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We are making good progress in our corporate responsibility performance. The targets we are setting to assess our progress are increasingly informed by our stakeholder engagement processes.
We have reintroduced a detailed performance overview into our corporate responsibility reporting. We received feedback from socially responsible investors and corporate responsibility analysts, in particular, that they had a strong preference for a clear and informative summary of our performance against objectives, including an overview of our targets and plans for the following year.
|2011/2012 key objectives||2011/2012 performance||Status|
|Deliver a new Code of Business Conduct, taking into account the UK Bribery Act.||New Code of Business Conduct launched in August 2011.|
|Group-wide roll-out of a new compliance programme, complemented by a range of new training initiatives, tools and processes.||As of June 2012 over 500 members of our workforce have received training in our Code of Business Conduct and policy awareness.|
|Form a new Compliance Committee to monitor and advise on the compliance programme and report to the Board.||Compliance Committee was formed and two meetings held to date in 2012. Regular Board reporting planned.|
|Develop and publish a separate Human Rights policy.||Our Human Rights Statement of Policy has been published separately from the new Code of Business Conduct but no detailed review or restatement was undertaken.|
|Develop and enhance the capability of the compliance team and network of compliance champions.||NEW|
|Continue to roll out the Code of Business Conduct awareness programme across Tullow.||Same as 2011|
|Enhance bribery and corruption risk assessment and due diligence procedures.||NEW|
|Ensure early involvement in major projects or areas of risk to embed compliance.||NEW|