The management of climate-related risks is firmly integrated into the corporate governance structure at Genel. Our Board of Directors, with its deep and diverse knowledge of the oil and gas industry, is well equipped to understand the risks and opportunities associated with climate change and its impacts on the Group.

Climate related issues, specifically in relation to company strategy, risk management, and setting performance objectives, are addressed at Board meetings throughout the year, with resources dedicated through the HSSE Committee which meets three times a year. Risks allocated to the HSSE Committee under the risk management system are reviewed in detail and a report is provided to the Audit Committee on the effectiveness of the HSSE controls and risk mitigation. Fully recognising that this topic will continue to rise in importance among our stakeholders, Genel’s Board continues to increase its focus on the potential financial impact risks associated with climate change, especially in the wider context of Genel’s approach to ESG.

In 2019, Genel’s Board of Directors approved the Group’s ESG strategy alongside an ESG workplan outlining specific tasks and action items that serve as a performance indicator for how well the Group is meeting its stakeholder commitments and mitigating potential ESG risks. Commencing in 2020, our senior management will meet monthly to review our progress on the ESG workplan and to discuss other relevant sustainability issues. The business units will also continue to perform their own role at a local level.

Head of HSE & Risk During Site Visit to Taq Taq CPF facility

HSE forms a core focus of Genels operations and is kept front of mind through regular training sessions and site visits, which demonstrate clear leadership. In 2019 alone, we conducted 66 HSE management site visits, 105 emergency response drills and two crisis simulations exercises. This helps instil a culture of safety across the entire company.