ONEOK Inc. (OKE) — ESG & Values Scores

Environment story

ONEOK operates in fossil-fuel midstream infrastructure (natural gas, crude oil, NGL transportation and processing). The company discloses Scope 1&2 emissions from operations but lacks disclosed Scope 3 (product-use) emissions targets or intensity metrics. Net-zero target year is not publicly disclosed in available filings. The company acknowledges climate-change regulatory risks, ESG scrutiny and potential GHG emissions regulation, including methane fees (suspended under new administration). However, no verified investments in operational decarbonization infrastructure are documented. The company's business model—transporting and processing hydrocarbons—inherently exposes it to transition risk. Environmental score reflects absence of net-zero commitment, undisclosed Scope 3 emissions, lack of physical decarbonization capex, and greenwashing-detection penalties for reliance on regulatory/policy shifts rather than operational carbon cuts.

Criticisms on file

Methane emissions regulation exposure. EPA issued final rule on Feb 12, 2026, eliminating 2009 GHG endangerment finding, but rule expected to face extensive litigation and future implementation remains uncertain. Methane Fee suspended under new administration (One Big Beautiful Bill Act, July 4, 2025).
Source: OKE_10k.txt, Risk Factors section, 'We may face significant costs to comply with the regulation of GHG emissions'
ESG scrutiny and climate-change activism. Company acknowledges increased likelihood of governmental investigations, regulation, shareholder activism and private litigation regarding climate change, which could increase costs or adversely affect business.
Source: OKE_10k.txt, Risk Factors section, 'Scrutiny and conflicting stakeholder expectations regarding ESG issues, including climate change, may impact our business'
Increased litigation and activism challenging oil and gas development. Company notes that such actions could impact customers' activities, existing permits, ability to modify/obtain new permits and public perception.
Source: OKE_10k.txt, Risk Factors section, 'Our operations are subject to federal and state laws and regulations relating to the protection of public health and safety and the environment'
Physical climate risks. Company acknowledges threat of climate change creating physical and financial risks, including extreme weather impacts requiring higher system backup, increased costs and potential damage to assets.
Source: OKE_10k.txt, Risk Factors section, 'We may be subject to risks associated with the physical impacts of climate change'

Disclosed initiatives

Environmental, Safety and Health Commitment

Company maintains mature ESH management systems and process safety programs with key-risk/key-control identification; ongoing enhancements to internal capabilities.

Operational risk mitigation; does not constitute decarbonization infrastructure
Corporate Sustainability Oversight

Board conducts biannual examination of GHG emission trends, GHG emissions reduction performance and new regulatory requirements; incorporated into Corporate Governance Committee Charter.

Governance and monitoring only; no disclosed quantitative reduction targets or capex allocation

Social story

ONEOK reports a CEO-to-median-worker pay ratio of 69:1 (below 200:1 threshold, no penalty applied). The company discloses workforce diversity initiatives including four employee business resource groups (Racial/Ethnic Inclusion, Veterans, Women, LGBTQ+) and supplier-diversity programs. Specific diversity percentages (women, underrepresented minorities in leadership) are not disclosed in available proxy or 10-K excerpts. The company notes no active documented union-suppression activities or major strikes in the last 24 months. Supply-chain human-rights audits are not explicitly detailed in available filings. The company provides competitive benefits (medical, dental, vision, adoption support up to $10,000, maternity/paternity leave up to 6 weeks, 401(k) matching at 100% up to 6%, profit-sharing at 6% quarterly). However, specific turnover rate data is not disclosed. Social score reflects moderate pay equity, active diversity/inclusion programs, no recent major labor disputes, but incomplete disclosure of leadership diversity and supply-chain ethics audits.

Criticisms on file

No material criticisms on file for this pillar.

Disclosed initiatives

Employee Engagement, Inclusion and Diversity Strategy

Cross-functional effort with dedicated HR team and employee council representing diverse demographics, work locations, roles and seniority levels. Four employee-led business resource groups (Racial/Ethnic Inclusion, Veterans, Women, LGBTQ+) with officer-level executive sponsors.

