To achieve sustained commercial success, it’s essential for us to have a strong commitment to corporate responsibility (CR).
We remain acutely aware of the changing political, social and economic environment, and we see that our CR capability has a direct impact on our ability to:
During 2018, we continued to formalise our approach to CR, with several new initiatives, greater rigour, and improved reporting standards.
Raising our reporting standards
The better we measure our CR performance, the better we can manage it.
In 2018, we continued to report in accordance with the Global Reporting Initiative (GRI) G4 (core) guidelines, and introduced several new performance indicators.
Our GRI Index outlines where the GRI G4 indicators can be found in the Annual Report and on our website.
Enhancing our compliance
To be effective, our CR policies and standards must be clearly understood and actively implemented. In this section you’ll find out more about how we extended our CR awareness programmes and enhanced our compliance processes.
Supporting local suppliers and contractors
One thing that sets Petrofac apart is the extent to which we work with and support local suppliers and nurture local supply chains.
These partners are expected to abide by all of our CR policies and are covered by many of our related awareness and compliance programmes.
Corporate responsibility is key to Petrofac’s business. A great example is our commitment to our local delivery model. By working with local partners and employing local people, we are more efficient. We also create in-country value, which is a key consideration for many of today’s clients. By adapting to political, social, economic, and regulatory environments, we are able to build productive relationships, bid for challenging projects, manage our risks, and improve our performance.
Ayman Asfari, Group Chief Executive