According to the Corporate Governance Code, KMG is aware of the importance of its influence on the economy, the environment and society and, striving to increase long-term value, ensures its sustainable development while respecting the interests of stakeholders. We are focused on ensuring the consistency of our economic, environmental and social goals for sustainable development in the long-term period.
Our approach to sustainability aspects is based on the following sustainable development principles.
The sustainable development principles are disclosure, accountability, transparency, ethical behavior, respect, rule of law, respect for human rights, intolerance for corruption, unacceptability of conflict of interest, personal example. More details about the principles of sustainable development can be found in the Corporate Governance Code.
In its Development Strategy 2028, KMG defined sustainable development as one of the strategic objectives aimed at integrating the sustainability principles in the key business processes, operations, and decision-making practices.
Implementation of the strategic sustainability goal shall result in a sustainability management system to achieve the improved corporate social responsibility, health, safety and environment, improve economic effect within the company geography, counteract corruption, improve interactions with stakeholders, corporate governance rating, general corporate ethics and compliance culture.
We seek to ensure a high level of openness and transparency of our activities by implementing the principle of active dialogue with stakeholders.
KMG provides the full operating cycle from HC exploration and production through transportation and refining to distribution of crude oil and oil products both in Kazakhstan and abroad, and represents state interests in the oil and gas sector. Having a complicated structure and various activities, KMG is interacting with a wide range of stakeholders.
KMG is constantly making efforts to build up a dialogue, long-term cooperation and management of relations with its stakeholders.
KMG has an approved Stakeholder Map, which takes into account risks and rankings (based on direct or indirect dependence), obligations, the situation (with a special focus on higher-risk areas), influence, and different prospects. To ensure effective achievement of the goals, Stakeholder Engagement Plans are developed. When defining stakeholders and stakeholder engagement, KMG applies the best stakeholder engagement practices, including international standards, such as AA1000SES Stakeholder Engagement Standard.