical responsibilities. The Code focuses
on the following commitments:
COMMITMENT TO EACH OTHER
•
•
•
•
•
Health, Safety and Environment
Workplace Environment
Community and Environmental Justice
Human Rights
Data Privacy
COMMITMENT TO BUSINESS PARTNERS
• Conduct Guidelines for Business Partners
• Gifts and Entertainment
COMMITMENT TO SHAREHOLDERS
•
•
•
•
•
•
Business Records and Internal Controls
Protecting Company Assets
Information Security
Con昀氀icts of Interest and Corporate Opportunities
Insider Trading
Communications
COMMITMENT TO THE MARKETPLACE
•
•
•
•
•
•
Anti-Bribery and Anti-Corruption
Anti-Money Laundering
Antitrust, Fair Dealing and Competition
International Trading
Anti-Boycott
Participating in Political Activities
More than 635,000 hours of employee
training were conducted in 2024 on
compliance-related matters, including
health, safety and environment, regulatory
matters, antitrust, anti-bribery, use of ethics
helpline, data privacy and information
security, among others.
Our Ethics Helpline is a con昀椀dential external
helpline operated by a trained third party. It is
available toll-free, 24 hours a day, seven days a
week and in local languages.
Do you have a compliance question? Contact the Compliance Department
Reports are investigated fairly and thoroughly.
If calling from elsewhere, use the numbers listed on EthicsHelpline.Valero.com.
at LegalCompliance@Valero.com or 210-345-5800
Do you wish to remain anonymous? Con昀椀dential helpline available at
EthicsHelpline.Valero.com or 855-219-2495 within the U.S. & Canada
