The terms and conditions set out below apply to the Caltex Carbon Offset Program (“Program”) organized by Chevron Malaysia Limited (“Caltex”, or, together with Caltex’s affiliates, “we”).
1. The Program is only open to Caltex Rewards members who purchase fuel at Caltex retail stations in Malaysia via their CaltexGO app and make an election to redeem a Carbon Offset voucher as further described below (“Caltex Rewards Member”). Participation in the Program is on a voluntary basis limited to those Caltex Rewards Members who opt into the Program via the CaltexGO app.
2. Each Caltex Rewards Member may take part in the Program by redeeming a Carbon Offset voucher on the CaltexGO app with Caltex Rewards loyalty points to offset a portion of certain carbon dioxide equivalent emissions from combustion of the fuel purchased.
3. Caltex offsets a portion of certain carbon dioxide equivalent emissions resulting from the combustion of Caltex-branded products by using verified Carbon Offsets. Caltex reserves the right at its sole discretion to select the offsets that will be used in connection with the Program and makes no representations or warranties as to the quality, verification, calculations, or other information related to the offsets or underlying projects, including that the Carbon Offsets will satisfy the requirements or expectations of any reporting standards.
4. The calculation of certain carbon dioxide equivalent emissions resulting from the combustion of Caltex-branded products is the result of multiplying (x) the volume of Caltex-branded products purchased by the Caltex Rewards Member pursuant to the Program by (y) the applicable emissions factors. The scope of emissions for the Program here refers to the tailpipe greenhouse gas emission associated with the combustion of the purchased fuel. The applicable emission factor is referenced from API Compendium (2021). These calculations may be subject to change without prior notice to you and at Caltex’s sole discretion as a result of changes in product or engine specifications, emission factors or otherwise.
5. The market price of the Carbon Offsets is set by a methodology incorporating indices, transaction costs and other elements that reflect the average monthly price of the Carbon Offsets. All these elements are affected by prevailing market conditions. Every month, Caltex retires the Carbon Offsets associated with the Caltex-branded products that were purchased the previous month.
6. In no event will Caltex and its parent company, affiliates, subsidiaries and related companies or their respective officers, directors, employees, members, shareholders, attorneys, representatives and agents (collectively, “Affiliates”), be responsible or liable for any damages or losses of any kind, (including but not limited to direct, indirect, incidental, consequential, special or punitive damages) arising out of or in connection with a Caltex Rewards Member’s election to participate in the Program (including but not limited to emissions-reduction claims).
7. These terms and conditions may be amended and/or the Program may be suspended or terminated by Caltex at any time without prior notice and without having to disclose any reason whatsoever.
8. This Program and the Terms and Conditions shall be governed by the laws of Malaysia. Any dispute, controversy or difference arising out of or in connection with the Program and the Terms and Conditions, including any question regarding its existence, validity or termination, shall be amicably resolved between the parties. In the event the dispute cannot amicably resolved, the dispute will be resolved by arbitration administered by the Asian International Arbitration Centre (“AIAC”) in accordance with the Arbitration Rules of the AIAC (“AIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. The venue and seat of arbitration shall be Kuala Lumpur, Malaysia. The Tribunal shall consist of 1 arbitrator. The language of arbitration shall be English.
9. By taking part in the Program, the Caltex Rewards Members automatically and voluntarily agree to the above stated Terms & Conditions.
10. While Caltex takes reasonable care to ensure that information provided by Caltex to Caltex Rewards Member is correct in relation to the Program, all such information may be subject to change, and Caltex has no liability to the Caltex Rewards Member or other third parties if there are errors or the information is not up to date. Information provided by Caltex relating to a particular carbon offset project is subject to change at any time without notice.
11. Caltex takes all reasonable steps to ensure information provided by third parties about their Projects are correct, but Caltex is not liable for any errors in the Project information or if the information is not up to date.
 (A) Source: API Compendium (2021) Table 3-8 for Densities, Higher Heating Values, and Carbon Contents for Various fuels. (B) Source: API Compendium (2021) Tables 4-3 and 4-6 for CO2e Combustion Emission Factors for Common Industry Fuel Types. Assumed GWPs for CH4 and N2O are 28 and 265, respectively.