As a core value, working sustainably is embedded throughout our company. Our approach to sustainability is underpinned by our sustainability principles. These principles commit us to operating with transparency and integrity, fostering our organisation and culture, building a resilient business, operating responsibly and creating shared value through relationships with our stakeholders. Our principles are integral to our company's drive to become a global leader in energy services which underpins our company mission, vision and values. At Arkad, sustainability encompasses not just the environmental footprint we leave on the air, water and land but also our long-term engagement with communities.
Operating with transparency and integrity We are open, honest and fair and we have the courage to do what’s right, balancing short- and long-term interests. This section focuses on our values-led approach in the areas of regulatory compliance, code of conduct anti-bribery and corruption, payment transparency and human rights.
Organisation and culture
We focus on having a values-led, high-performance culture. We develop our people so we can meet our own leadership and technical requirements. All employees are assessed against the company values in their performance reviews. This section focuses on how we are growing outstanding leadership, building diverse capability from within and driving an inclusive high-performing culture enabled by technology.
Building a resilient business
We acknowledge economic risks and uncertainties in a changing world. We are committed to supporting a sustainable energy future. This section focuses on the future we see for oil and gas and on our ability to build a resilient business capable of responding to challenges and creating new opportunities.
We believe that it is our responsibility to ensure that our operations are safe. Effective risk management is essential to ensuring that we are best positioned to prevent and respond to any incidents that have the ability to impact our people, our communities and our environment. This section focuses on the personal health and safety of our employees, the integrity of our facilities, our ability to respond appropriately to unplanned events, our community engagements and our environmental performance. An overview of stakeholder engagement is also included.
Creating shared value
We understand that our social licence to operate relies on establishing and maintaining meaningful and long-lasting relationships with our stakeholders. We believe that there is shared value for our business and our communities in the co-creation of opportunities in education, employment and enterprise as well as supporting communities to be resilient maximise the value of these opportunities.
Identifying and Managing Risk
By understanding and managing our risks, we provide greater protection to our people, communities and environment. We recognise that effective management of risk is vital to a sustainable future. Our most significant risks, and how they are being managed, are continually reviewed and summarised in a corporate risk profile. Stakeholder feedback and the risks and responsibilities outlined in our management framework are the two primary sources of information considered when determining our material issues.
Our approach to sustainability is incorporated in our policies, standards and Code of Conduct. We are committed to an elevated level of corporate governance and fostering a culture that values ethical behaviour, integrity and respect. We believe that adopting and operating in accordance with exacting standards of corporate governance is essential for sustainable long-term performance and value creation of our business.
Arkad Management System
The Arkad Management System (AMS) provides a structured governance framework with defined accountabilities and performance requirements. It describes our Arkad way of working, enabling us to undertake activities across our value chain that are consistent with our internal standards.
In 2017, Arkad launched the revised AMS following an extensive streamlining activity of all documentation across the business. The AMS is now company-wide and its content is grouped by key business activities to ensure the system remains independent of organisational structure, globally applicable and is scalable where required.