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Corporate Governance

Corporate governance is concerned with the way companies are directed and controlled, and the effect of such direction and control on shareholders' investments and the interest of other stakeholders such as employees, customers and suppliers. The purpose of good corporate governance is to ensure that the company is managed in an efficient and effective manner for the benefit of all shareholders.

We recognise that we have a Corporate Social Responsibility towards a diverse group of stakeholders that includes shareholders, customers and business associates, employees, business partners, local communities and society at large, including those special interest groups that represent public interest concerns, such as NGOs. Investment decisions will take account of economic, environmental and social impacts and their management. The interests of shareholders will not necessarily take precedence over the interests of other stakeholder groups and our business strategy is designed to promote social justice in the workplace and in our external relationships in the countries where we operate.

British Borneo Oil and Gas has always been committed to behaving responsibly in every part of our business including the health, safety, security, environment and social aspects.

In order that we remain a leader in the field of corporate social responsibility, we have implemented a strategy that complements our business model:

• We will continue to plan and create and deliver net positive social and environmental impacts wherever we work.
• We will continue to work in partnerships, where possible, to multiply these positive impacts through collaboration with specialist organisations such as:
  • Save the Children Malta
  • The United Nations Environmental Programme (a biodiversity partnership)
• We will continue to report publicly on our performance and achievements across the social and environmental sphere every two years.
• Our parent company is a signatory to the United Nation's Global Compact. This is our undertaking to participate in a rapidly growing movement to underpin global markets with universal principles and thereby help realise the Secretary General's vision of a more sustainable and inclusive global economy.