2026 Valero Report on Guiding Principles - Report - Page 53
Introduction
Safety
Environment
Employees
Community
Governance
Appendix
Political Engagement
Valero believes that constructive participation in the political process is an important means of enhancing
stockholder value and promoting good corporate citizenship.
Board Oversight
The CEO and the General Counsel review and approve recommendations by Valero’s government affairs team
on political contributions and lobbying activities. Additionally, the Sustainability and Public Policy Committee is
responsible for assisting the Board with oversight of Valero's political contributions and lobbying activities and
receives and discusses, at least once annually, a formal report from management on these activities.
Policy Advocacy
As part of our engagement, we may advocate directly or with trade associations on issues that affect our
business and the energy industry. Our trade association participation focuses on being an active member of
business communities where we work and live. Through this involvement, we learn and share best practices from
safety and environmental, to labor and technologies, while also promoting dialogue and advocacy for positions
that are in the best interest of our business.
Valero’s Employee Political Action Committee (VALPAC)
Valero offers certain eligible employees and shareholders an opportunity
to participate in the U.S. political process by contributing to VALPAC.
Participation in VALPAC is completely voluntary. Over the years, participation
in VALPAC has grown steadily, making it one of the largest corporate
PACs and a top-tier energy PAC. Through VALPAC membership and active
participation in elections, employees show pride in strengthening our
business, the communities that give us license to operate and our country.
Political contributions made from VALPAC are reported monthly to the
Federal Election Commission, and are a matter of public record.
Political Participation
Valero complies with all applicable laws and regulations when considering
participation in the political process with corporate contributions.
A recent VALPAC event at
Valero's San Antonio
headquarters
Our political participation webpage provides extensive and updated political disclosures:
www.valero.com > Investors > Governance & Engagement > Political Engagement > Political Participation.
BOARD OVERSIGHT
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.
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