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[PDF] [Statement by Andrei Galaev, CEO, Sakhalin Energy Investment Company]

Author: Andrei Galaev, CEO, Sakhalin Energy Investment Company, Published on: 4 December 2012

As Sakhalin Energy CEO I would like to share with you some approaches used in our company. These practices have been successful for us, our partners and stakeholders...From our perspective, there are FIVE critical steps to put Guiding Principles to practice...Respect for human rights should be an integral part of any business activity, and companies should have appropriate formal policies and procedures in place...Development of a policy cannot guarantee that it is implemented in practice if a full due-diligence human rights process is not in place...Mechanism to remedy these concerns, or grievance mechanism, should be established and effective...Responsibility of a corporation to respect human rights must be related not only to business per se, but to the whole spectrum of corporate life, engagement with the outer world, relationships with all stakeholders...The progress should be controlled by top management of company. This should be supported by internal and external monitoring and audits.

Read the full post here

Related companies: Sakhalin Energy (joint venture Shell, Gazprom, Mitsui, & Mitsubishi)