Baltic Oil Terminals is accountable to its shareholders but we also take into account the interests of all its stakeholders (including employees, customers and suppliers as well as the community and environment in which it operates). The organisation aims to achieve clarity, fairness and effectiveness in the setting of policies and procedures.
Shareholders:
- SH1: Baltic Oil provides regular reports that provide shareholders with a clear understanding of the organisation’s finances and operations.
- SH2: Relevant material issues are disclosed to all shareholders in a timely fashion.
- SH3:Strategy and prospects are clearly communicated.
- SH4: There is a process to ensure that significant financial and non-financial risks are assessed and there are appropriate controls in place to manage them.
- SH5: There are procedures to guard against insider trading and misappropriation of information.
- SH6: There is a process to review corporate governance to assess compliance with relevant local codes.
- SH7: The principles and practices of corporate governance are clearly communicated to shareholders and variances from relevant codes are explained.
- SH8: There is a process to deal with queries and complaints from shareholders regarding corporate governance within a defined timescale.
Employees:
- EM1: There are clear employment terms and conditions for all employees.
- EM2: There is a process to ensure that the privacy of employees is respected.
- EM3: There is a clear disciplinary procedure that is applied fairly.
- EM4: There is an effective process to deal with employee complaints and grievances.
- EM5: Freedom of association and organisation of employees is respected.
- EM6: There are effective employee communication processes.
- EM7: There is a process to monitor compliance with relevant employment laws and regulations.
- EM8: There are procedures to ensure the provision of a healthy and safe working environment and the continuous improvement of health and safety performance.
- EM9: There are processes to provide adequate resources and training for the provision of a healthy and safe working environment.
Customers:
- CU1: Terms of business with customers are clear and respected.
- CU2: Confidential information received from customers is protected and used only in ways explicitly agreed.
- CU3: Baltic Oil ensures that none of its advertising, public statements and customer information is misleading or causes public offence.
- CU4: There is a process for acknowledging and resolving customer complaints and comments within a defined timescale.
- CU5: Customer feedback is taken into account in developing and reviewing customer policies and practices.
- CU6: The organisation provides the products and services to the standards that have been agreed.
- CU7: The specification of products and services is clear, including, where appropriate, quality, total cost, delivery charges and timescales for delivery.
- CU8: The organisation’s after-sales obligations are clearly stated and met.
Suppliers:
- SU1: There are clear and transparent processes for selecting suppliers and contractors.
- SU2: Terms of business with suppliers and contractors are clear and respected.
- SU3: Where business terms are changed, the impact on suppliers and contractors is considered before implementation.
- SU4: Confidential information received from suppliers and contractors is protected and used only in ways explicitly agreed.
- SU5: There is a process for acknowledging and responding to supplier and contractor complaints and comments against a defined timescale.
- SU6: Supplier and contractor feedback is taken into account in managing supplier relationships.
- SU7: There is a process to ensure that all suppliers and contractors are routinely paid in accordance with agreed terms.
- SU8: There is a process to ensure that there are no forms of bribery or corruption in relation to suppliers and contractors.
Community:
- CO1: The organisation’s plans and activities take into account the impact on communities.
- CO2: There is a process in place to deal with enquiries and complaints from members of the local or national community within a defined timescale.
- CO3: There is a programme of support for community projects and activities that is appropriate to the organisation and the needs of the community.
- CO4: There is a process to ensure that there are no forms of bribery or corruption in relation to public officials and public bodies.
- The organisation is sensitive to the local community’s cultural, social and economic needs.
- CO5: The organisation engages in meaningful dialogue with the community where there are concerns about its products, services or operations.
- CO6: There is a process to ensure that risks to public safety resulting from the organisation’s products and operations are minimised.
Environment:
- EN1: The organisation identifies and measures the impacts of its operations and products on the local and global environment, including climate change.
- EN2: The organisation monitors and continuously reduces its environmental impacts.
- EN3: Where appropriate, there is a process to encourage environmentally responsible use and disposal of products.
Management Commitment:
- MA1: The responsibility for adhering to this Standard rests with the senior management team.
- MA2: There is a process to ensure that employees are informed of their responsibilities in adhering to this Standard.
- MA3: Confidential reporting channels are in place where appropriate.
Kaliningrad Terminal Operations Review
