To fulfil our purpose and build a better future for all our stakeholders we must
understand their expectations and concerns and take account of them in the way we run our business.
Stakeholder engagement is a daily business practice at every level of the organisation.
We regularly communicate with a wide range of stakeholder groups through formal meetings, open forums and on-the-ground engagement.
Consistent and proactive engagement fosters stronger relations and helps build partnerships.
The feedback and recommendations captured following the various engagements feeds into our business processes to help us make any necessary improvements.
Primary stakeholders of Tullow Oil
As we fulfil our purpose and build a better future for all our stakeholders, we take account of their views, expectations and concerns. To understand what matters most to our stakeholders, and respond accordingly, we engage with stakeholder groups throughout the year across all levels of our organisation.
Examples of our engagement in 2023 are shown below.
Host governments and communities
Primary means of engagement
- Regular interactions through our local Social Performance teams
- Proactive engagement by our Board of Directors and leadership at government level
Key expectations
- Responsible operator of national assets
- Economic contribution through taxes and socio-economic investment and support
- Consultation on operational initiatives
Engagements in 2023
- Several engagements in Ghana and Kenya relating to upcoming initiatives and ongoing operations
- Socio-economic impact study delivered showing significant contribution to jobs, taxes, business development and local communities
Employees
Primary means of engagement
- Daily interactions through business activities and team meetings, engagement surveys and town hall meetings.
- Quarterly meetings with the TAP, our employee advisory panel
Key expectations
- Safe working environment
- Fair compensation and benefits
- Clear purpose and values-based culture
- Engagement including timely business updates
- Opportunity to advance including for nationals in their home countries.
Engagements in 2023
- Refresh of corporate values engaging many employees across the business
- Ongoing engagement with Tullow Advisory Panel as a channel for employee feedback
- Continued positive results in our localisation performance in Ghana
- Significant training investment across the Company for all employees
Investors and lenders
Primary means of engagement
- Annual General Meeting
- Investor relations programme including quarterly updates and meetings
- Investor meetings with Board members
Key expectations
- Strategy and delivery
- Sustainable returns
- Regular communication and transparency
- Strong ESG performance especially on climate change mitigation
Engagements in 2023
- Board refresh with appointment of two new Non-Executive Directors
- Subsidiary management audit completed to improve governance across the Group
- Ongoing engagement with investors on current performance and ESG strategy
Suppliers
Primary means of engagement
- Regular meetings
- Supplier Market Days
- Supplier Newsletters
- Supplier training events on Tullow’s business requirements
Key expectations
- Long-term relationships
- Opportunities to compete
- Fair terms
- Commitment to invest in local content
Engagements in 2023
- Investment in local content with supplier training and education, Supplier Market Days and Supplier Newsletters
- First year of feedback from supplier Local Content Reporting Tool demonstrating broad supplier impact
ESG experts, non-governmental organisations and industry peers
Primary means of engagement
- Participation in industry-wide initiatives and conferences
- Consultation on issues as they arise
Key expectations
- Sustainable operations
- Proactive disclosure on ESG performance
- Participation in industry dialogue
- Upholding human rights
Engagements in 2023
- Annual Sustainability Report published alongside our Annual Report and Sustainability Performance Data
- Progress in Net Zero commitment
- New human rights roadmap developed
Advancing the SDGs
Tullow aims to align with the world’s sustainable development priorities to deliver global prosperity by 2030 as set out in the United Nations SDGs. Our material focus aligns with the SDGs, with our key contribution directly advancing seven SDGs.
Safety
Safe
operations
- We provide a safe working environment for employees, contractors and visitors.
- We maintain and enhance our process safety and emergency response management.
- We promote health and wellness for our employees around the world.
Social
Shared
Prosperity
- We advance education in our host countries.
- We contribute to economic growth in our host nations through advancing skills and entrepreneurship and building the capacity of local businesses through training and encouragement to engage in our procurement processes.
Environment
Environmental
stewardship
- We advance responsible and efficient energy production in our host countries.
- We have committed to achieving Net Zero Scope 1 and 2 GHG net equity emissions by 2030.
- We conserve water and minimise waste throughout our operations.
- We strive to avoid negative impacts on biodiversity during all phases of our activities.
Governance
Equality and
transparency
- We place an uncompromising focus on ethics and compliance.
- We take a responsible approach to taxation and support transparency in our payments to governments.
- We are proactive about upholding and protecting human rights.
- We promote inclusion and diversity throughout our company and, through our localisation strategy, we employ and advance African nationals, enhancing employability and livelihoods and helping to reduce income inequalities.
Our Sustainability Report 2023
This Sustainability Report complements our 2023 Annual Report and provides further details of our environmental and social performance over the past year.
