Governance
Importance and Mission
Gulf believes that a business guided by a well defined and widely applied sustainability framework will enable the Company to achieve its vision of becoming the Energy Partner of Choice by conducting its business with integrity and adaptability in response to energy transition while striving to create sustainable value for all stakeholders.
Gulf’s policies are aligned with the United Nations Sustainable Development Goals, and the guiding principles of human rights and First Nations organisations.
Please see Gulf Energy’s Code of Business Conduct and Ethics.
Gulf is committed to the UN Global Compact Ten Principles and understands that these principles were collectively founded in the Universal Declaration of Human Rights, the International Labor Organization’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the UN Convention Against Corruption.
Gulf understands that member companies are expected to engage in specific business practices that benefit the people and the planet while pursuing profitability with integrity.
Gulf has made clear statements of this commitment to stakeholders and the public. Gulf Energy recognises that a key requirement for participation in the UN Global Compact is the annual submission of a Communication on Progress (COP) that describes our company’s efforts to implement the Ten Principles.
Gulf supports public accountability and transparency and therefore commits to report on progress within one year of joining the UN Global Compact and annually thereafter according to the UN Global Compact COP policy.
The Ten Principles of the United Nations Global Compact
Gulf has adopted all ten principles of the United Nations Global Compact into policies and their linkages to the United Nation Sustainable Development Goals (Figure ESG2). Compliance with applicable laws, regulations, compact principles and applying the highest ethical standards is core to Gulf’s culture. Gulf regularly evaluates and updates compliance and ethics policies to help ensure it adequately addressing risks and providing appropriate guidance for employees and business partners. Gulf follows a robust anti-corruption due diligence process and closely monitors compliance with the process. Gulf requires all employees to commit to the Code of Business Conduct and Ethics and regular training.
Principle 1: Support and respect the protection of internationally proclaimed human rights.
Principle 2: Ensure that business practices are not complicit in human rights abuses.
Principle 3: Uphold the freedom of association and the effective recognition of the right to collective bargaining.
Principle 4: Eliminate all forms of forced and compulsory labor.
Principle 5: Abolish child labor.
Principle 6: Eliminate discrimination in employment and occupation.
Principle 7: Adopt a precautionary approach to environmental challenges.
Principle 8: Conduct environmentally responsible activities.
Principle 9: Encourage the development and diffusion of environmentally friendly technologies.
Principle 10: Fight corruption in all its forms including extortion and bribery.
