The Staatsolie Corporate Governance Code came into effect in May 2020. This code, a set of guidelines for good governance, will make a major contribution to protecting the interests of all stakeholders. With the official introduction of the Corporate Governance Code, our systems have been further professionalized and a further step has been taken in the pursuit of becoming a world-class company.
What does Corporate Governance mean? Integrity is one of our core values. Corporate Governance is an important means of safeguarding integrity. Corporate Governance is the term for good corporate governance. This term is used to indicate how a company should be properly, efficiently and responsibly managed and how accountability for the policy pursued must be given to stakeholders, including the shareholder(s), employees, customers and society.
The Corporate Governance Code implements the following principles and provisions:
· Long-term value creation
· Effective management and supervision
· Risk management
Our Corporate Governance Code consists of five charters:
1. Supervisory Board Charter
2. Audit, Risk and Compliance Committee Charter
3. Nomination and Remuneration Committee Charter
4. Executive Board Charter
5. Integrity Committee
In addition, two policy documents are central to the Code:
1. The Code of Conduct
The Code of Conduct provides guidelines for the desired ethical framework of Staatsolie's employees and contractors. The Code of Conduct is currently being amended and will later be posted on Barreltje and Staatsolie's website.
2. The Whistleblower Policy
Although employees have always had the opportunity to report irregularities they have identified to our Integrity Committee, the Whistleblower Policy provides additional protection when reporting irregularities.
Check out our Media Center for all our Governance documents.