Living our values

Policies and charter
Addax Petroleum seeks to be a good corporate citizen in all aspects of its operations and activities. To this end, we bring together a series of operating principles under the broad heading of Corporate Social Responsibility (CSR) to serve as a guide to employees in all aspects of their work.

These operating principles include:

  1. Code of Conduct – Our Code of Conduct reflects how we expect our employees to behave in the marketplace. We want to foster the initiative and creativity of our employees and to promote a working environment based on communication and respect. The purpose of this Code of Conduct is to provide a common standard for behaviour in the performance of duties and in dealings with others.
  2. Ethics - General business principles – Summary of the Code of Conduct
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  3. Corporate Values – Addax Petroleum believes that core values are important to its business as they build the cultural context in which the company evolves, define how employees interact with each another, and shape the attitudes adopted towards all stakeholders.
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  4. CSR Policy – Addax Petroleum seeks to be a good corporate citizen in all aspects of its operations and activities. To this end, we bring together a series of operating principles under the broad heading of Corporate Social Responsibility (CSR) to serve as a guide to employees in all aspects of their work.
    The principles cover all areas of the Company’s operations and have been developed with reference to the relevant codes of corporate governance and best practice, including international statements and guidelines such as the UN Global Compact, the UN Universal Declaration of Human Rights, and the Convention of the International Labour Organization (ILO).
    Addax Petroleum is committed to long-term value-creation for its shareholder, employees, business partners, governments, and the communities where the Company operates. Management based on CSR is a way of pursuing these two goals, enabling us to build trust and accountability in our relationships with both our internal and external stakeholders.
    In alignment with Addax Petroleum’s long-term business management vision, we focus on a set of clearly-defined commitments in 6 core areas:
    • corporate governance
    • ethical business conduct
    • fair employment practices
    • workplace health & safety
    • environmental protection
    • socio-economic development & corporate philanthropy
    Taken together, these principles form our CSR policy and a set of procedures that reflect the Company’s commitment to responsible business practices.
  1. Social Investment– The objective of Addax Petroleum’s Social Investment Policy is to ensure that community projects and donations endorsed by the Company across the entire organisation are:
    • aligned with the Company’s business strategy
    • aligned with the Company’s key stakeholders’ needs
    • managed in a coherent and cost-efficient way
    • monitored and evaluated against common KPIs
    • reported consistently and meaningfully
  2. Sport Sponsoring – Sports reflect Addax Petroleum’s values of performance, team spirit and social commitment, which transcend cultural and language barriers. In this context, the sponsoring of sporting events aims at reinforcing the Company’s corporate culture by encouraging employee participation.

Global Compact
Sinopec participates in the United Nation's Global Compact www.unglobalcompact.org which entails a commitment to the active promotion of the Pact's ten values and respect for these values at every level of Company operations.
The Pact has been signed by many businesses from all sectors of the worldwide economy.
The Global Compact's ten principles in the areas of human rights, labour, the environment and anti-corruption enjoy universal consensus being derived from:

In its daily operations Addax Petroleum adapts a number of policies and procedures which guide its relations with its stakeholders in alignment with its shareholder’s vision.

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