The Franciscan Sisters of Allegany, with support from the Investor Advocates for Social Justice and co-filers, have filed a shareholder proposal requesting that Chevron Corporation publish a report evaluating the effectiveness of its policies, practices, and performance indicators in respecting Indigenous Peoples’ rights. The report should assess whether Chevron’s policies, practices, and performance indicators meet the highest internationally recognized standards for Indigenous Peoples’ rights, including the UN Declaration on the Rights of Indigenous Peoples (UNDRIP), including the right to Free, Prior, and Informed Consent, and should explain how the company implements these commitments across its operations and addresses past harms.

Chevron publicly states its support for the UNDRIP. However, the company’s operations and legacy assets have been linked to serious violations of Indigenous Peoples’ rights across multiple regions. These concerns raise questions about whether Chevron’s current policies are effective in preventing or mitigating adverse impacts, creating reputational, legal, operational, and financial risks for shareholders.

Chevron’s US refineries remain connected to Amazon crude extraction, sourcing oil from Indigenous territories in Ecuador despite court protections. The El Segundo refinery has historically processed nearly 25% of US Amazon crude. In 2025, following protests by Waorani, Kichwa, and A’i Kofan leaders at a Chevron refinery, the California Senate passed Resolution 51 calling for an investigation into Amazon crude imports and urging a phase-out. This demonstrated how Indigenous leadership can influence state policy and heighten supply-chain and reputational risk.

Failure to respect Indigenous Peoples’ rights creates a clear material risk for Chevron. Projects without meaningful engagement face protests, legal challenges, and delays. Negative media coverage and civil society scrutiny can erode Chevron’s social license, while unresolved community conflicts undermine the long-term viability of operations. Investors increasingly expect strong Indigenous Peoples’ rights governance and credible implementation mechanisms. Weak or ineffective policies heighten the risk of exclusion by responsible investors and increase long-term volatility.

A company-wide evaluation of Chevron’s Indigenous Peoples’ rights policies, practices, and performance indicators would give investors critical insight into whether Chevron’s commitments effectively manage material risk and whether the company is aligned with international standards. This evaluation would help protect Indigenous communities and long-term shareholder value.