Chevron 2003 Annual Report Download - page 22

Download and view the complete annual report

Please find page 22 of the 2003 Chevron annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 90

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90

20
Q&A
EXPLORING SOLUTIONS YOU HAVE SAID THAT GLOBAL POVERTY IS THE DEFINING
CHALLENGE OF THE 21ST CENTURY. WHY IS THIS IMPOR-
TANT TO CHEVRONTEXACO AND ITS STOCKHOLDERS?
Business must care about world poverty not only for ethi-
cal and moral reasons, but also because it is in our fi nan-
cial interest to care. Poverty is at the root of many of the
intractable problems that the world is experiencing today,
including disease and political instability. It is estimated
that one-half of the world’s population exists on the equiva-
lent of $2 a day, and more than a billion and a half people
do not have access to electricity. Over the next 50 years,
there will be another 3 billion people added to the planet,
most of whom will be in the developing world. Clearly, our
business objectives are tied to economic growth around the
globe. Until basic human needs can be met, it will be a dif-
fi cult world in which to do business, much less to create new
markets and growth opportunities.
WHAT MUST BE DONE TO RAISE THE STANDARD OF LIVING
OF THE WORLD’S POOREST COUNTRIES? HOW CAN A COM-
PANY LIKE CHEVRONTEXACO CONTRIBUTE?
Progress depends on all of us working together in part-
nership – governments, multilateral organizations,
nongovernmental organizations and business. There’s a
role for each. Governments must do the things only they
can do – advocate and practice good governance, provide
education and health care, and create a stable investment
climate. Multilateral organizations such as the World Bank,
the International Monetary Fund and the World Trade
Organization should work with governments and help them
establish good policies. Nongovernmental organizations
IN TODAY’S WORLD, BUSINESS PERFORM-
ANCE IS INCREASINGLY MEASURED IN
SOCIAL AS WELL AS FINANCIAL TERMS.
AS CEO DAVE O’REILLY PUTS IT, “THE WAY
WE ACHIEVE RESULTS IS AS IMPORTANT
AS THE RESULTS THEMSELVES.” HERE, HE
ADDRESSES SEVERAL OF THE COMPLEX
ISSUES OUR INDUSTRY FACES AS IT OPER-
ATES IN SOME OF THE MOST SOCIALLY
AND ECONOMICALLY CHALLENGING AREAS
OF THE WORLD.