Social performance
Managing Social Impacts
We aim to manage social performance consistently through reliable assessment, clear planning and robust implementation.
In 2012, we introduced our social performance standard, which is mandatory in all projects where we are directly accountable for managing social impacts.
The standard reflects how our evolving business model, particularly the long-term nature of our contracts, is changing our relationship with the communities in which we operate.
Our new social performance framework, incorporating the standard and supporting guidance notes, aims to deliver a consistent approach to managing social performance.
We have also updated our Ethical, Social and Regulatory Policy, which underpins the social performance framework, again to reflect our changing business model.
Petrofac’s social performance standard requires that our social investment programmes are built on credible and authorative social assessments.
These assessments, involve discussions with local stakeholders and will identify social risks and impacts in each country. Following a social assessment, we aim to create tailored social investment plans for the communities we operate in, based on their priorities and needs.
Our contribution and the long-term impacts of our projects, are measured using the London Benchmark Group Investment Tool. During 2012, we invested more than US$1 million in social projects; our support included:
- providing business start-up training, supporting environmental clean-ups and funding urgent road safety improvements in Tunisia
- refurbishing community centres, schools and leisure facilities in Mexico