Valeura sustainability oil tanker ship

Sustainability

Supporting Data  /  Our Stakeholders

Our Stakeholders

Valeura has identified key considerations for each stakeholder group, and has defined its means of engagement and interaction as follows:

Stakeholder Group Key Considerations Engagement and Interaction
Contractors
  • Working conditions that prioritise safety and wellbeing through proactive measures
  • Continued professional business relationships
  • Access to workspace and equipment conducive to optimising productivity
  • Transparent and timely compensation

Direct Engagement:

  • Open communication forums, townhalls, workshops and engagement events, usually in conjunction with employee events
  • Videos, meetings, emails, and web-based platforms for internal communications
  • Internal journalism through SharePoint publications covering strategic endeavours, Company performance, and community engagement projects
  • Opportunities for contractors to participate in engagement events as well as targeted training and workshops to enhance contractor skills

Strategic Interaction:

  • Stakeholder perspective and preference surveys
  • Grievance mechanism to address and resolve concerns
  • Promotion and encouragement of contractor participation in the Health, Safety, Security and Environment (HSSE) Committee
Domestic and International Customers
  • Safe, responsible, and efficient fulfilment of contractual obligations
  • Transparency and timeliness in the bidding process
  • Assurance of product quality, specifically regarding potential contamination

Direct Engagement:

  • Regular meetings, monthly calls, and quality certification with a focus on customer satisfaction in compliance with ISO 9000
  • Stakeholder perspective and preference surveys

Strategic Interaction:

  • Issuance of tender invitations two months in advance and ensuring transparency in the bidding process
  • Grievance mechanism to address and resolve concerns
  • Crude assay assessments to ensure quality of products and consistency verification
Employees
  • Working conditions that prioritise safety and wellbeing through proactive measures
  • Equitable and competitive compensation and benefits
  • Continued employment/business relationship with structured opportunities for professional growth and skill development
  • Access to workspace and equipment conducive to optimising productivity
  • Stable employment
  • Transparency and equity in remuneration, including benefits

Direct Engagement:

  • Open communication forums, townhalls, workshops and employee engagement events
  • Videos, meetings, emails, and web-based platforms for internal communications
  • Internal journalism through SharePoint publications covering strategic endeavours, Company performance, and community engagement projects
  • Targeted training and learning opportunities for skill enhancement

Strategic Interaction:

  • Stakeholder perspectives and preferences surveys
  • Grievance mechanism to address and resolve concerns
  • Provision of ongoing learning opportunities for skill enhancement, including in-house hands-on workshops and courses
Government Authorities
  • Compliance with high standards of transparency and governance
  • Regular communication with relevant government agencies to exchange operational information and reinforce cooperation
  • Execution of a robust investment strategy for mutual value creation
  • Commitment to exceptional safety performance
  • Rapid and efficient response to emergency situations
  • Demonstrated aspirations to energy security and transitioning toward a lower carbon economy
  • Participation in community development and sustainability initiatives

Public Disclosures:

  • Website and social media platforms

Public Meetings:

  • Collaborations with government-associated/government-affiliated industry groups, such as Petroleum Institute of Thailand (PTIT)

Direct Engagement:

  • Communication through Country Manager and Government Affairs teams
  • One-on-one meetings
  • Collaboration on environmental activities, and community development initiatives with key government entities
Industry Peer Organisations
  • Compliance with industry regulations and standards, ensuring alignment with industry best practices
  • Active participation and contribution in industry-led initiatives
  • Knowledge-sharing activities and technical communities for industry advancements

Direct Engagement:

  • Meetings, seminars and workshops with industry peers
  • Knowledge and experience sharing on potential standards for regulatory framework development (including oil spill response preparedness, decommissioning best practices, etc.)
Local Communities
  • Contribute to community development including infrastructure and educational support
  • Partner with other parties to implement initiatives
  • Collaboration initiatives with the local community
  • Considering impacts on community livelihood, especially the fisheries community
  • Transparent communication on operations, plans and potential impacts
  • Proactive management and addressing of community concerns for a harmonious relationship

Public Disclosures:

  • Website and social media platforms, including local language accounts

Direct Engagement:

  • Local community meetings
  • Special events to foster community engagement

Strategic Interaction:

  • Annual mapping and communications oversight of interactions by country management and government affairs team
  • Establishment of a robust grievance mechanism to address and resolve stakeholder concerns effectively
  • Corporate social responsibility (CSR) projects
Media
  • Access to information
  • Report on positive or negative development of business
  • Access to relevant information on business growth, execution of Company's strategy

Public Disclosure:

  • Publicise business activities and news through written, visual, and video content through social media platforms

Direct Engagement:

  • Journalist interviews
  • Proactive media outreach through public relations agents
  • Continual accessibility of Company spokespersons, as governed by the Company's disclosure policy
Potential Debtholders
  • Commitment to meet debt repayment obligations and financial covenants
  • Prescription of sustainability reporting formats/metrics/standards

Direct Engagement:

  • Direct engagement with lenders through the debt negotiation process
Shareholders
  • Financial performance (value growth)
  • Sustainable and responsible implementation of business strategy
  • Transparent reporting of sustainability (ESG) and operational performance in alignment with international standards
  • Demonstration of strategic direction in reducing greenhouse gas (GHG) emissions

Public Disclosures:

  • Disclosure in accordance with regular/stock exchange-mandated channels: distribution of press releases through an approved newswire service, SEDARplus.ca
  • Disclosure of insider trading reports in accordance with securities rules and regulations through the online System for Electronic Disclosure by Insiders (SEDI), sedi.ca
  • Management's discussion and analysis (MD&A), financial reports and annual information form
  • Corporate website and social media presence

Online Interaction:

  • Quarterly webcasts and Q&A sessions
  • Video recordings and media interviews

Direct Engagement:

  • Two-way communication with the research analyst community
  • Ad hoc inbound queries, one-on-one interviews and conversations, and sustainability-related surveys

Public Meetings:

  • Annual general meeting (AGM), investor conferences, and non-deal roadshows
  • Capital markets day events
Suppliers
  • Maintain asset integrity and safe operations while adhering to industry standards on safety, at a minimum
  • Effective control measures to prevent critical incidents (e.g. spills, asset damage, etc.)
  • Continued business relationships
  • Seek new business opportunities and partnership for mutual business growth

Public Disclosures:

  • Website and social media platforms
  • Direct engagement through the negotiation process

Strategic Interaction:

  • Stakeholder perspectives and preferences surveys
  • Grievance mechanism to address and resolve concerns
Thailand Partners
  • Mutual growth and success
  • Transparent communications
  • Reliable and sustainable operations
  • Adherence with joint operating requirements including technical input
  • High standards for safe and efficient operations
  • Ethical business practices

Public Disclosures:

  • Website and social media platforms

Direct Engagement:

  • Regular meetings in accordance with joint operating agreements
  • Technical committee collaboration
  • Comprehensive reports on performance, plans, and asset strategy