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ESG
Governance
Our focus
Outstanding governance, ethical conduct and compliance are the foundation of GKP’s business and underpin our purpose as a responsible energy company. We have taken significant steps to establish robust oversight and management of our sustainability strategy and climate-related risks and opportunities. We also continue to embed a focus on ethical conduct and compliance at all levels of the organisation, including the launch in 2023 of GKP’s Code of Business Conduct and training programme.
Board and management oversight of GKP’s sustainability strategy
GKP’s Board meets regularly to consider and discuss the Company’s strategy, policies, major capital expenditure and all aspects of the Company’s activities and business operations. This includes active involvement and ultimate accountability for matters relating to safety, sustainability and climate change through oversight of GKP’s sustainability strategy.
The Safety and Sustainability Committee has primary responsibility for ensuring appropriate systems are in place to manage health, safety, security and environmental risks, including climate-related risks and opportunities, as well as implementing and monitoring appropriate safety and sustainability-related governance processes across the Company. This includes the development of relevant KPIs and making recommendations of improvement where appropriate. The Safety and Sustainability Committee meets four times per year and reports all matters discussed into the Board.
All significant decisions affecting sustainability matters and climate‑related risks and opportunities are considered by the Board upon the recommendations of the Safety and Sustainability Committee.
Gulf Keystone’s Chief Operating Officer (“COO”) is executive sponsor for sustainability and climate-related risks and opportunities and has an open and regular dialogue with the Safety and Sustainability Committee. He is supported by the HSE and Sustainability team, headed up by Gulf Keystone’s Head of HSE and Sustainability, who is in turn supported by a dedicated Sustainability Manager. The COO, Safety and Sustainability team and other members of the Executive Committee and senior management team are part of the Sustainability Panel, a new body created in 2022 with a mandate of facilitating the execution of GKP’s sustainability strategy.
GKP Sustainability Champions
In 2022, 44 dedicated employees from across GKP, from operational staff through to IT, and from London to Erbil, volunteered to be Sustainability Champions. This unique role will provide departments from across the business with a dedicated sustainability representative who can identify, present and deliver new environmental, social and governance-related ideas to the Safety and Sustainability Committee.
Our Sustainability Champions come from a wide range of backgrounds with diverse skill sets, and each bring their own perspectives on GKP’s sustainability needs. The initiative will also empower our Champions to develop their own careers by giving them the power to take on actions that have the potential to impact our future for the better.
Moving forward, our Sustainability Champions will hold regular meetings together, with the best ideas being voted on and taken to the Safety and Sustainability Committee for implementation on the ground.
Ethics and compliance
We are committed to operating as a responsible business that upholds the highest standards of ethics and compliance wherever and however we operate. Failure to do so could endanger our licence to operate and result in significant legal and financial losses.
To reinforce our commitment to ethics, we recently launched GKP’s Code of Business Conduct. The document contains an overview of our policies and procedures relating to anti-bribery and corruption, conflicts of interest, competition and anti-trust, data and information security, diversity, harassment, human rights, modern slavery and HSEQ.
We operate a zero-tolerance approach to bribery and corruption. It is essential that the Company maintains transparent relationships free from corruption with our host government, suppliers, contractors and local communities. This protects our reputation and our licence to operate, as well as the ability to access funding and operate effectively. To monitor our activity, we operate an independent whistleblowing service in the event any employee wishes to raise a concern, either online or over the phone, anonymously and without fear of reprimand.
