Devon Joins Index of Socially Responsible Companies
KLD Research and Analytics has selected Devon to be included in its Domini 400 Social Index of companies recognized for their performance as social and environmental stewards. The independent research and investment firm added Devon to its exclusive index in January 2006, following a comprehensive examination of corporate operations and stakeholder programs.
KLD is an independent investment research firm serving the investing community with strategies based on corporate social and environmental performance. The Domini Social Index was launched in 1990 as the first benchmark for equity portfolios evaluated according to social and environmental performance. It consists of 400 companies that demonstrate leadership in corporate social responsibility.
Devon’s membership in the Domini index illustrates the company’s level of commitment to environmental and social issues. These issues are of substantial importance to Devon and to a growing number of investors.
In considering Devon for membership, KLD examined the company’s community outreach, its employee relations programs, its diversity, its human rights policies and its commitment to good corporate governance. The group also considered Devon’s safety and environmental records.
KLD cited areas such as charitable giving, safety performance, cash profit sharing, and retirement benefits as strengths. It noted the company’s tutoring, mentoring and other volunteer programs as well as the community ambassador program. The organization credited Devon’s many state and federal awards honoring the company for safety and environmental accomplishments. The firm also recognized Devon’s voluntary participation in greenhouse gas emission reduction programs. Devon is a member of the U.S. Environmental Protection Agency’s Natural Gas STAR Program and the Canadian Standards Association’s Canadian Greenhouse Gas Challenge Registry.
Inclusion in the Domini 400 index is gratifying, considering the value Devon places on good corporate citizenship. The company is dedicated to achieving success as an energy producer and delivering value to its shareholders. But without integrity, our business accomplishments would be hollow. We are proud to be associated with an index of companies that places as much value on being a good neighbor as it does on investment merits.