Diamondback embraces the opportunity to be a leader in environmental practices, safeguarding the areas where we live and operate. Diamondback continues to deliver on its core values through the safe and responsible development of our resources in the Permian Basin. Our approach to environmental, social and governance matters is highlighted by our commitment to protect our people, operate responsibly, improve our communities and practice sound governance. We know that our long-term success is based on our ability to efficiently and safely develop our resources and as such, have an unwavering commitment to better the communities where we live and work.
At its core, our environmental strategy reflects that the world is transitioning to a lower carbon economy. Many of the foremost authorities on energy demand forecast that oil and gas will continue to account for a substantial portion of global energy demand in even the most carbon-constrained projections.
We embrace our role in providing the safest, cleanest barrels of oil possible and continue to adapt our work processes to succeed in the new energy economy. We have taken a number of significant steps on our path to being an industry leader on ESG matters. We have included specific, measurable environmental and safety performance metrics in our short-term incentive compensation program that incentivize performance on key metrics, including flaring, GHG emissions, recycled water usage, fluid spill control and safety.
Social and Corporate
We focus our corporate responsibility strategy and initiatives in areas that are materially relevant to our business performance and where we can make a significant positive impact. In doing so, we are guided by feedback from our stakeholders and third-party frameworks, including the Sustainability Accounting Standards Board (SASB), Task Force on Climate-Related Financial Disclosures (TCFD), Global Reporting Initiative (GRI), International Petroleum Industry Environmental Conservation Association (IPIECA) and American Exploration and Production Council (AXPC).