Principle 3 – Stakeholder and Social Responsibility

Principle 3 – Stakeholder and Social Responsibility2018-09-28T16:41:31+00:00

The Board recognises that the long-term success of Tower and value creation for shareholders depends on good relations with both internal (shareholders and employees) and external stakeholders (advisors, license partners, technical consultants, governments).

The Company maintains a regular dialogue with its external stakeholders, especially the oil & gas ministries of foreign governments where the Company has its operations or licence applications, such as Cameroon, Zambia, South Africa and Namibia. The Company also works closely with its advisors to ensure it complies with its AIM listing requirements, MAR and FCA disclosures, as well as the social, legal and financial requirements of the countries in which it operates.

Health, Safety and Environment (HSE)

Health, Safety and the Environment (HSE) are of paramount importance to the oil & gas industry with the potential for high profile and severe consequences on the rare occasions where strict compliance to HSE has not been maintained or things go wrong.

Tower is committed to excellence and continual improvement in operations and HSE standards throughout its activities. The Company complies with all applicable laws, governmental rules and regulations and other requirements of its host countries and strive to meet the following broad goals:

  • Protect the health and safety of its employees, contractors and others who may be affected by its activities;
  • Prevent environmental pollution;
  • Promote the needs of the local communities; and
  • Optimise raw material and energy consumption to minimise waste.

We will achieve this by:

  • Strong leadership and clearly defined responsibilities for HSE at all levels of the organisation;
  • Setting and reviewing HSE goals and objectives;
  • Hiring of competent staff to manage the business;
  • Identifying, assessing and managing HSE risks to people and the environment as an integral part of the business;
  • Emergency planning to ensure that an emergency can be quickly and efficiently contained;
  • Selection of competent contractors and suppliers to support the company;
  • Reporting and investigating incidents to ensure appropriate lessons learned;
  • Monitoring HSE performance through regular reporting; and
  • Periodic audits and management reviews to identify and implement improvements to our HSE systems.

We all have a responsibility for maintaining high standards of HSE and this policy shall be used to guide our activities and our HSE standards should not be compromised by other business priorities.

Social Responsibility Statement

Tower places great importance on establishing good relationships within the communities in which it operates, and the group is committed to best practice, consistent with IFC guidelines and the “Equator Principles” in its management of social issues in its areas of operation. Planning to manage the environmental impact is very comprehensive and adherence to the spirit, as well as the letter, of Environmental Impact Assessment is a fundamental aim.

Local relationships are led by Tower’s local country manager facilitated by focused social investment projects established after consultation with national and local government and the communities themselves to establish the greatest need and the potential for sustainability.

Community Programmes

Throughout its operations in Zambia, Cameroon and Namibia, Tower has supported a programme of communicating with, and supporting, local communities to ensure that they are aware of the operations being undertaken by the Company and potential benefits that Tower are bringing to communities through its investment in local operating companies. Importantly, “Town Hall” meetings are held to present the environmental impact assessments of, geological sampling and fieldwork, seismic and drilling operations so that local communities can ask questions and obtain reassurances prior to the commencement of operations. Other examples of community engagement include:

  • Promoting wider awareness of the Company and the oil industry;
  • Establishing a strong local identity through employment and training of locals to manage key areas of the business;
  • Communication with local communities in all areas to keep them informed of operations;
  • Consultation to gain feedback and understand community priorities for Tower’s social investments;

Building local capacity for the long term through encouragement of local educational initiatives and use of local labour and contractors.