Our strategy is informed by a range of global standards and frameworks that promote responsible corporate behaviour and working practices.
Global standards and frameworks
As a signatory to the United Nations Global Compact (UNGC), we have integrated its 10 universally-accepted principles in the areas of human rights, labour, environment and anti-corruption into our policies and Code of Ethics.
We have integrated the requirements of the International Finance Corporation (IFC) Performance Standards on Environmental and Social Sustainability and the International Oil and Gas Producers (IOGP) standards and best practice guidance into our CRMS.
We also map our contribution to the UN Sustainable Development Goals (SDGs), which guide us in minimising our negative impacts and maximising the benefits of our activities in the countries where we work.
The Modern Slavery Act
We have applied our Human Rights Guidelines to our business activities for some years. In line with the UK Modern Slavery Act (MSA), we have published a statement on how our human rights management arrangements are addressing our zero tolerance to modern slavery.
Global standards and frameworks
- Our CRMS is aligned with the requirements of ISO 14001, the international standard for environmental management systems (EMS); and verified against the OSPAR recommendation 2003/5, the EMS requirements for operating in the countries of the 15 endorsing governments, including the UK. We do not operate in UN World Heritage sites.
- In 2020, we continued with our annual carbon disclosure submission to the CDP, receiving a B rating. This is an improvement on our B- rating last year, and on our C rating over the last three years.
- We ensured our compliance with the Streamlined Energy and Carbon Reporting (SECR) requirements.
- Our CRMS is aligned with the requirements of ISO 45001, the international standard for occupational health and safety management systems.
- We operate in accordance with the UK MSA, and our selection procedure for service providers includes our MSA Statement.
- Our CRMS is aligned with the requirements of ISO 26000 guidance on operating in a socially responsible way.
- We support the principles contained within the Universal Declaration of Human Rights (UDHR).
- In mitigating security risks, our operations, equipment and training meet the requirements of the Voluntary Principles on Security and Human Rights (VPSHR).
- We report our CR information in accordance with the Global Reporting Initiative (GRI) Standards (Core option).
- We continue to assess and improve our reporting against Task Force on Climate-Related Financial Disclosures (TCFD), and are committed to complying with a number of recommended disclosures.
- To improve the quality of our reporting, we have assessed and aligned our reporting against the Sustainability Accounting Standards Board (SASB) Oil & Gas – Exploration & Production Sustainable Accounting Standard.
- As a member of the Extractive Industries Transparency Initiative (EITI), we apply the EITI global transparency standard and publish what we pay to governments.
- We align our CRMS and CR reporting with AccountAbility’s AA1000 Accountability Principles Standard (AA1000), and review our arrangements regarding inclusivity, materiality, responsiveness and impact.
- We use the latest guidance from the Financial Reporting Council (FRC) and International Petroleum Industry Environmental Conservation Association (IPIECA), the global oil and gas industry association for environmental and social issues, to ensure effective stakeholder engagement and a focus on material issues.