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Values Matter
Sustainability Report
Values Matter
2016 Sustainability Report

Governance Dashboard

Excellence. Trust. Respect. Responsibility. These four core values guide what we do and how we do it.

SDG 13.1. Take urgent action to combat climate change and its impacts

This applies directly to Vermilion’s investments in environmental protection, disclosures of GHG emission and intensity data, internal carbon pricing and carbon liability analysis, and overall governance of climate risks and opportunities.

SDG 16 covers a range of issues that are integral to effective business governance at Vermilion

Commitments and Progress

2016 Target2017 Target2018 Target

Conduct annual "say on pay" advisory votes at AGM

 

Received 96% shareholder approval

Conduct annual “say on pay” advisory votes at AGM

 

Received 97% shareholder approval

Conduct annual “say on pay” advisory votes at AGM

Roll out one-button access to send concerns anonymously to our Corporate Secretary across all locations

 

100% achieved: anonymous link at www.vermilionenergy.com

Develop procedures for contractors to confirm annually awareness of and compliance with our Code of Business Conduct

 

100% achieved: contractors are now included in the annual sign-off via our personnel information system

 
 

Move sustainability reporting from annual to ongoing updates, continuing to use the GRI G4 framework but incorporating the Global Sustainable Development Goals

 

100% achieved

Analyze recommendations from the Task Force on Climate-Related Financial Disclosures regarding governance and reporting, where they are not already in place

Key Updates

Board Composition: As of November 30, 2017, Vermilion’s Board of Directors is comprised of 11 directors and 1 corporate secretary. Nine Directors (82%) are considered independent, and two (18%) are female. Mr. Anthony Marino and Mr. Lorenzo Donadeo are non-independent directors.

Board Tenure: In the last three years, we have appointed five new directors who bring valuable skills and experience to our company; 56% of our directors have a tenure less than five years.

CEO Pay Ratio: Although not required by regulations such as the Dodd-Frank Wall Street Reform and Consumer Protection Act, we disclose the annual total compensation of our CEO to the median annual total compensation for employees. G4-53, G4-54 Vermilion’s 2016 CEO-to-worker ratio of 25-to-1 is magnitudes lower than the 347-to-1 ratio for S&P 500 Index companies reported by the American Federation of Labor-Congress of Industrial Organizations.

Company and Board Performance – Awards: Vermilion is recognized for excellence in governance practices by a wide range of governance-related organizations, including the Globe and Mail Board Games report, the Canadian Coalition for Good Governance, MSCI, ISS and Brendan Wood International. For details, please see our Awards page. 

Values Matter
Vermilion Energy