PetroEnergy has established a set of policies and procedures that tackle conduct, conflict of interest, financial management, hiring and recruitment, as well as roles of Board Members.
Compliance with the law is the minimum essential condition to the conduct of our business. All transactions and personal behaviors must conform to all applicable laws, rules, and regulations including prohibitions on insider trading.
Under no circumstances shall full compliance with all legal requirements be compromised. Business demands or market pressures shall not be used as reasons for circumventing the law or for outright violation of rules and regulations.
No officer or employee of the company shall accept or give any form of bribe, facilitation payment, kickback, or any other type of improper payment to any party for any reason.
PetroEnergy shall not participate in, or be associated with, any agreements or transactions with competitors that illegally limit or restrict competition, misrepresent competitors or their products, or improperly obtain confidential information and/or trade secrets of competitors.
Employees, officers, and directors must maintain the confidentiality of confidential information entrusted to them by the Company or other companies, including suppliers and customers, except when disclosure is authorized by contract or legally mandated. Confidential information refers to any non-public information, which, if disclosed to its customers, business associates, any other parties with whom the Company relates, or the general public, may erode the company’s competitive advantage. Unauthorized disclosure of any confidential information is prohibited.
Intellectual property such as trademarks, patents, copyrights, brand names, software, trade secrets, and any other proprietary materials are valuable company assets and shall be protected at all times. All Company resources including company time, supplies, software and hardware shall be used judiciously and only for legitimate business purposes.
Directors, officers, and employees must avoid any actual or apparent conflict of interest between private interests, including private interest of family members and close personal associates and friends, and the interests of the Company unless prior approval has been obtained from the appropriate approving authorities as prescribed by Company policies. Any actual or apparent conflict of interest and any material transaction that could reasonably be expected to give rise to a conflict of interest must be immediately disclosed to the Head of Corporate and Legal Affairs.
The Company shall provide timely, accurate, consistent, complete, and fair disclosure of material information to enable investors to make informed and orderly market decisions. Material information refers to anything that could potentially affect the Company’s share price including earning results, acquisition and disposal of assets, changes in the composition of the Board, related party transactions, shareholdings of directors, and changes to ownership. Other information that shall always be disclosed includes remuneration (including stock options), corporate strategy, and off-balance sheet transactions.
The Company’s Management shall be responsible for assessing and managing the various risks facing the Company while the Board must ensure that a system is in place; that the key risks are identified and transparent; that the system is robust, independent and fully aligned with the overall strategy; and that the Company develops and supports a true risk management culture.
PERC is committed to the implementation of the highest EHS standards in wind farm operations by using best practices available worldwide. With environmental protection as its core principle, PERC complies with global environmental standards as well as sustainable management, and will do its utmost to ensure the safety and health of all its employees and the community. Exemplifying EHS as our core management value, PERC is committed to providing renewable energy that will improve the quality of life of people in Panay Island.
By employing an environmentally friendly technology, PERC continually commits to assess and evaluate the risks generated by our activities, defining and communicating the appropriate preventive measures, followed by monitoring its proper implementation. In achieving these, we hereby adopt the following principles:
PERC is accountable for systematically managing EHS risks, opportunities, and impacts as an integral part of our business. All its employees, including subcontractors, will be involved in maintaining a safe and healthy workplace at all levels, and they will be held accountable for understanding and incorporating EHS responsibilities into daily work activities.
PERC will seek environmental proficiency enhancements by utilizing natural resources efficiently and reducing waste, discharges and emissions opportunities. The Company endeavors to improve its operations with focus on preventing environmental and safety incidents. As such, PERC will actively take part in the environmental protection efforts of local communities, fulfill social responsibilities, and engage in open communication with interested parties based on integrity and transparency. We are also committed to continuously investigating to better understand the nature of environmental effects, and we are responsible to share such information with the community and the stakeholders.
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