Annual Report 2011 - PGS

Corporate
Responsibility:
PGS’ Definition
PGS first Responsibility
Review 2011 describes the
Company’s various CR
systems and processes
In recent years, PGS has undertaken an
internal review of how the Company address
the many aspects of Corporate Responsibility
(CR). In 2010, an internal assessment and a gap
analysis were conducted, comparing current
PGS policies, initiatives and practices with
international standards, recommendations and
principles as set forth in the OECD Guidelines
for Multinational Enterprises and the UN Global
Compact.
In 2011, PGS established an internal advisory
group, made up of senior managers and
specialists, to review the Company’s current
performance, compare it with benchmark
principles, refine and, where necessary, redefine
the Company’s ambition levels.
PGS’ many stakeholders are increasingly
expecting the Company to communicate
its Corporate Responsibility goals and PGS
wants to use this opportunity to demonstrate
its performance. Stakeholders include
PGS employees, investors, customers,
subcontractors, agents and the local
communities in which the Company operates.
In 2011, PGS adopted the Company’s Corporate
Responsibility Framework consisting of
four fundamental building blocks: People,
Environment, Conduct and Stakeholder
engagement. Each category addresses a
range of related issues commonly associated
with Corporate Responsibility. Naturally,
CR awareness and compliance issues span
traditional departmental borders.
PGS’ Corporate Responsibility Framework
guides the Company’s performance and
ensures that PGS:
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Provides the safest working areas for
employees, contractors and third parties to
enable the Company to acquire better seismic
data more efficiently than competitors
Conducts business activities according to
PGS’ Core Values, addressing all legal and
regulatory requirements relevant to the
Company’s activities
Minimizes harm to the environment and local
communities by assessing and reducing the
environmental and social risks associated
with PGS’ operations
Communicates with stakeholders in a timely
and transparent manner.
PGS first Responsibility Review 2011, which is
published separately from this annual report,
describes the Company’s various systems and
processes. The Responsibility Review provides
transparent insight into PGS’ culture of
Corporate Responsibility.
PGS believes that it has much to be proud of
in regards to its commitment to Corporate
Responsibility and CR performance throughout
the Company, both at sea and in the offices, in
R&D projects and at data processing centers
worldwide.
38 PGS Annual Report 2011