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In 2016, we reviewed and refreshed our Social Responsibility Strategy to ensure we continue to meet stakeholder expectations and the aspirations set by our Company vision.

Aspiring to excellence

Our Company vision is to generate top quartile returns for shareholders through excellence in socially responsible oil and gas exploration and production.

Making PNG lives better

We aspire to set the standard for private sector contribution to sustainable development in PNG

Proud of what we do and how we do it

We seek to adopt industry best practice to manage material social responsibility issues and exceed stakeholder expectations for governance, environmental and social performance wherever we can

  • Work collaboratively with government, communities and other partners in innovative ways.
  • Generate shared value and a sustainable positive impact in PNG.
  • Embed social responsibility considerations into how we work.
  • Ensure continued improvement in areas of our performance that are important to stakeholders.
  • Be transparent about our priorities, performance and challenges.

Engage and empower our employees

We seek to provide a workplace that celebrates diversity and supports learning and development and drives high performance

  • Actively engage with and listen to employee ideas and perspectives.
  • Provide skills management, development and learning opportunities that support continued employability and business needs.

Reviewing our strategic priorities

In 2016, we reviewed and refreshed our Social Responsibility Strategy to ensure we continue to meet stakeholder expectations and the aspirations set by our Company vision.

To successfully deliver the objectives of our Company strategy and create value for shareholders, we identify and respond to social responsibility issues that are important to our stakeholders and our business.  We are guided by our Company vision — to deliver ‘excellence in socially responsible oil and gas exploration and production’ — the principles of our Social Responsibility Policy, and our commitments to initiatives such as the United Nations Global Compact.

We reviewed the Strategy against: best practice indicators from several global sources; sustainability and industry-specific frameworks; the results of peer and industry benchmarking; investor questions; emerging issues monitoring and risk assessments; and other stakeholder questions and feedback from the past year.

As well as reviewing external stakeholder trends and expectations, we engaged with our employees to understand internal perceptions of ‘excellence’ in social responsibility and what our people perceived as gaps or opportunities in the existing approach. This engagement included one-on-one interviews with senior managers and workshops with a number of teams, including the Stakeholder Engagement and Oil Search Foundation teams.

We considered these results in the Company strategy refresh, evaluating them in light of our operating context, risk register, existing policies and reporting and other analysis. The analysis confirmed that our existing approach remains relevant and aligned with our Company direction, the current operating environment and stakeholder expectations. It confirmed we were focusing on the right things and that there were opportunities to continuously improve how we measure and communicate our actions and impacts, as well as in specific areas such as climate change, responsible supply chain, diversity and inclusion, and human rights.

Roadmap to success

Our 2020 Social Responsibility Strategy responds to the themes and issues we identified through this process, supports the objectives of our broader Company strategy, and has been endorsed by the Board. Addressing the key themes that we identified during the review, it provides a roadmap that will guide decision making around our social responsibility priorities over the next four years.

Making a positive contribution to sustainable development in PNG remains a critical part of both our Company and Social Responsibility strategies. We see sustainable development as an important means through which we can manage socio-political stability, and believe the success of PNG underpins the success of Oil Search. Therefore, our business interests are aligned with our commitment to support our progress towards the 2030 Agenda for Sustainable Development, both generally and in PNG.  

This belief was reinforced in our Managing Director’s involvement in the CEO’s Statement of Support for the Sustainable Development Goals, an initiative led by the UN Global Compact Network Australia in 2016.

We intend to prioritise the initiatives and improvement areas that we can influence in the short- and long-term and that have the greatest value for the business and impact on our stakeholders.

In 2017, we will:

  • Develop a more strategic and integrated approach to sustainable development planning and implementation in PNG.
  • Commence implementation of a new standardised supplier pre-qualification system that considers financial, operational and social responsibility factors.
  • Develop a more formal Company-wide employee participation, giving and engagement framework.
  • Complete a gender-based pay equity analysis in Australia and PNG and resolve any inequities identified.
  • Conduct an employee engagement survey.
  • Evaluate and set an internal shadow carbon price.
  • Undertake further analysis and planning to identify other opportunities for alignment with the Sustainable Development Goals.
  • Roll out human rights training to all employees in high-exposure roles and activities.
  • Conduct unconscious bias training for management.
  • Review our grievance management system and processes and update them.

Measuring and reporting on progress

Demonstrating our progress and the positive impact of our commitment to social responsibility is increasingly important, not only for our own people and community partners but for governments, host communities, our shareholders and other stakeholders.

So we can transparently communicate our performance, we publicly report our progress against our Social Responsibility Strategy every year in our Social Responsibility Report and benchmark our performance against a number of leading sustainability indices and surveys.  

We publish information on our social responsibility management approach and recent performance in various formats in response to varying stakeholder information needs. Our social responsibility performance for 2016 is also included in the Oil Search Annual Report 2016.

We map how we have addressed the Global Reporting Initiative’s G4 Reporting Guidelines, IPIECA’s Oil and gas industry guidance on voluntary sustainability reporting and the UN’s Sustainable Development Goals. From 2017, we will also report performance against the Voluntary Principles for Security and Human Rights. See Reporting Index for an overview with links.