Occidental Adopts Human Rights Policy
LOS ANGELES, CA// Dec. 7, 2004// Occidental Petroleum Corporation (NYSE: OXY)
announced that its board of directors today adopted a corporate-wide human rights
policy. The policy reaffirms Occidental's respect for and promotion of human
rights as recognized in the Universal Declaration of Human Rights, the International
Labour Organization Declaration on Fundamental Principles and Rights at Work,
the Voluntary Principles on Security and Human Rights and the Global Sullivan
Principles. The policy specifically provides for social risk assessments prior
to the onset of operations in locations outside the United States; the inclusion
of human rights provisions in foreign contracts; human rights training programs
for employees and security contractors; and background checks on security personnel.
"While support for human rights has been an integral part of the way we
have managed our business, this policy explicitly spells out our commitment
to support human rights, strengthens our existing Code of Business Conduct and
establishes an important milestone for our stockholders, our company and the
industry," said Dr. Ray R. Irani, Occidental's Chairman and Chief Executive
Officer. "The policy not only reinforces our commitment to human rights
protections, it also incorporates specific proactive measures into our daily
business activities."
Occidental's Human Rights policy was developed in collaboration with representatives
from the California Province of the Society of Jesus, the New Orleans Province
of the Society of Jesus, Brethren Benefit Trust, Catholic Equity Fund, Christian
Brothers Investment Services, CHRISTUS Health and other members of the Interfaith
Center on Corporate Responsibility, a thirty-three year old coalition of 275
faith-based institutional investors including religious communities, denominations,
pension funds, healthcare systems, foundations and dioceses with combined portfolios
worth an estimated $100 billion.
Sister Doris Gormley Socially Responsible Investment Consultant to the National
Jesuit Conference, said, "Occidental's human rights policy is one of the
stronger company policies on record. It positions human rights as a vital component
in the company's business decisions. The challenge now is to implement the policy
on the ground in difficult environments like Colombia and to devise an objective
process to measure and verify policy compliance in all company operations. As
stockholders we are confident that Occidental will bring the same energy and
commitment to this work as they have demonstrated during policy development."
Occidental's board of directors also expanded the scope of the newly named Nominating,
Corporate Governance and Social Responsibility board committee to include oversight
for the company's social responsibility efforts, including human rights.
CONTACT:
ICCR:
Rev. David Schilling, Program Director, Promoting Human Rights Working Group,
ICCR, 212-870-2928;
Doris Gormley sfcc, 301-249-0541; on the web: www.njcir.org
Occidental:
Lawrence P. Meriage (media), 310-443-6562
Kenneth J. Huffman (investors), 212-603-8183
On the web: www.oxy.com