Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Partnership with a third-party company to recover and convert carbon dioxide produced at the Delaware City Refinery into a saleable commodity, eliminating millions of pounds of CO2 from the environmental footprint.
• Repowered a locomotive at the Toledo Refinery with ultra-low-emissions engines, reducing nitrogen oxide and particulate matter emissions by up to 90%, fuel consumption by up to 70%, noise levels by 85%, and increasing efficiency by up to 75%.
• Conversion of Vapor Combustion Units (VCU) at the Paulsboro and Knoxville Terminals to Vapor Recovery Units (VRU), recovering approximately 1,000,000 gallons of usable gasoline per year.
• Continuous reduction of waste through reuse, recycling, and source reduction efforts, including the reclamation of precious metals from spent catalysts.

Social Achievements

• Providing a comprehensive benefits package including health insurance, retirement plans, and income-protection plans; on-site gyms at most refineries; and discounted memberships at fitness centers.
• Offering a range of training opportunities, including a partnership with LinkedIn Learning and a tuition reimbursement program.
• Active community engagement through Community Advisory Panels (CAPs), open communication with stakeholders, sponsorships of local activities, and educational support for students.
• Multiple refinery-specific initiatives supporting local communities (detailed in Refinery Spotlights).

Governance Achievements

• Establishment of an ESG Executive Committee to direct company ESG initiatives.
• Board of Directors with eight of nine members being independent, and an average tenure of 6 years.
• Adoption of a Code of Business Conduct and Ethics, promoting honesty, accountability, and equal employment opportunity.
• Implementation of a whistleblower program.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: SASB Oil and Gas Refining and Marketing Standard

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Renewable diesel fuel production facility under construction at Chalmette Refinery; exploring clean hydrogen as a future fuel.

Awards & Recognition

• Multiple American Fuel & Petrochemical Manufacturers Safety Achievement Awards (various refineries)

Environmental Metrics

ESG Focus Areas

• Safety
• Environmental Responsibility
• Inclusion and Diversity
• Community Engagement
• Development of renewable and other clean fuels

Environmental Achievements

• Commenced production of renewable fuels in July 2023 at St. Bernard Renewables LLC (SBR)
• SBR has ~320,000,000 gallons of annual renewable fuels production capacity
• Potential to generate 500 million RINs annually at SBR
• Advanced processes and technology to further reduce greenhouse gas emissions

Social Achievements

• Engaging local communities through educational programs, philanthropic efforts and volunteering
• Promoting inclusion and diversity across the company

Governance Achievements

• Simplified corporate structure with buy-in of PBF Logistics LP (2022)
• Reinstated and increased regular quarterly dividend
• Increased share repurchase authorization in February 2024

Climate Goals & Targets

Environmental Challenges

• Risk that expansion into renewable fuels may not occur on expected timeframes or at all
• Risks associated with obligation to buy Renewable Identification Numbers and related market risks
• Risks relating to the securities markets generally
• Impact of changes in inflation, interest rates and capital costs

Mitigation Strategies

• Disciplined capital allocation
• Maintain conservative balance sheet and strong liquidity
• Investing to drive long-term earnings growth and enhance assets to promote shareholder returns
• Strategic partnership with Eni for St. Bernard Renewables

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities

• Development of renewable and other clean fuels
• Clean hydrogen production

Sustainable Products & Innovation

• Renewable diesel
• Clean hydrogen

Environmental Metrics

ESG Focus Areas

• Safety
• Environmental Responsibility
• Renewable Fuels Development
• Inclusion and Diversity
• Community Engagement
• Greenhouse Gas Emissions Reduction

Environmental Achievements

• Commenced production of renewable fuels at St. Bernard Renewables in July 2023
• ~320,000,000 gallons of annual renewable fuels production capacity at St. Bernard Renewables

Social Achievements

• Engaging local communities through educational programs, philanthropic efforts and volunteering
• Promoting inclusion and diversity across the company

Governance Achievements

• Simplified corporate structure with buy-in of PBF Logistics LP (2022)
• Reinstated and increased regular quarterly dividend
• Increased share repurchase authorization in February 2024

Climate Goals & Targets

Environmental Challenges

• Risks associated with our obligation to buy Renewable Identification Numbers and related market risks related to the price volatility thereof
• The risk that our expansion into the renewable fuels space, including renewable diesel production, may not occur on expected timeframes or at all, and we may not realize expected benefits from any such projects

Mitigation Strategies

• Strategic partnership with Eni for St. Bernard Renewables, bringing global expertise in feedstock sourcing and renewables production
• Disciplined capital allocation and focus on core business while pursuing disciplined growth and diversification opportunities

Supply Chain Management

Climate-Related Risks & Opportunities

Opportunities

• Development of clean hydrogen and renewable electricity

Sustainable Products & Innovation

• Renewable fuels