Chevron

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Project for Business Ethics

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  • Refer the Shareholders, stakeholders
  • Chevron

    1. 1. Morning Meeting: 2/17/11<br />CEO: Christopher Choing<br />CFO: Sulay Desai<br />
    2. 2. History of Chevron<br />Merged with Gulf Oil Corp. in 1985.<br />Merged with Texaco in 2001.<br />In 2002, Chevron became the second largest U.S.-based energy company.<br />
    3. 3. Today’s Issues<br />Chevron was found guilty and charged 8.2 billion dollars in fines for pollution and restoration.<br />Chevron initially denied the charges of polluting water and soil.<br />Many are suffering from health problems in Amazon.<br />
    4. 4. Health Issues<br />Polluted water has caused:<br />Cancers<br />Birth Defects<br />Minor Illnesses<br />Locals in the Amazon rely on the water to live<br />Drinking water<br />Bathing water<br />Cooking water<br />
    5. 5. The Ethical Question<br />Should we accept and take responsibility to what has happened?<br />Should we help pay for clean up in Ecuadorian Amazon.<br />
    6. 6. Our response: Yes!<br />We will pay the 8 billion dollars to restore a healthy lifestyle to the people of the Amazon.<br />Here’s a breakdown of the amount of money, according to a copy of the verdict:<br />$5.39 billion: To restore polluted soil<br />$1.4 billion: To create a health system for the community<br />$800 million: To threat sick people affected by pollution<br />$600 million: To restore polluted sources of water<br />$200 million: To recover native species<br />$150 million: To transport water from other sites to supply community<br />$100 million: To create a community cultural reconstruction program<br /> Total: $8.64 billion<br />
    7. 7. Plans and Considerations<br />Texaco… Take responsibility<br />Do more research<br />Chevron will take a loss financially, but we are still a growing company<br />
    8. 8. Questions/Comments<br />
    9. 9. Sources<br />http://www.texacotoxico.org/eng/node/144<br />http://blogs.wsj.com/law/2011/02/14/a-breakdown-of-the-8-billion-chevron-judgment/<br />http://online.wsj.com/article/SB10001424052748703584804576144464044068664.html?mod=WSJ_business_whatsNews<br />http://chevrontoxico.com/<br />http://amazonwatch.org/work/ecuador<br />http://news.mongabay.com/2011/0214-hance_chevron.html<br />

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