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1. Adopt Responsible Governance
and Management
Objective: To base the
operation of exploration on sound management systems, professional
excellence, the application of good practices, constructive interaction
with stakeholders, and the principles of sustainable development.
Introduction
Governance consists of management structures and processes that
determine how decisions are made.
Responsible corporate governance is fundamental to the
implementation of these Principles and Guidance. Responsible governance
enables an organization to:
- Establish a clear vision and direction to achieve objectives;
- Promote credibility, trust and broad acceptance of its decisions
and actions;
- Build constructive relationships;
- Improve performance, and
- Manage risks more effectively.
Responsible governance should be based on:
- Respect for the rule of law;
- Transparency, accountability, reliability, and cooperation;
- Ethical conduct, honesty and integrity;
- Fairness and equity;
- Awareness of its impact on others;
- Respect for the interests of others; and
- Inclusion and participation of others in decisions that affect
their interests.
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