While economic and social policy is the responsibility of governments, we recognise that we also have a role to play in adding value to society through our activities.
Generating both social and economic value for our stakeholders is a key element of our strategy. In our projects, the key stakeholder groups usually include:
- the host governments that grant our licences and regulate our activities;
- the local communities that may gain benefits or be impacted; and
- the local workforce, including personnel and contractors we may work with.
To mitigate any negative impacts and enhance the positive benefits that arise from our operations, we assess and manage the potential social and economic risks and opportunities for all new projects.
In accordance with our Corporate Responsibility Management System (CRMS), we evaluate the potential social risks and impacts of all major activities. The scope and nature of that Social Impact Assessment (SIA) depends on local context and regulations. An SIA may be performed as part of an Environmental and Social Impact Assessment (ESIA).
We use the United Nations Sustainable Development Goals as an additional framework to manage social and environmental risks and inform the development of Impact Benefit Plans. These help us to focus our activities on areas where we can maximise benefits and minimise negative impacts.
Targeted social investment forms part of our strategy to deliver value for all stakeholders and make a positive social impact wherever we work. As part of this, we have developed social investment guidance.
“Cairn will assist in the development of local community programmes where it operates, in consultation with local government, the public and stakeholders.”
Cairn Group CSR Policy
Strengthening local communities
Even though many of our assets are located offshore, we recognise that our activities can still affect local people. Our activities may restrict the access local communities and businesses have to resources, infrastructure and services.
In such instances, we share our plans with local community representatives, invite feedback on the issues that affect them and engage on ways to minimise disruption. This enables us to minimise risk, maximise shared benefits and foster long-lasting relationships.