ConocoPhillips

Human Rights

ConocoPhillips believes it is our responsibility to seek to understand and be understood by our stakeholders

Economic Transparency and Reporting

We endorse transparency in the extractive industries. We are a participating member of the Extractive Industries Transparency Initiative (EITI), one mechanism which seeks to ensure that natural resource wealth is an engine for economic growth that contributes to sustainable development and poverty reduction.

We remain actively involved in the EITI process and implementation in participating countries in which we operate. Currently, one country where we operate, Timor-Leste, has been assessed by EITI and found to be making “Satisfactory Progress,” the highest result possible. We are also engaged in exploration and/or production activities in Colombia, Indonesia, Norway, the United States and the United Kingdom, each of which are an EITI member country not yet assessed by EITI. Current EITI information can be found here.

We note that various other transparency initiatives have either been adopted or are under development in areas in which we operate, including the Dodd-Frank Act in the United States and the EU Accounting and Transparency Directives in the European Union. These initiatives include detailed mechanisms for payment transparency, which we believe can and should be accomplished in a manner that does not require companies to violate existing contractual and legal obligations and that (i) is fair to all participants in the extractive industries, (ii) does not place unreasonable administrative burdens and expenses on reporting companies (iii) does not place reporting companies at a strategic disadvantage as compared with non-reporting companies.