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Corporate Social Responsibility
Managing Challenges & OpportunitiesJust as Energen strives to conduct its business operations in an environmentally responsible manner, the Company is also aware of and experienced in responding to the business risks and opportunities of changes in market supply and demand generated by a variety of factors and events.
There are events or circumstances that may impact or alter the supply and demand of our product. Such events and circumstances are things we consider as we shape our business plans across a five-year planning window.
Environmental issues, including climate change, whether arising through natural occurrences or through the impact of human activities, could one day have a significant impact upon the operations of the Company, especially if they foster increased regulation or laws.
To the extent that environmental issues bring about changes that can either positively or negatively influence our business, those matters are addressed at the highest levels of our organization through our strategic planning process, led by our CEO on an annual basis. In addition, the strategic management of risk at Energen is handled through a multi-disciplinary process, where a variety of departments monitor and assess a broad range of risk factors on both a short- and long-term basis, then review within the strategic planning process.
On an operational level, a senior manager reporting to the senior vice president of operations, oversees environmental, health, and safety matters.
The Board exercises its risk oversight role through Board and Committee meetings. The Board has developed a matrix identifying key risks and specifying full Board or specific Committee oversight responsibility. Matters relating to employee safety and environmental regulation, for example, are reviewed with the full Board quarterly.