Values Matter
Sustainability Report
Since our founding more than 20 years ago, Vermilion has been guided by our core values of Excellence, Trust, Respect and Responsibility. We believe that producing energy for the many people and businesses that rely upon it to meet their daily needs and sustain their quality of life is both a great privilege and a great responsibility.
Excellence. Trust. Respect. Responsibility. These four core values guide what we do and how we do it.
Our strong culture is the single most important factor in our long-term success.
Vermilion’s highest priority is conducting our business in a way that ensures the health and safety of our people and those involved directly or indirectly in our operations.
Vermilion focuses on a shared value approach to strategically investing in our communities. This is embodied in our company mission statement: to deliver superior rewards to investors, employees, partners and the communities in which we operate.
Since our founding more than 20 years ago, Vermilion has been guided by our core values of Excellence, Trust, Respect and Responsibility. We believe that producing energy for the many people and businesses that rely upon it to meet their daily needs and sustain their quality of life is both a great privilege and a great responsibility.
Excellence. Trust. Respect. Responsibility. These four core values guide what we do and how we do it.
Our strong culture is the single most important factor in our long-term success.
Vermilion’s highest priority is conducting our business in a way that ensures the health and safety of our people and those involved directly or indirectly in our operations.
Vermilion focuses on a shared value approach to strategically investing in our communities. This is embodied in our company mission statement: to deliver superior rewards to investors, employees, partners and the communities in which we operate.
The issues identified for this report have been cross-referenced to the GRI G4 Aspects and Standard Disclosures list. A Boundary Assessment for each Aspect was performed and it was determined that the outcomes of the original assessment for each Aspect had not changed as to its relevance to Vermilion or any of the stakeholders throughout our value chain. G4-20 G4-21
Where the issues were relevant to Vermilion or its stakeholders, we reevaluated whether they were of high, medium or low impact on Vermilion, and high, medium or low impact from the perspective of our key stakeholder groups. As a result, we have adjusted our materiality matrix, reflecting an increased importance of regulatory frameworks and community support, for example, and an increasing focus on water management, biodiversity and supply chain risk.
We wish to continue to emphasize that materiality in the context of this report is not a judgment on societal importance. For example, the issues surrounding the use of child labour are of significant concern; however, their impact on Vermilion and our stakeholders is considered low as a result of our operations being located in countries with robust laws and enforcement around these issues. While unlikely, were Vermilion were to extend its operations into a geographical region where child labour was at higher risk to occur within our supply chain, we would assess this as having a higher potential impact.
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We used a similar approach to assessing potential impact of these issues on stakeholders. We analyzed our engagement results with different groups of stakeholders, to identify issues and rate their importance reflecting the critical/high, important/medium, and small/low definitions from the table above. We also took into consideration how directly affected the stakeholders were (for example, employees and fenceline communities are more directly affected by Vermilion's operations than NGOs). We then integrated those results to identify where issues had a common impact or concern spanning several key stakeholder groups. G4-18 G4-19
The resulting summary of all GRI Aspects is contained in our full GRI Materiality Analysis, which you can find in our additional information.G4-19 G4-20 G4-21
