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In 2012, we asked for feedback on how we could improve our corporate responsibility reporting. This included a review of best practices, gathering views from, amongst others, socially responsible investors (SRI), host country stakeholders and key internal user groups. As a result, we have made a number of important changes this year. We have enhanced our disclosure with new content, including transparency on payments to governments. We have also provided greater insight into our materiality process.
This report focuses on our 2012 performance. It is published in full in print and online, and in summary in print and online, in both English and French. Reported data is for the financial year ending 31 December 2012. In response to requests for more customised country-specific information we will publish country reports for Ghana, Uganda, Kenya and Ethiopia in 2013.
We have applied the Global Reporting Initiative (GRI) G3.1 Guidelines and Oil and Gas Sector Supplement and this report has achieved an Application Level A+. Where appropriate, we have also taken into account the International Petroleum Industry Environmental Conservation Association (IPIECA) good practice guidance on corporate responsibility reporting. A full basis of reporting is available. Click here for a full basis of reporting.
In late 2012, we undertook a materiality review to ensure that the issues we are reporting on are those that are of most significance to Tullow as a business and to our key stakeholder groups. Our definition of materiality is aligned with that of IPIECA – "Issues that can significantly affect the execution of the business strategy and those that have the greatest social, environmental and economic impacts on society". We identify the material issues for our business by engaging with internal and external stakeholders, by monitoring policy, regulatory trends and best practice and by reviewing our internal policies, procedures, performance metrics and principal risks.