Our Approach to
Headquartered in Oklahoma City, Chesapeake Energy Corp. (NASDAQ: CHK) focuses on discovering and responsibly developing our large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the U.S.
Mboe net average daily production
Mmboe proved reserves
As of Dec. 31, 2020
About Our Disclosures
To best respond to the interests of our stakeholders, we reference several reporting guidelines when preparing our report content. These guidelines offer third-party recommendations of the most transparent and relevant content and allow for greater comparison among peer companies.
Our sustainability report content and performance data align with:
- Global Reporting Initiative (GRI) Sustainability Reporting Standards
- IPIECA’s Oil and Gas Industry Guidance on Voluntary Sustainability Reporting
- Value Reporting Foundation / SASB Standards: Oil & Gas – Exploration & Production
- AXPC’s ESG Metrics and Framework
An index that maps content to disclosures is available here.
As climate-risk concerns grow among stakeholders, we continue to increase our transparency around Chesapeake’s role in a lower carbon future. For this reason, we publish our Climate-Risk Analysis — guidance about the company’s projected performance based on a number of future energy scenarios. Our analysis also highlights the company’s goals and actions to manage and reduce emissions that impact climate change.
Our climate reporting follows the Task Force on Climate-related Financial Disclosures (TCFD) framework, which offers a consistent model to improve the reporting of climate-related financial information across all industries.
Determining Our Content Focus Areas
In addition to performing a disclosure gap analysis each year, we engage with our stakeholders to ensure our reporting topics are timely and material. By identifying the topics that matter most, we can enhance content placement and determine if certain topics need to be expanded for greater transparency.
We gather and analyze a combination of internal and external factors by conducting a four-step topic focus process. This process is modeled after GRI’s materiality guidance.
Topic Focus Process
Identify Topics of Interest to Stakeholders
Through a variety of inputs, including stakeholder engagement, peer benchmarking and a review of scorecards and reporting guidelines, we identify topics most relevant to our stakeholders.
Validate Stakeholder Representation
After collecting the data, we confirm the inclusion and fair representation of our primary stakeholder groups.
Prioritize Key Issues
We analyze our research, weighing each topic to determine those of greatest relevance and comparing them against our core values, business strategies and company priorities.
Determine Content Placement
In this final stage, we review each key topic and determine whether it should be included in our highlights document or in our web-based report.
2020 Key Topics of Interest
Our 2020 topic focus identified what we believe to be the six most relevant topics:
Enhanced Reporting Transparency
Updated our dedicated Governance section, highlighting governance reforms the company has instituted since emerging from its restructuring
Updated our Climate-Related Risk Analysis according to new IEA scenarios and included new emissions reduction strategies, metrics and targets; created a dedicated Climate website section
Enhanced our disclosures on various safety, spill and water management topics
Risk Management and Cybersecurity
Diversity, Equity and Inclusion (DEI)
Created a new webpage that better details our commitment to DEI; includes forward-looking initiatives to prioritize diversity within our restructured culture and supply chain
Created a dedicated webpage detailing our COVID-19 response, including employee health and business continuity updates
Performance Metrics and Targets
Our performance data table reflects our operations at year-end 2020 and includes year-over-year comparison providing a more thorough performance evaluation. Data included in this report were subject to review by our Internal Audit team and is believed to be correct at the time of reporting. For certain reporting elements, later changes in categorization could affect data and will be updated for accuracy on our website.
Our 2020 GHG emissions, GHG intensity, methane intensity, Total Recordable Incident Rate (TRIR) and net spill intensity data were reviewed and validated by a third-party organization. Also, responsibly sourced gas (RSG) offers an added layer of data assurance as part of the independent certification process.
Regarding our performance targets, Chesapeake is committed to lowering the carbon intensity of our products and meeting the near- and long-term pledges adopted by our Board of Directors in February 2021. We recognize the dynamic nature of the E&P sector and will enhance our pledges, if relevant, corresponding with any change in our asset mix, emergence of new emissions monitoring and quantification technology, and stakeholder priorities. Chesapeake is focused on emissions reductions, data efficacy, facility compliance and operational integrity while continuing to meet federally mandated reporting requirements.
A number of our past reports are available through the Media section on chk.com, along with other archived company publications.