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  4. 2011/2012 performance /
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Measuring our performance

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.

Key

  • Meeting target
  • Within 10% of target or on track for delivery
  • Failing to meet target

Governance

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. Meeting target
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. Meeting target
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. Meeting target
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. Failing to meet target
2012/2013 objectives Status
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