Phillips 66.
PSX.US | Manufacture of refined petroleum products
Phillips 66 is a diversified energy manufacturing and logistics company. It operates through four segments: Refining, Midstream, Chemicals, and Marketing and Specialties. The Refining segment refines crude oil and other feedstocks into petroleum products such as gasoline, diesel, and jet fuel. The M...Show More
Better Health for All
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Phillips 66's core business in oil and gas results in severe, widespread negative health impacts, with its products causing health damage and generating nearly all revenue from activities with established negative health outcomes. The company has incurred over $789 million in penalties for environment-related offenses since 2000, including over $610 million for air pollution violations.
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Its operations create severe health externalities, with a projected 29% increase in greenhouse gas emissions at its Rodeo renewable diesel plant, and increased pollution exposure for a vulnerable community due to rising traffic.
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The company has a history of significant safety incidents, including 84 safety-related offenses since 2000
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and two pipeline safety violations in 2022 and 2024.
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Phillips 66 made a misleading claim about a 50% greenhouse gas reduction at its Rodeo plant, which was corrected to 1% only after regulatory scrutiny.
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However, the company does provide a public-facing website at its Denver Terminal with real-time pollutant levels and health impact information.
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Phillips 66 also pledged $1.5 million in fuel to Memorial Hermann Life Flight over five years, supporting critical care air transport services.
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The company's products are not health-related, and it does not engage in clinical trials, hold pharmaceutical patents, or produce food.
Fair Money & Economic Opportunity
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No evidence available to assess Phillips 66 on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
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The company's total recordable injury rate (TRIR) was 0.12 in 2024, matching its lowest-ever rate.
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The ratio of CEO total compensation to median employee compensation was 132:1 in 2024, with the CEO earning $22,615,351 and the median employee earning $171,593.
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Fair Trade & Ethical Sourcing
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Phillips 66 upholds human rights, aligning its operations with the Universal Declaration of Human Rights
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and conducting business in compliance with applicable laws and internal policies, including its Code of Business Ethics and Conduct and Business Partner Principles
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. The company publishes disclosures in line with the California Transparency in Supply Chains Act, detailing efforts to address slavery and human trafficking
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. Phillips 66 requires suppliers to certify that materials comply with laws concerning human rights, anti-slavery, and anti-human trafficking
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. Employees and contractors can report ethics violations via a 24/7 hotline
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. The company is committed to fostering a diverse supplier base, actively seeking to engage with businesses owned by minorities, women, veterans, LGBTQ+ individuals, and people with disabilities
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. It recognizes certifications from various councils for diverse suppliers and encourages prime suppliers to report diverse vendor spend through its Tier 2 Program
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. In 2021, Phillips 66 scored 5.0 out of 20 in the World Benchmarking Alliance's Social Benchmark
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, which was slightly above the average score of 4.5 across 2000 companies
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.
Honest & Fair Business
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Phillips 66 maintains a 24/7 ethics hotline and email account for anonymous reporting of potential ethics violations, with every submission reviewed
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. However, the provided information does not include evidence of independent investigation processes, training frequency, or program effectiveness metrics.
Kind to Animals
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Phillips 66 is an energy manufacturing and logistics company. Its core business operations do not typically involve activities such as animal testing, animal agriculture, or the use of animal-derived ingredients, which are the focus of most KPIs under the 'Kind to Animals' value. For these KPIs, no relevant evidence is provided in the articles. While the company has engaged in conservation projects, including investing approximately $4 million over 10 years to preserve or restore over 35,000 acres of wetlands
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and enrolling 67,842 acres in a monarch butterfly protection project
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, the rubric's tiers for 'wildlife_conservation_impact' are based on a percentage of revenue, which is not provided. Therefore, no KPIs can be scored based on the provided evidence and rubric, as specific quantitative thresholds or direct evidence for the defined KPIs are absent.
No War, No Weapons
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Phillips 66 has received significant contracts for fuel supply to military entities, including a $671.6 million contract from the Defense Logistics Agency concluding in April 2024
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and a $14 million payment from the Department of Defense for naval distillate fuel
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. These engagements indicate ongoing involvement in military logistics. The company has not divested from defense-related assets and continues to secure new military contracts. There is no evidence of exposure to controversial or banned weapons.
Planet-Friendly Business
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Phillips 66 completed the conversion of its San Francisco Refinery into the Rodeo Renewable Energy Complex, which processes renewable feedstocks.
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This complex is expected to reduce lifecycle carbon emissions by approximately 65%, equivalent to removing 1.4 million cars from California roads annually.
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A 30.2 MW solar facility will power the Rodeo complex, reducing its grid power demand by 50%
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and is projected to avoid 33,000 metric tons of carbon dioxide emissions annually starting in Q1 2025.
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In 2023, Phillips 66 allocated 50% of its $1.1 billion growth capital program to lower-carbon opportunities.
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However, the provided articles do not contain specific, company-wide quantitative data for total Scope 1, 2, and 3 emissions, renewable energy consumption percentage, water usage, waste diversion rates, or other defined KPIs. The emission reduction figures are facility-specific and forward-looking projections, and capital allocation to 'lower-carbon opportunities' is not explicitly aligned with the EU Sustainable Taxonomy as required by the rubric.
Respect for Cultures & Communities
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Phillips 66 has no reported cultural appropriation incidents. The company implemented active protection measures, including tribal consultation and cultural resource monitors, to safeguard artifacts and remains during pipeline repairs and soil remediation projects with the Osage Nation and Salinan Tribe.
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Safe & Smart Tech
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No evidence available to assess Phillips 66 on Safe & Smart Tech.
Zero Waste & Sustainable Products
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Phillips 66's Sweeny Refinery achieved ISCC PLUS certification in January 2023, enabling it to process pyrolysis oil from hard-to-recycle waste plastics into sustainable feedstocks like circular ethane, propane, and propylene
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. This initiative supports a circular economy for plastics by integrating waste materials into product inputs, demonstrating the application of circular design principles to several product categories. This also represents a waste reduction initiative by diverting waste plastics for reuse.