Welcome to DCP Midstream’s Inaugural Sustainability Report

Wouter van KempmenToday, the oil and gas industry is transforming at a pace not seen in recent history, and DCP Midstream is proud to be leading the way through our talented people, optimized processes, and innovative technologies. As we look beyond the horizon, our strategic approach to ensuring long-term stakeholder value can be narrowed to two core areas of focus: operational excellence and sustainability.

We view operational excellence as the constant pursuit of comprehensive risk mitigation, maximum efficiency, and complete reliability in our operations and across all functions of our organization. Equally important, we view sustainability as the ability to achieve operational excellence responsibly and ethically, in a way that ensures the safety and development of our employees and communities, and the protection of the environment.

When we set out to create our first sustainability report, we knew that though the external publication is new to us, the concepts are not. We have long been committed to the Environmental, Social, and Governance (ESG) tenets of sustainability. This report, which was updated in Sept. 2020, to include full-year 2019 reporting data, outlines many priorities and strategies that are central to our approach and have proven to be successful for our people, our company, and our communities.

We are proud to share the great outcomes of our existing efforts and are excited to advance our efforts even more in the future. Highlights of our report include:
  • Recognized as the safest midstream company by GPA Midstream, with a best-in-class employee Recordable Injury Rate of 0.30 in 2018
  • Recognized as a Forbes Best Midsize Employer for the second year in a row
  • Defined DCP Cultural Hallmarks: Trust, Connect, Inspire, Solve, and Achieve
  • Raised and contributed over $1.4 million for nonprofit causes in 2019, with an enhanced focus on local and regional giving
  • Eliminated Incentive Distribution Rights (IDRs).

Uniting the two concepts of operational excellence and sustainability in another way, this year we formally defined our company’s purpose as Building Connections to Enable Better Lives.

Throughout the many iterations of this company over nine decades, we have always built connections to enable better lives. We have built connections from wellheads to gas plants, and now from gas plants to end use markets along the Gulf Coast. We have also built connections with our employees and with our communities. It is the work we do, the connections we build, that enables better lives.

Throughout the industrial era and into modern times, hydrocarbons have provided 80% of our global energy. We are helping to provide that energy in the form of clean natural gas, and it is making an incredibly positive impact as we undertake our role in the energy transition. Today, one billion people still have no access to energy. This is extraordinary, especially when you think about the day-to-day impact energy has on our lives. It is undeniable that we have a role in changing this staggering statistic through our critical position in the energy value chain. For those in our country who are impoverished, to those abroad who are clawing up from energy poverty, energy is an incredible driver for improving quality of life. We have a strong focus on transformation at DCP, and there is nothing more transformational than access to affordable, reliable, and safe energy. We are incredibly fortunate to play a role in helping to achieve this higher purpose, and I am tremendously proud of the work our team does each and every day.

With this report, we chart the beginning of DCP’s sustainability journey. We have identified our material issues, risks, and opportunities for our business and put a governance structure in place that includes a Sustainability Council. We have set ambitions for continuous transparency and accountability and we look forward to discussing our progress.

I encourage you to read more about our company, performance, and sustainability focus and invite you to share your thoughts with us as we move forward. Thank you for your interest in DCP Midstream.

Wouter van Kempen
Chairman, President, & CEO