Valero Letter 2-25-15 JC 2

A letter from investors and the Union of Concerned Scientists (UCS) to Valero Energy Corporation requesting the disclosure of physical climate risks at its coastal refineries. The authors argue that Valero has failed to report material risks related to sea level rise and storm surge in its SEC Form 10-K filings, despite the vulnerability of facilities in Texas and Louisiana and previous disclosures made by the former owner of the Meraux refinery.

• Valero Energy Corporation has not disclosed physical risks from climate change in its SEC Form 10-K filings, despite the vulnerability of its coastal refineries and guidance from the U.S. Securities and Exchange Commission (SEC) issued in 2010 regarding the reporting of material regulatory, physical, and indirect risks.
• The Meraux, Louisiana refinery is identified as having apparent risk from sea level rise and enhanced storm surge; this facility suffered a spill during Hurricane Katrina in 2005 and further damages in 2008.
• While the previous owner of the Meraux facility, Murphy Oil, disclosed physical risks from climate change in its 2010 SEC Form 10-K, Valero has not done so since acquiring the facility on October 1, 2011.
• Several other Valero facilities are identified as facing apparent physical financial risks from storm surges and sea level rise, including the Port Arthur, Houston, Texas City, and Corpus Christi facilities in Texas, as well as the St. Charles refinery in Louisiana.
• Potential material impacts on production and cash flows include facility closure or downtime due to direct damage, danger to employees, environmental contamination releases, and disruptions to power supply, distribution centers, or supply chains.

APA

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

Chicago

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

Wikipedia

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

BibTeX

@misc{unionofconcernedscientists2015valero, author = {{Union of Concerned Scientists}}, title = {{Valero 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/valero-letter-investors.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }