Our SPEED/ESG 2019 Report is our second sustainability report under the guidelines proposed by the Global Reporting Initiative (GRI) in its latest version, the GRI standards, and we share it with our stakeholders as another example of our commitment to transparency and to the generation of value that have always characterized our actions. Through the content of these pages, we are making visible the way that we manage our impacts on operational, financial, environmental and social dimensions.
The report has been written in accordance with the Core option of the GRI standards, and includes the management developed between January and December 2019. It covers the operations we undertake in Colombia, Peru, Argentina, Brazil, Chile and Ecuador. The preparation of the report was based on compliance with the principles for the definition of content and quality proposed by the GRI standard, and although it was not subject to a process of external verification, it was validated by internal control systems and was directly monitored by the GeoPark Executive Team, which guarantees its integrity and credibility. Regarding the previous report, this edition does not restate figures or information, nor does it express fundamental changes.
Our 2019 report maintains the structure of the 2018 edition to guarantee the alignment and continuity of the information, which is presented in six content chapters that account for GeoPark’s management of the main sustainability issues. The first chapter presents the organization, its business model and value proposition, GeoPark culture, Corporate Governance, the Ethics and Compliance Program, advances in human rights and the framework for corporate communications and dialogue with stakeholders. In the five following chapters we present our SPEED value system that focuses on managing the main areas of sustainability, as follows: “S” Safety, “P” Prosperity, “E” Employees, “E” Environment and “D” Community Development. Under each of these principles we account for our actions and commitments, which are aligned with ESG investment criteria (Environmental / Social / Governance). Information related to Environmental criteria can be found in our chapter on “Environment”; information related to Social, issues in the chapters on “Safety”, “Employees” and “Community Development”; and information related to Governance, in the chapter “GeoPark – Corporate Governance”.
The content of the 2019 report maintains the emphasis on the materiality exercise defined in 2017 and adjusted in 2018, which culminated in the definition of 24 material issues related to the five elements of our SPEED value system: Safety, Prosperity, Employees, Environment and Community Development.
The first version of the material sustainability topics was defined using three main steps: first, a preliminary self-evaluation that through quantitative analysis established the relevant topics for the Company, with the aim of linking them to our value system. Then there was a workshop with the GeoPark senior team in which we decided on the topics that potentially could be reported. Following this exercise, we developed a series of interviews and focus groups with managers and coordinators from different areas, which helped us adjust the materiality and identify the key performance indicators (KPIs) to evaluate our management.
Finally, through focus groups and interviews, we collected information with social leaders in our areas of operations, who described the matters relevant to their municipalities and complemented our definition of material topics. This identification allowed us to focus our sustainability report on the chosen topics and to concentrate our commitment on their implementation and closing the gaps identified.
- Health and safety management
- Health and safety training
- Road safety