We believe that good governance plays an important role in building stakeholder confidence and achieving our business objectives. We have developed a mandate for our Board of Directors and terms of reference for each Committee of the Board that reflect this belief. We are committed to adopting and engaging in governance practices that are effective, responsive to the needs of our stakeholders and which emphasize substance over form.
Roles and responsibilities
The Board of Directors of Keyera is directly elected by the Shareholders of Keyera each year at the annual meeting of Shareholders. The Board is responsible for providing effective, independent supervision of Keyera and its affiliates. An integral part of fulfilling this responsibility is the development of and adherence to sound governance practices.
In carrying out its mandate, the Board of Directors has established three committees: an Audit Committee, a Compensation and Governance Committee and a Health, Safety and Environment Committee. Each of these Committees assist the Board in overseeing aspects of Keyera's activities within their respective areas of expertise.
Overall, the Board and its Committees work together closely to advance the interests of Keyera, its affiliates and its Shareholders, in a way that integrates and respects the collective interests of employees, customers, suppliers and the communities in which we operate and the general public, and to promote the long-term goals of Keyera to grow value responsibly and in a sustainable manner.
Keyera has a proud history of strong corporate governance. We believe this commitment is critical to remaining resilient and aligned with stakeholder interests over the long-term."
We are committed to conducting business ethically, legally, and with integrity and honesty. Our reputation is founded on the relationships we have built with our stakeholders, including suppliers, customers, shareholders, competitors, regulators, and the public. We are committed to treating people fairly, respecting diversity, accepting accountability and communicating openly.
We build value by meeting high standards of professional conduct, and when challenges arise, we act in a way that is consistent with our core values in an effort to resolve issues in a respectful manner.
Directors, officers, employees, contractors and consultants are expected not only to comply with all applicable laws and regulations, but also to avoid situations where their personal interests could conflict, or appear to conflict, with their duties and responsibilities to us and our affiliates.
The Board of Directors has adopted a Code of Business Conduct which applies to our all directors, officers, employees and contractors. Oversight of the Code and associated policies lies with the Board’s Compensation and Governance Committee. In support of the Code, we have approved business conduct policies covering various matters, including but not limited to:
- insider trading,
- conflicts of interest,
- anti-bribery and facilitation payments,
- political contributions; and
These policies are intended to reinforce our commitment to operating with integrity and in accordance with applicable laws. They describe our values, principles and standards that guide our decision making. Detailed definitions and guidance can be found in the full internal policies and we have adopted a number of specific procedures and guidelines to facilitate compliance with the Code and policies. Where local laws impose a lower standard than our policies, we comply with our higher standards. A review of these policies is part of every new hire orientation. Directors, officers, employees and contingent workers are expected to review and agree to these policies and we conduct an annual re-certification. Our Code is also shared with all of our suppliers.
Access our whistleblower hotline, independently operated by the forensic accounting and investigative services practice of Grant Thornton LLP, to report any concerns to a neutral third party on a confidential basis for investigation. Quarterly reports from the whistleblower hotline are provided to Keyera’s Audit Committee.
Phone: 1-855-484-CARE (2273)
Email: [email protected]
Extractive Sector Transparency Measures Act (ESTMA)
Meeting Reporting Expectations: The vast majority of Keyera’s business involves midstream activities which are not covered by ESTMA. However, we do engage in oil and gas production as a result of our ownership of reserves associated with some of our facilities in Alberta. While our oil and gas extraction activities make up only a small portion of our business, we will be filing annual ESTMA reports reflecting applicable governmental payments associated with these activities before the end of May (150 days from our December 31 financial year-end).
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