Chevron Letter 2-25-15_JC_2

Investors and the Union of Concerned Scientists (UCS) have formally requested that Chevron Corporation improve its public disclosures regarding the physical risks climate change poses to its coastal refineries. The authors argue that Chevron's SEC Form 10-K filings fail to address material risks such as sea level rise and enhanced storm surges, despite the vulnerability of specific sites like the Pascagoula, Mississippi and Kapolei, Hawaii refineries. They highlight that the 2005 damage to the Pascagoula refinery from Hurricane Katrina demonstrates the potential for material impacts on production and cash flows.

• Chevron has failed to disclose physical risks from climate change in its SEC Form 10-K filings, despite the vulnerability of its coastal refineries to sea level rise and enhanced storm surges.
• The Union of Concerned Scientists identified specific physical risks from climate change at Chevron's refinery in Pascagoula, Mississippi.
• The Pascagoula, Mississippi and Kapolei, Hawaii refineries are identified as vulnerable facilities where storm surges and sea level rise represent an apparent physical financial risk.
• Physical climate impacts can lead to material financial consequences, including diminished refining utilization rates, facility closure, supply chain disruption, and power supply failure.
• The 2005 impact of Hurricane Katrina on the Pascagoula refinery serves as evidence of the potential for major damage and extended operational shutdowns.

APA

Union of Concerned Scientists (2015). Chevron Letter 2-25-15_JC_2. https://www.ucsusa.org/sites/default/files/attach/2015/02/chevron-letter-investors.pdf

Chicago

Union of Concerned Scientists. Chevron Letter 2-25-15_JC_2. 2015. https://www.ucsusa.org/sites/default/files/attach/2015/02/chevron-letter-investors.pdf.

Wikipedia

{{cite press release |author=Union of Concerned Scientists |title=Chevron Letter 2-25-15_JC_2 |date=25 February 2015 |url=https://www.ucsusa.org/sites/default/files/attach/2015/02/chevron-letter-investors.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{unionofconcernedscientists2015chevron, author = {{Union of Concerned Scientists}}, title = {{Chevron Letter 2-25-15\_JC\_2}}, publisher = {Union of Concerned Scientists}, year = {2015}, month = feb, url = {https://www.ucsusa.org/sites/default/files/attach/2015/02/chevron-letter-investors.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }