GOVERNANCE
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 have woven our commitment to environment, social and governance progress into our foundational values and 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 sustainability factors and encourage purposeful decision-making and participation. Our employee compensation program is tied to sustainability-related targets to further promote accountability across all levels of our organization.
Highlights
- Deepened Board engagement with field tours that focused on emissions reduction technology used in our operations and receptions to interact with employees at all levels involved in key initiatives
- Ensured alignment with our environment, social and governance objectives by tying our Scope 1 & 2 GHG emissions reduction target and new safety metric to compensation for all employees
- Broadened our Board diversity, adding six new independent directors since 2019
- Continued to take a leadership role in our trade organizations to advance ongoing initiatives to develop common industry environment, social and governance metrics and reporting standards
Governance
Structure
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.
Board of
Directors
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.
Pay-for-Performance Compensation
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.
Codes of
Conduct
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.
100% of Ovintiv employees signed our Business Code of Conduct in 2022.
Cybersecurity
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.
Political
Advocacy &
Involvement
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.
