Our ability to do business relies on developing trust with our stakeholders, including investors, governments, business partners, suppliers and communities. This means we must always work in an ethical and transparent way.
Since inception, we have maintained a strong stand on ethical matters. This is the key to delivering value and to maintaining our licence to operate.
Our position on ethical matters continues to grow in importance with interest from investors, funding institutions and other stakeholders. Poor performance could result in negative impact on people and communities, inability to access opportunities and funding, and loss of reputation.
In 2017, we combined our values and Business Principles with the Code of Business Ethics, to create an integrated Group Code of Ethics (‘the Code’). This is aligned with our four Corporate Responsibility themes: Business Relationships; Society and Communities; People; and Environment.
The Code is published online.
Anti-bribery and corruption
Our robust anti-bribery and corruption (ABC) policies are increasingly important as we start to operate in new areas of the world where standards of transparency may not be as high. We assess both our potential partners and contractors to ensure they apply compatible standards, and that control and reporting mechanisms are clear.
We have a zero-tolerance approach to bribery and corruption as detailed in our Corporate Social Responsibility Policy. Our ABC procedures cover a wide range of risks, ranging from facilitation payments to receipt of gifts and hospitality.
Employees are encouraged to report any incident that they believe may compromise our Code of Ethics and Policy, through our whistleblowing procedure.
We continue to engage in, and report on, our business activities transparently and openly. We proactively engage with investors and shareholders through investor roadshows and regular and routine market updates. We maintain an investor area on our website that provides relevant up-to-date information.
As a listed public company, we continue to report annually in line with UK regulations. We are committed to responsible and transparent reporting and have been recognised for the quality of our work in this area.
Payments to governments
We continue to participate in the Extractive Industries Transparency Initiative (EITI), which commits oil and gas companies to transparency about tax contributions and other payments to governments.
We also report on payment to governments under the European Union Accounting Directive on a country-by-country basis.