Providing detailed information on how we achieve our targets and address our challenges highlights our commitment to responsible communication.
Executive Management Statement for UNGC
As a signatory to the United Nations Global Compact, we confirm our commitment to support the UN Global Compact universally accepted principles in the areas of human rights, labor, environment and anti-corruption.
We acknowledge the importance of corporate responsibility (CR) as it influences operating principles and guides our commitment to conducting business ethically, engage our employees, and protect the environment.
Our CR strategy is about creating value for people, communities, and increasing the impact of our activities. We are committed to building and promoting ethical values and behavior throughout our business and in addition, exert influence and share knowledge with contractors and partners to implement adequate policies and procedures that promote best practice to prevent bribery and promote ethical standards throughout our supply chain.
MPRL E&P, in working towards achieving our mission to be the leading oil and gas company in the country, acknowledges the importance of working responsibly and therefore embed the UNGC principles in our practices.
MPRL E&P’s 2019 Materiality Assessment
In the fiscal year 2019-2020, MPRL E&P has worked with CSR Asia (an ELEVATE company), an independent sustainability consultancy based in Singapore, to conduct an updated assessment of sustainability topics most material to the key stakeholders and the company now and in future, guided by a three-step process of the Global Reporting Initiatives (GRI). The words CSR, sustainability and ESG were interchangeably used in this analysis.
MPRL E&P last performed a materiality assessment in 2014-2015 in its effort to put a CSR strategy in place for the first time. When exploring the material topics in this 2019 materiality assessment, MPRL E&P has underscored achieving some important objectives as follows:
- Examining the wider context of sustainability in which the company operates,
- Identifying economic, social and environmental topics that are relevant to the company through related organizations and benchmarking,
- Engaging key stakeholders such as employees, government bodies and host communities to understand their interests and expectations of the company’s sustainability performance
- Assessing complications such as reputational and financial risks regarding the company’s social and environmental impact management as well as disclosure
- Reviewing MPRL E&P’s values, policies, strategies, management systems, and goals, to ensure the company is doing right and recognize there is always room for improvement
- Stepping up voluntary commitments to reporting on Environment, Social and Governance (ESG) performance of the company in line with stakeholder needs
Following the formal materiality assessment process which included selected interviews, Focus Group Discussions, an online survey with internal and external stakeholders, as well as a material workshop with Senior Management and Department Heads, MPRL E&P has come up with a list of sustainability topics that are considered material to the stakeholder engagement and reporting perspectives.
MPRL E&P recognizes the topics should not be viewed in isolation as they are increasingly interconnected and can render cross functional implications. They are the areas of focus with regard to sustainability in which the company can and will have the most impacts. In addition, they are the areas that potentially expose the company to the most risks, requiring managing their performance as a priority.
Find the 11 final material issues, out of the 26 sustainability topics initially identified through context review and benchmark exercise, in the top right-hand quadrant of the matrix that will inform our sustainability reporting in accordance with the Global Reporting Standards (GRI).