Supports attraction and retention of underrepresented talent; embeds DEI into leadership development curriculum
Comprehensive Health and Welfare Benefits

Medical, dental, vision, virtual health visits, on-site clinics, EAP (free), medical second opinion, health care concierge, full-pay maternity/paternity/adoption leave (up to 6 weeks), fertility benefits, life insurance, long-term disability, dependent care FSA.

Supports employee wellness and family planning; reduces financial barriers to health access
Retirement and Profit-Sharing Programs

401(k) plan with 100% company match up to 6% of eligible compensation; three defined benefit pension plans (legacy ONEOK and Magellan); profit-sharing contributions increased to 6% quarterly effective Jan 1, 2025; 96% of eligible employees participating in 401(k) as of Dec 31, 2025.

Enhanced retirement security; increased profit-sharing reflects shared business success
Education and Professional Development

Tuition reimbursement up to $5,250/year for job-related education; professional certification exam fee reimbursement; career growth and leadership development programs available to all employees.

Supports skill development and internal advancement opportunities
Community and Volunteer Support

ONE Trust Fund (employee-run charitable organization for personal crises); volunteer opportunities; volunteer grants; $10,000 annual charitable giving matching through ONEOK Foundation.

Enables employee engagement in community; supports employees in hardship

Governance story

ONEOK operates with a single-class share structure (no dual-class voting penalty applied). Board independence is not explicitly quantified in available filings but the company states all committees are composed solely of independent directors and conducts annual board/committee evaluations. The proxy discloses no current antitrust, consumer-safety, or financial-fraud regulatory proceedings. The company states it does not make corporate contributions to political candidates, parties, committees or campaigns, nor to 501(c)(4) political organizations. Annual lobbying expenditures are not disclosed in available filings. The company acknowledges active lobbying oversight and shareholder engagement on governance matters. Board conducts annual strategic reviews, biannual ESH/sustainability and human capital examinations. No evidence of litigation attempting to block climate shareholder proposals was found in available documents. Governance score reflects strong board composition governance, single-class structure, absence of major regulatory violations, but lack of disclosed lobbying expenditure transparency and uncertain board-independence percentage.

Criticisms on file

Lobbying expenditure transparency gap. Company discloses no annual dollar amount for lobbying spend or specific lobbying positions in available filings, despite acknowledging active lobbying and political activity oversight.
Source: OKE_proxy.txt, 'Lobbying and Political Activities Oversight' section; absence of quantified lobbying spend in both 10-K and proxy

Disclosed initiatives

Annual Board Strategic Review and Risk Oversight

Board formally reviews business strategy, risks and opportunities at annual strategic planning session; long-range strategic issues discussed at regular meetings and executive sessions; ERM program overseen by CFO to identify, assess, monitor and manage risks.

Ensures alignment of strategy and risk management with board oversight
Corporate Governance Committee ESG Oversight

Board conducts biannual examinations of sustainability practices, GHG performance, mechanical integrity, process safety, regulatory requirements, continuous improvement; incorporated into Corporate Governance Committee Charter.

Embedded governance of ESG risks and opportunities
Executive Compensation Committee Human Capital Oversight

Board conducts biannual examinations of workforce inclusion, talent recruitment, engagement, development, succession, benefits, BRGs, community awards; incorporated into Executive Compensation Committee Charter.

Links compensation to human capital strategy and performance
Shareholder Engagement and Communication Mechanisms

Annual director elections with majority voting; annual say-on-pay votes; investor relations engagement (~20 conferences, ~530 investor discussions in 2025); proxy access for shareholder director nominations; shareholder proposal procedures; virtual annual meeting attendance.

Facilitates accountability and regular shareholder feedback on strategy and compensation
Code of Business Conduct and Ethics

Applies to all directors, officers and employees; requires adherence to legal/ethical standards, avoidance of conflicts of interest, honest conduct, integrity; reporting mechanisms for violations.

Establishes clear ethical baseline and accountability
No Corporate Political Contributions

Company explicitly states it does not make corporate contributions to political candidates, parties, committees, campaigns, or 501(c)(4) political organizations; maintains active lobbying and political activity oversight.

Reduces perception of political influence; maintains governance transparency

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of ONEOK Inc.. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open ONEOK Inc. in the app for interactive charts and portfolio building.

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