Operating in a responsible and sustainable manner is essential to Energean.
Our Management Approach
Energean aims to have a positive impact on the communities it operates in. Teamwork and collaboration are at the forefront of Energean’s company values. Therefore, we believe that building trust and relationships within communities is integral to our progression as a Company. We monitor how our operations influence the well-being of our host communities, in order to focus our activities on improving local quality of life, and maintaining our social license to operate.
By investing in communities, we seek the establishment of mutually beneficial relationships between our Company and the local communities in which we operate. We consider the provision of solutions to the social issues where our communities are facing to be a joint effort, in which trust is key. In the long run, it is Energean’s goal to make these solutions as sustainable as possible.
As a whole, the energy industry’s impact on natural resources as well as local communities and their ecosystems is subject to scrutiny and debate. Energean believes in creating shared value among its stakeholders as well as implementing responsible practices, controlling the management of risk while still maintaining the ability to seize business opportunities in a changing environment.
Our CSR policy, our ETHOS, which is embedded in our company values and guided by international standards and best practices, is fundamental in how our business functions. Energean is always seeking to improve its sustainable development agenda by collaborating with governments, the private sector and the civil society in order to progress on a global, regional, national and local level.
We encourage real communication and feedback mechanisms between our local communities and us to ensure implementation of commonly accepted solutions regarding our activities. We aim to raise awareness for social contribution and to inspire other companies and our people to also apply these practices.
In 2020, there were no recorded incidents in which we disagreed with the local communities in which we operate regarding the use of land, sea or other protected areas. Our CSR team is constantly working to maintain and strengthen our relationship with local communities, as we believe that the ongoing dialogue and trust we have established with them is the key to maintaining our social license to operate.
The performance indicators for building and maintaining Community Relations material topic are presented in detail at the "Energean in Numbers" section.
Targets for 2021
Energean is committed to continuous improvement of policies and procedures to encourage a fair and inclusive corporate culture, for which our code of conduct is a key tool. The Code is periodically updated to align with our constantly changing business environment. The Code will be published and translated into all necessary languages during 2021.
Following recent assessment of our Company's whistleblowing procedures, an enhancement plan will be implemented to ensure alignment with best practice.
An assessment of regulatory and corporate compliance real and emerging will be conducted in select countries. This will enable identification, prioritisation and accountability assignment around legal or policy noncompliance risks and ethical misconduct, that could lead to fines, penalties, reputational damage, or the inability to operate in the specific jurisdictions.
Energean maintains its strong and long-standing relationships with the Local Communities it operates in.
The company's aim is to extent its collaborations with Organizations, Institutions, and NGOs and to strive creating new ones, especially with those involved with Environmental aspects and subjects. Energean realizes that collaborations and working with others is the only way things can move forward.