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Values Matter
2016 Sustainability Report
Values Matter
2016 Sustainability Report
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2016

Our Approach to Sustainability

Our Sustainability Vision

As a responsible oil and gas producer, Vermilion Energy Inc. consistently delivers long-term shareholder value by operating in an economically, environmentally and socially sustainable manner that is recognized as a model in our industry.

Our approach to sustainability, and our business in general, remains one where we prioritize people and the environment over profitability: the safety and health of our employees, contractors and those directly or indirectly involved in our operations is placed above all else. G4-2

Vermilion’s third annual sustainability report is our way of communicating how we identify the economic, environmental and social impacts of our operations, and how we integrate their associated opportunities and risks into our business strategies. We are still in the early stages of our sustainability reporting journey, but over time, our reporting activities will be able to help us chart our progress towards realizing our sustainability vision:

As a responsible oil and gas producer, Vermilion Energy Inc. consistently delivers long-term shareholder value by operating in an economically, environmentally and socially sustainable manner that is recognized as a model in our industry.

We understand our moral and legal duty to operate in a manner that protects the health and safety of our people and communities, provides responsible stewardship over the environment, and treats our people, partners and suppliers respectfully and fairly.

From the landowners with whom we share the landscape, to the families and businesses that rely on oil and gas to fuel their daily needs, our exploration and production activities have potential effects on a wide range of stakeholders who expect Vermilion to deliver consistently strong financial results in a responsible and ethical way.

These expectations align economic success with every element of our sustainability commitments, and have led us to prioritize our objectives in the following order:


1
The safety and health of our staff and those involved directly or indirectly in our operations. Nothing is more important.
 
2
Our responsibility to protect the environment. We follow the Precautionary Principle G4-14 introduced in 1992 by the United Nations "Rio Declaration on Environment and Development" G4-15 by using environmental risk as part of our development decision criteria, and by continually seeking improved environmental performance in our operations.
 
3
Economic success through a focus on operational excellence across our business, which includes technical and process excellence, efficiency, expertise and stakeholder relations.
 

We believe these three priorities generally do not conflict with each other, because business that is conducted in the safest and cleanest manner is also most likely to be the most profitable way to do business over the long term. In instances where these three priorities may be in conflict, we instruct our staff that the health and safety of people and the protection of the environment must always take priority over profitability.

Our Board of Directors and our Executive and Leadership teams continue to recognize our stakeholders' expectations as critical to Vermilion's success and integrate them into our ongoing processes for governance, strategy and performance. They are incorporated as goals into our strategic long-term vision, identified as commitments for annual planning, and assessed on a quarterly basis for progress against those commitments.

We believe this approach continues to be a contributing reason why Vermilion is a leading choice for investors, employees, partners and communities.

Values Matter
Vermilion Energy