Corporate governance is critical to conducting our business with the highest ethical standards. We prioritize stakeholder interests by maintaining transparency and integrity and proactively managing risk. We also have woven our commitment to sustainability into our foundational values and made driving ESG progress a key pillar in our business strategy.
Strong, diverse and engaged leadership guide Ovintiv’s performance with forward-looking vision. Committee mandates from our Board of Directors assign strategic oversight of ESG factors and encourage purposeful decision-making and participation. Our employee compensation program is tied to ESG-related targets to further promote accountability across all levels of our organization.
- Deepened Board engagement with Permian field tour that focused on emissions reduction technology used in our operations
- Broadened our Board diversity, adding three new directors
- Refreshed our Board committee mandates, including appointing three new committee chairs
- Ensured alignment to our ESG objectives by tying our Scope 1 & 2 GHG emissions reduction target to compensation for all employees
- Continued to take a leadership role in our trade organizations to advance ongoing initiatives to develop common industry ESG metrics and reporting standards
Ovintiv leadership executes our rigorous corporate governance structure, upholding our values of trust, integrity, respect, sustainability and safety. Our Board oversees the management of our business, helping to ensure that appropriate governance and internal controls are in place for ethical corporate conduct.Read More
Our directors apply their significant business experience and judgment to make decisions in the best interest of Ovintiv stakeholders. We maintain a balanced, diverse Board committed to Ovintiv’s sustainable future. When identifying Board candidates, we consider skills, experience and diversity of thought so that many perspectives are represented in decision making.Read More
Our executive compensation program aligns pay with performance. Our compensation philosophy provides for a competitive base salary to attract strong talent, an annual bonus to align and motivate all employees around near-term company targets plus a long-term incentive plan that focuses executive management on strategic multi-year delivery and long-term value creation through share-based rewards.Read More
Our Business Code of Conduct and Supplier Code of Conduct set clear expectations for our employees and business partners. Our codes outline how we do business and engage with each other and the community. They also affirm our commitment to integrity, ethical business practices, sustainable operations and regulatory compliance.Read More
100% of Ovintiv employees signed our Business Code of Conduct in 2021.
Cyber threats are ever evolving, becoming more sophisticated in their tactics and techniques. We recognize the importance of continually improving our protections and effectively managing the risks associated with using digital technology across our business. By implementing cybersecurity standard requirements across our organization, we protect Ovintiv’s digital assets from security breaches that could negatively impact our business, reputation, team safety, compliance record and the environment.
Our Cybersecurity, Audit and Compliance and Corporate Risk Management teams work together as a multi-disciplinary group. This group is tasked with developing and implementing processes and technologies that assess risk, and recommending new technologies or changes to our existing assets. We measure our IT infrastructure and information security management system against the National Institute for Standards and Technology (NIST) cybersecurity framework. Based on a scorecard organized by categories — identify, protect, detect, respond and recover — we determine any areas that require additional resources to mitigate cybersecurity risk.
We also conduct an annual digital penetration test with a third-party specialist and other auditors. This test simulates an “attack” on our computer system and processes to identify security weaknesses. We report the results of this test to our Board Audit Committee and initiate any necessary changes.
Constructive public policy engagement is important as it enables a dialogue between individual companies, industries and government, regardless of political affiliation, to achieve results-based policy outcomes.Read More