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Sustainability

Sustainability is the path Pluspetrol has chosen to grow

Taking the Sustainability Policy, the Company’s highest hierarchy regulation document as a starting point, Pluspetrol seeks to steer it's decisions and activities from a responsible behavior that balances short and long-term objectives, considering the environmental aspects of their activities, fostering relationships of trust with our stakeholders, the creation of shared value and ethical behavior on every level.

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Sustainability Policy

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The principles presented below support this commitment, which are developed in different management systems for both the corporation and in the different business units.

Business management is focused on the Company’s economic, social and environmental sustainability, as well as that of the areas where we operate, through ethical and transparent behavior.

Pluspetrol manage sustainability through the development of management systems within a framework of ongoing improvement, with defined processes, in-house developed skills and the proper technology.

Performance is meassured our performance through indicators that allows the team to assess, verify and report on the compliance with legal requirements and the objectives in a context of continuous learning.

Managing risk is an essential aspect of our activity; Pluspetrol takes the appropriate decisions according to the level of risk, minimizing negative impacts and optimizing the benefits and opportunities created by its activity throughout the life-cycle of each project.

The company builds and sustain trust-based relationships with its collaborators, contractors, providers, and different stakeholders, taking into account their expectations while striving for shared value generation and respect for Human Rights.

Pluspetrol promotes fair work practices and a safe, healthy and environmentally-friendly working environment for all Company employees and contractors.

Pluspetrol operates safely and responsibly, taking a preventive approach, seeking to avoid any incidents and to minimize adverse impacts on every team, the environment and our neighbors.

The company use the best available technologies that fit the level of risk and encourage the efficient use of energy and natural resources.

Promoting harmonious relationships with the communities in which they operate, seeking to improve their quality of life and development while preserving biodiversity and local cultures is key to they company's strategy.

Main Pillars

In line with Pluspetrol's Sustainability Policy and international standards of behavior, the company has a Human Rights Policy, conveying that our primary commitment to human rights is to respect their in all our activities and business relationships, including the rights of our employees, their contractors and their employees and other related stakeholders.

ENVIRONMENTAL MANAGEMENTnative COMMUNITIESCOMMUNITY AFFAIRSOPERATIONAL EXCELLENCEBUSINESS ETHICS AND TRANSPARENCY

download HUMAN RIGHTS POLICY

Sustainable Development Goals (SDG)

Due to the particularity of Pluspetrol's operations and the characteristics of the countries where they operate, our main contributions to the Sustainable Development Goals (SDG) are linked to energy production, the promotion of safe and quality employment opportunities, the generation of economic value, the support for community development through social investment, and the rational management of resources.

In line with this, the company's activities are further aligned with the following SDGs:

Health and Welfare

Education Quality

Affordable and Clean energy

Decent work and economic growth

Industry, innovation and infrastructure

Responsible production and consumption

Climate Action

Life of terrestrial ecosystems

Peace, Justice and strong institutions

Partnerships to achieve goals

Sustainability Report

The Sustainability Report is published annually and summarizes the main activities carried out by Pluspetrol in terms of economic, environmental, governance, safety and social performance. It is prepared in accordance with the version 4 GRI’s guidelines for the oil and gas sector and the guidelines of the “Oil and Gas Industry Guidance on Voluntary Reporting”, jointly prepared by IPIECA, API and IOGP.

Environment

A large portion of Pluspetrol’s activities are carried out in remote areas with high levels of biodiversity, in sensitive ecosystems, or in areas that are home to native communities or rural populations who use natural resources for survival. This means he company need to implement specific strategies in each situation, to apply technological solutions, and to improve its practices and tools for environmental and social management to ensure they enable us to prevent, minimize and mitigate potential impacts. In every operation, a series of indicators are continually being monitores, which allows the company to assess envoronmental and social management, in order to establish improvement measures based on concret information.

Environmental Management

To be sustainable in operations and projects, Pluspetrol manages the environmental and social aspects by adapting it's strategies and technologies to the sensitivity of each environment. As such, the company have positioned as pioneers in specific techniques such as offshore and inland operations, drill cuttings re-injection in sensitive areas, community monitoring programs and the design and implementation of programs for the monitoring and evaluation of biodiversity.

3 Core Concepts of Environmental

PRESERVATION OF BIODIVERSITY

RATIONAL USE OF ENERGY

NATURAL RESOURCE MANAGEMENT

Community Investment

In all the social initiatives carried out by Pluspetrol, social development is understood as a key element for sustainability.

The pillars of Pluspetrol’s social investment

Education

Educational programs, improving basic infrastructure, teacher training and supporting students through scholarships.

Health

Initiatives to improve the welfare of communities through prevention and care programs and health services.

Institutional

Strengthening Activities that enhance the self-management of social organizations.

Community Development

Sustainable initiatives, vocational training and the improvement of infrastructure to encourage productive independence.

Native Communities

A large number of Pluspetrol's operations are carried out in areas inhabited by indigenous communities, with great natural wealth and biodiversity. The company encourage initiatives that ensure compliance with and the protection of their rights, taking into consideration the social, environmental and cultural context. These initiatives are inspired by local and international legal instruments on Human Rights and the Rights of Indigenous People aimed at:

Ensuring the proper conduct of workers.
Encouraging the institutional strengthening of indigenous organizations to strengthen their self-management capabilities.
Promoting respect for territorial and cultural rights through social investment programs and projectSs.
Implementing community environmental monitoring programs with the active participation of indigenous representatives.
Developing agreement, compensation and payout programs, based on consensual decisions.

Operational Excellence

All areas of Pluspetrol rigorously strive to optimize their applied practices. This ongoing quest is aligned with suppliers and stakeholders, who all share the same commitment. As such, everyone is all on the same path: the path towards Operational Excellence. The main reason for this strategy is to improve and consolidate management at every step of the way. For this reason, Pluspetrol is positioned as an industry leader in safety, reliability and efficiency.

This method of work seeks to align all links in the chain with the processes, techniques and leadership skills that are vital to achieving our objective. There is no doubt that building and achieving excellence is challenging. It also requires training, an understanding of international standards and collaboration in applying them.