Beerensgas Social Responsibility

CORPORATE SOCIAL

www.beerensgas.com

Status-quo Beerensgas mission is to develop, own and operate the Group’s assets to the highest technical and commercial standards thereby maximising the benefits to its shareholders and other stakeholders. This includes zero tolerance for corruption; impeccable safety records; compliance with all environmental regulations and respect for human rights.

The Board of Directors (the Board) has adopted the Group’s policy for Corporate Social Responsibility (CSR) and is responsible for overseeing the Group’s CSR strategies and procedures. Environmental and health and safety KPIs are reported to the Board on a regular basis.

This initiated a process that will consolidate several policies and guidelines into a Group Code of Conduct and a Supplier Code of Conduct, which will be issued in 2018. The Company aims to conduct Group-wide training in the Code of Conduct once it is completed and issued.

SOCIAL AND ENVIRONMENTAL IMPACTS As a provider of LNG services,

communication, expectations

Beerensgas conducts activities that

expressed by governments and

may impact the environment and

civil society as well as recent

local communities. The Company

developments in international

is committed to ensuring safe and

standards.

sustainable management of such impacts. In 2017, Beerensgas took several important steps to further develop its CSR approach.

Most notable were the decisions to review the Company’s CSR governance systems and to report its sustainability performance according to the international guidelines of the Global Reporting Initiative (GRI) To ensure a targeted approach to CSR management and reporting, Beerensgas conducted a systematic materiality assessment of the Company’s environmental, social and ethical impacts. To capture external perspectives, key stakeholders – investors, banks and customers – were consulted directly. Several employees with extensive external contact also contributed with their experience of stakeholders’ perspectives, as raised through regular channels for dialogue such as investor roadshows, customer

To capture internal perspectives, an extensive selection of Beerensgas management and employees were asked to rate a list of CSR issues according to their impact on Beerensgas ability to achieve its objectives. Finally, the potential financial, legal, operational, strategic and reputational impacts of the most critical issues were assessed by Beerensgas ’s management team.

The following issues were identified as most important to Beerensgas: Working conditions and health and safety, ethics and anti-corruption, supply chain standards, climate change and environmental footprint, CSR due diligence, stakeholder engagement, tax and ship recycling.

This CSR report summarises Beerensgas ’s management systems, performance and future priorities in this area.

ECONOMIC CONTRIBUTION

OUR EMPLOYEES

Beerensgas contributes to economic

All managers conduct performance reviews

development not only by maximising shareholder

of all office employees on an annual basis.

value. Beerensgas also creates value by

Beerensgas has a clear policy to offer equal

providing services to its customers, which

opportunities. Discrimination based on race,

includes the economic benefit for the customer

gender or similar grounds is not accepted.

of access to competitively priced natural gas. In

However, male and female representation in

addition, Beerensgas creates value through the

the industry’s recruitment base is unequal, in

remuneration of its employees, payments to its

particular for maritime personnel. All members

suppliers and payments of taxes.

of the Board and top management are male.

HEALTH AND SAFETY Beerensgas depends on its dedicated and competent employees to deliver world-class services. Operation of LNG supply chain requires strong focus on safety. The Group’s safety culture is built on the firm belief that zero harm to people can be achieved. Beerensgas has developed several safety procedures and routines easily accessible to all employees. All operations of the Group are done according to the occupational health and safety standard OHSAS 18001.

ETHICS AND ANTI-CORRUPTION The Group’s global operations require high

The Company pays attention to business

attention to compliance and risk mitigation.

development projects as they may expose

Corruption is a pervasive problem in

the Company to corruption risk. New

global business, and the LNG industry is

projects

no exception. The LNG industry is typically exposed to facilitation payment risks relating to port access and services as well as corruption and bribery risk in relation to business development and securing permits and licenses to operate Beerensgas ethical rules define the Company’s values and the expected behaviour of all employees of the Group.

Beerensgas has zero tolerance for bribery and corruption and does not accept any use of facilitation payments. Further, the Group shall fully comply with insider trading requirements and competition rules in all jurisdictions where the Company operates.

and customers are therefore carefully assessed and subject to due diligence procedures. New agents acting on behalf of the Company and potential joint venture partners are subject to due diligence and Board approval prior to engagement.

Project members with the highest exposure to corruption risk receive more extensive training.

Beerensgas will also adopt a Code of Conduct based on internationally recognised standards covering issues such as human rights, labour standards, employment conditions and HSE, the environment and anti-corruption. The

The Company’s anti-corruption policy and

compliance officer provides annual reports

manual applies to all employees and are

to the Board on progress and activities in

part of the introduction program for all new

relation to anticorruption and compliance.

employees.

71-75 Shelton Street Covent Garden London WC2H 9JQ United Kingdom inquiries@beerensgas.com www.beerensgas.com +44 020 3908 0039