Governance

Our approach

We believe 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 & 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 four committees: an Audit Committee, Human Resources Committee, Health, Safety & Environment Committee, and a Governance & Sustainability 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.

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 establishes Keyera’s commitment to do business ethically, legally, and in a way that is consistent with our corporate values. This Code applies to our directors, officers, employees, contractors, and consultants. Keyera also expects our business partners and suppliers to act consistently with the Code, as well as its related policies, practices, and guidelines. Oversight of the Code and associated policies lies with the Board’s Governance & Sustainability Committee. In support of the Code, we have approved business conduct policies covering various matters, including but not limited to: 

• ethics,
• human rights,
• diversity, equity, and inclusion,
• health, safety, and environment,
• Indigenous and community engagement
• disclosure,
• insider trading,
• conflicts of interest,
• anti-bribery, anti-corruption, money laundering, and facilitation payments,
• political contributions; and
• lobbying.

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.

Code of Business Conduct