Sustainability at Beach is about operating our business in a responsible and well considered manner, to deliver the maximum possible return to shareholders while sensibly managing the economic, social and environmental risks inherent within our industry.
In FY16, we implemented our new business strategy and placed an emphasis on growth and maintaining financial strength. This year Beach experienced significant changes brought on by the low oil price and experienced operational growth from its merger with Sydney based Drillsearch. We worked on implementing our new business strategy and revised our operating structure to ensure that we have the most efficient and effective structure to support the strategy. We also developed a Sustainability Policy which further strengthens our commitment to address material social, environmental and economic risks associated with our business. Additionally, we received a “Leading” rating by the Australian Council of Superannuation Investors (ACSI) for our sustainability reporting and environmental practices which is the highest of ACSI’s five categories.
Our most recent Sustainability Report can be downloaded here 2017 Sustainability Report
Beach has a code of conduct which sets out standards of behaviour expected of its directors and employees and contractors. In summary, those standards require:
Our Business Practices Policy and Guidelines as well as the Foreign Corrupt Practices Compliance Policy assist employees in recognising and avoiding corrupt practices, while conducting business internationally and at home. We also have a Whistle Blower Policy to ensure breaches of policy can be reported without fear of reprisal as well as a Share Trading Policy aimed at managing the risk of inside trading.
The Beach Board has overall responsibility for the integrity of our risk management system. The Risk Management Committee is delegated with management of the Company’s risks, based upon a globally accepted standard for risk management - ISO31000, and ensures an integrated company-wide approach to the incorporation of risk and reward considerations for all material business decisions.
Our investor relations program is comprised of face to face meetings with investors, regular company announcements lodged with the ASX and on the Beach website, corporate presentations at industry functions, investor days and field trips for analysts and institutional investors, and presentations for retail investors. The Company is conscious of ensuring that all investors are catered for within the program.
The Chief Operating Officer and Exploration and Development Manager conduct an annual 1,500 kilometer trip to visit landholders and station managers within the Cooper Basin to discuss the Company’s current activities and future plans, as well as answer any questions.
We are committed to engaging in and maintaining positive, long term, trusting relationships with Aboriginal communities from where we operate by adopting the following principles:
Operations - Beach will:
Training, employment and enterprise - Beach will:
Sponsorship - Beach will:
The Aboriginal Engagement Policy can be downloaded here 2015 Aboriginal Engagement Policy Beach Energy - Cultural Heritage - Cooper Basin