5
CORPORATE
PRACTICES
AND POLICIES
THE FRAMEWORK
Corporate-level policies and practices provide a strong framework and
foundation for the work we do around the world. They enable us to
maintain consistently high standards no matter where we do business.
They are also critical to our success regardless of where a project might
be in the exploration and production lifecycle.
Here is a quick look at the progress we made in 2013 in several key areas:
The Business Principles
guide our decision-making.
Business Principles
Kosmos’ Board of Directors adopted our
Business Principles in early 2013. These
Principles guide our decision making as
employees and as a company. In 2013, we
introduced the Business Principles to all employees globally and formed a cross-functional Business Principles “Champions Team”
to advance these commitments. Our leadership regularly reinforced the importance
of the Business Principles, and through the
Champions Team, we opened a dialogue
with employees on areas for potential improvement. This is an ongoing effort that will
continue through 2014 and beyond.
Oversight of Corporate Responsibility
Kosmos created a standing Board committee
on external affairs and political risk, which regularly evaluates our performance against the
Business Principles and advises management
on above-ground risk issues. To enhance the
oversight of this board committee, we have
developed a framework that connects country-level operations to board-level reporting.
Human Rights
As part of our Human Rights Policy implementation, we began using the United Nations Guiding Principles on Business and Human Rights as a touchstone in measuring our
performance. We also joined the United Nations Global Compact to further underscore
our commitment to this important area. We
included specific expectations in The Standard (our Health, Safety, Environment and
Security