Download the CR Report PDF (1.90MB) - Tullow Oil plc
Download the CR Report PDF (1.90MB) - Tullow Oil plc
Download the CR Report PDF (1.90MB) - Tullow Oil plc
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
CSR Committee and programme<br />
The CSR Committee is responsible for managing all <strong>Tullow</strong>’s<br />
community sponsorship support programmes and considers any<br />
matters relating to social, charitable, community and educational<br />
issues, toge<strong>the</strong>r with CSR publications and CSR expenditure.<br />
touraid<br />
In 2006, <strong>Tullow</strong> sponsored a group<br />
of 20 boys from <strong>the</strong> Kyadondo Rugby<br />
Football Club in Uganda, through<br />
a new charity called touraid, which<br />
aims to give opportunities to young<br />
people from disadvantaged<br />
backgrounds <strong>the</strong> chance to come<br />
to <strong>the</strong> UK to play rugby. touraid hopes<br />
to establish sustainable links, through<br />
rugby, between schools and clubs in<br />
<strong>the</strong> UK and <strong>the</strong> disadvantaged areas<br />
of developing nations to provide<br />
educational, cultural, economic and<br />
social benefits. <strong>Tullow</strong>’s sponsorship<br />
helped <strong>the</strong> young rugby players spend<br />
six days in <strong>the</strong> UK enjoying a variety<br />
of activities, including training with<br />
leading teams, playing a number<br />
of fixtures and forming <strong>the</strong> Guard<br />
of Honour to <strong>the</strong> South African<br />
team when <strong>the</strong>y played England at<br />
Twickenham. The UK schools that<br />
hosted <strong>the</strong>se young Ugandans also<br />
raised money to support <strong>the</strong>ir ongoing<br />
education when <strong>the</strong>y returned home.<br />
Our CSR strategy aligns investment<br />
with key areas and countries for business<br />
development. In 2006, funding for social<br />
and community projects amounted to<br />
US$1.5 million, up 12% on <strong>the</strong> 2005<br />
level. Information on <strong>the</strong>se projects is<br />
contained in <strong>the</strong> case studies throughout<br />
this report. The 2007 budget for funding<br />
social and community-based projects<br />
is US$2.5 million, representing both<br />
commitments under licence agreements<br />
and discretionary funding.<br />
<strong>Tullow</strong> has developed a set of project<br />
funding criteria which concentrate on<br />
<strong>the</strong> support of children, education and,<br />
where appropriate, fulfilment of basic<br />
needs, such as clean water. Projects<br />
considered will be mainly long-term<br />
investments where <strong>the</strong>re is established<br />
production, an operated activity or a<br />
key country for development. One-off<br />
investment will also be considered in<br />
<strong>the</strong> context of <strong>Tullow</strong>’s business.<br />
Overall, <strong>Tullow</strong>’s objective is to make<br />
a tangible, positive difference and to<br />
foster and support longer-term<br />
development and self-sustaining<br />
enterprise in local communities.<br />
The responsibilities of <strong>the</strong> CSR Committee<br />
are to:<br />
• Develop and implement a framework<br />
for submission, assessment and<br />
approval of discretionary and mandatory<br />
community, social and educational<br />
expenditure undertaken by <strong>Tullow</strong><br />
Group-wide;<br />
• Consider and propose an annual<br />
budget for CSR activities to <strong>the</strong> Board<br />
for approval as part of <strong>the</strong> overall<br />
Group budgeting process;<br />
• Evolve and fur<strong>the</strong>r develop <strong>Tullow</strong>’s<br />
social and ethical policies as part of <strong>the</strong><br />
overall risk management framework of<br />
<strong>the</strong> business;<br />
• Prepare <strong>the</strong> CSR <strong>Report</strong> annually;<br />
• Review <strong>the</strong> internal CSR programme,<br />
ensuring co-ordination between internal<br />
and external activities and ensuring that<br />
<strong>the</strong> internal CSR function is adequately<br />
resourced and has appropriate standing<br />
within <strong>the</strong> Group; and<br />
• Consider o<strong>the</strong>r CSR matters as specified<br />
by <strong>the</strong> Board.<br />
In <strong>the</strong> 2005 CSR <strong>Report</strong> we<br />
documented <strong>the</strong> key Social, Ethical<br />
and Environmental (SEE) issues for<br />
<strong>Tullow</strong>. Feedback from shareholders<br />
requested that we enhance this<br />
information by including exactly<br />
how we address <strong>the</strong>se issues,<br />
highlighting <strong>the</strong> key aspects of<br />
<strong>the</strong> Group’s policy in each area<br />
and integrating all <strong>the</strong> elements<br />
of related information into one<br />
area of <strong>the</strong> report. We have done<br />
this on pages 10 and 11.<br />
8 <strong>Tullow</strong> <strong>Oil</strong> <strong>plc</strong> Corporate and Social Responsibility <strong>Report</strong> 2006