HAT TRICK achieved in Corporate Governance Award Category
As a continued sign of our initiatives and commitment in the area of Corporate Governance, on January 27, 2015 we were awarded by The Energy Chamber of Trinidad & Tobago, first place in the category of Corporate Governance for the third consecutive year. This continues to be a significant honour to all of us at TOSL for which we congratulate each and every member of our staff for their efforts in allowing us to win in this category again.
At TOSL, we continue to be proactive in Corporate Governance by improving our processes, looking at how our risks are monitored and assessed, and ensuring we optimize performance. This ensures our business is managed in the most transparent way to the benefit of our shareholders and all other stakeholders.
During 2014, we:
- Created a Corporate Governance Department charged with the responsibility of guiding the organization towards effective governance. Our initiatives included :
- The development of a Corporate Governance Manual sanctioned by John T. Dinner Board Governance Services from Canada
- The creation of a Board of Directors Charter
- Global anti-bribery regulations training for our Management team and key staff members via TRACE International with which we have been members of since 2007
- Increased Corporate Governance awareness internally by orientations, emails and staff meetings, and
- Alerted business associates on our Code of Business and Ethics Conduct.
- Redefined of our HR Dept. with an emphasis on strategic issues including succession & retention;
- Rolled out our new Procurement Policy with a clear focus on transparency; and
- Got involved in new areas such as Oil & Gas Brownfield Services, and Gas Collection System Design and Construction to protect the environment from Carbon Emissions.
Though TOSL has attained this achievement thus far, we strongly believe that our future success is hinged upon our continued advocacy and leadership in the area of effective Corporate Governance. We encourage other companies to get on board so we all can lead by example and demonstrate transparency in the Energy Sector. In the words of Nelson Mandela, “The time is always right to do right.”
We will continue to cut tracks to demonstrate our promise in this area.