More_AV0 and_CJC more_DT0 countries_NN2 are_VBB placing_VVG greater_AJC emphasis_NN1 on_PRP transitioning_VVG to_PRP low-carbon_AJ0 renewable_AJ0 energy_NN1 sources_NN2 ._SENT Valero_NP0 Energy_NN1 Corporation_NN1 ,_PUN the_AT0 world_NN1 's_POS largest_AJS independent_AJ0 petroleum_NN1 refiner_NN1 ,_PUN has_VHZ been_VBN staying_VVG ahead_AV0 of_PRF the_AT0 curve_NN1 for_PRP more_DT0 than_CJS a_AT0 decade_NN1 ._SENT 
The_AT0 San_NP0 Antonio-based_AJ0 company_NN1 ,_PUN the_AT0 largest_AJS producer_NN1 of_PRF renewable_AJ0 transportation_NN1 fuels_NN2 (_PUL renewable_AJ0 diesel_NN1 and_CJC ethanol_NN1 )_PUR in_PRP North_NP0 America_NP0 and_CJC the_AT0 second_ORD largest_AJS producer_NN1 of_PRF renewable_AJ0 diesel_NN1 in_PRP the_AT0 world_NN1 ,_PUN is_VBZ managing_VVG its_DPS business_NN1 to_TO0 responsibly_AV0 meet_VVI the_AT0 world_NN1 's_POS growing_AJ0 demand_NN1 for_PRP reliable_AJ0 and_CJC affordable_AJ0 energy_NN1 while_CJS addressing_VVG climate_NN1 change_NN1 risk_NN1 ._SENT 
Recognizing_VVG the_AT0 world_NN1 wants_VVZ lower-carbon_AJ0 fuels_NN2 ,_PUN Valero_NP0 recently_AV0 pledged_VVD to_TO0 reduce_VVI and_CJC offset_VVI 63_CRD %_NN0 of_PRF refining_VVG greenhouse_NN1 gas_NN1 (_PUL GHG_NP0 )_PUR emissions_NN2 by_PRP 2025._CRD 
"_PUQ We_PNP are_VBB leveraging_VVG our_DPS global_AJ0 liquid_AJ0 fuels_NN2 platform_NN1 to_TO0 continue_VVI expanding_VVG our_DPS long-term_AJ0 competitive_AJ0 advantage_NN1 in_PRP renewables_NN2 ,_PUN "_PUQ says_VVZ Joe_NP0 Gorder_NP0 ,_PUN chairman_NN1 and_CJC CEO_NN1 of_PRF Valero_NP0 ._SENT "_PUQ Over_PRP half_DT0 of_PRF our_DPS 2021_CRD growth_NN1 capital_NN1 is_VBZ allocated_VVN to_PRP renewable_AJ0 fuels_NN2 ._SENT "_PUQ 
Valero_NP0 has_VHZ built_VVN its_DPS reputation_NN1 executing_VVG leading-edge_AJ0 renewable_AJ0 energy_NN1 projects_NN2 ,_PUN investing_VVG more_AV0 than_CJS $_NN0 3_CRD billion_CRD since_PRP 2009._CRD The_AT0 company_NN1 was_VBD the_AT0 first_ORD refiner_NN1 to_TO0 enter_VVI large-scale_AJ0 production_NN1 of_PRF ethanol_NN1 ._SENT Last_ORD year_NN1 ,_PUN Valero_NP0 announced_VVD Texas_NP0 's_POS first_ORD renewable_AJ0 diesel_NN1 plant_NN1 ,_PUN with_PRP expected_AJ0 completion_NN1 in_PRP 2023._CRD And_CJC this_DT0 year_NN1 ,_PUN it_PNP announced_VVD a_AT0 partnership_NN1 with_PRP BlackRock_NP0 and_CJC Navigator_NN1 Energy_NN1 Services_NN2 to_TO0 capture_VVI and_CJC store_VVI carbon_NN1 dioxide_NN1 (_PUL CO2_NP0 )_PUR from_PRP its_DPS ethanol_NN1 plants_NN2 ,_PUN aiming_VVG to_TO0 produce_VVI a_AT0 lower_AJC carbon_NN1 intensity_NN1 ethanol_NN1 to_TO0 be_VBI marketed_VVN in_PRP low-carbon_AJ0 fuel_NN1 markets_NN2 ._SENT Valero_NP0 continues_VVZ to_TO0 look_VVI at_PRP ways_NN2 to_TO0 lower_VVI the_AT0 carbon_NN1 intensity_NN1 of_PRF all_DT0 its_DPS products_NN2 ,_PUN including_PRP carbon_NN1 sequestration_NN1 ,_PUN renewable_AJ0 hydrogen_NN1 ,_PUN and_CJC sustainable_AJ0 aviation_NN1 fuel_NN1 ,_PUN among_PRP others_NN2 ._SENT These_DT0 projects_NN2 reduce_VVB the_AT0 carbon_NN1 intensity_NN1 of_PRF Valero_NP0 's_POS liquid_AJ0 transportation_NN1 fuels_NN2 while_CJS earning_VVG attractive_AJ0 rates_NN2 of_PRF return_NN1 ._SENT In_PRP the_AT0 face_NN1 of_PRF pandemic-induced_AJ0 challenges_NN2 ,_PUN Valero_NP0 maintained_VVD its_DPS dividend_NN1 and_CJC investment-grade_AJ0 credit_NN1 ratings_NN2 while_CJS also_AV0 continuing_VVG its_DPS philanthropic_AJ0 tradition_NN1 by_PRP giving_VVG more_AV0 than_CJS $_NN0 58_CRD million_CRD to_PRP its_DPS neighboring_AJ0 communities_NN2 ._SENT 
"_PUQ As_CJS COVID-19_AJ0 vaccines_NN2 are_VBB widely_AV0 distributed_VVN ,_PUN we_PNP are_VBB hopeful_AJ0 people_NN0 will_VM0 feel_VVI safe_AJ0 to_TO0 experience_VVI life_NN1 again_AV0 ,_PUN "_PUQ says_VVZ Gorder_NP0 ._SENT "_PUQ We_PNP expect_VVB the_AT0 pent-up_AJ0 desire_NN1 to_TO0 travel_VVI will_VM0 drive_VVI demand_NN1 for_PRP our_DPS products_NN2 ._SENT And_CJC we_PNP are_VBB ready_AJ0 to_TO0 meet_VVI that_DT0 demand_NN1 ._SENT "_PUQ 
This_DT0 expectation_NN1 ,_PUN coupled_VVN with_PRP Valero_NP0 's_POS engineering_NN1 innovations_NN2 ,_PUN sound_NN1 execution_NN1 ,_PUN and_CJC demonstrated_VVD discipline_NN1 in_PRP capital_NN1 allocation_NN1 ,_PUN drives_VVZ its_DPS ongoing_AJ0 commitment_NN1 to_TO0 produce_VVI affordable_AJ0 ,_PUN reliable_AJ0 ,_PUN and_CJC sustainable_AJ0 energy_NN1 for_PRP generations_NN2 to_TO0 come_VVI ._SENT 
