Stakeholder Engagement

Our people, communities, investors, governments and regulators, and partners and suppliers are Vermilion’s key stakeholders: those who have the greatest impact on our business, or who are most impacted by our activities.

We base stakeholder identification and prioritization on our understanding and analysis of our value chain, with engagement that is guided by their impact and influence.102-42 ,413-1 

Our key stakeholders influence our business and operations in important ways, including capital to fund our activities, licenses for exploration and production, and expectations regarding safety and environmental performance. Meeting these expectations is the key to maintaining and growing our license to operate, and we therefore engage with these stakeholders on a regular and ongoing basis. 102-43

Our corporate external stakeholder relations framework reflects the importance of community and government support, which we manage on a business unit-specific basis. This includes Public and Government Relations staff in France, Netherlands, Ireland, Germany, and Central and Eastern Europe; a regulatory specialist in the United States; our Land department in Canada (which plays a key role in both community and Indigenous Peoples relations), and those responsible for our Safety Case and Environment Plan in Australia.

While regulations prescribe specific external stakeholder engagement, our approach is to also proactively communicate with our community and government stakeholders and Indigenous rightsholders – both individually and in venues such as town halls, open houses and visitor centres, where we provide information about our activities (planned and ongoing) and invite feedback. For example, as we evaluate and prioritize our exploration opportunities, we present activity plans, including managing the environmental and social impact of our activities, to partners, government and regulatory authorities, and public and community stakeholders.

For stakeholders with lesser degrees of impact or influence, our engagement is more specific and generally involves direct issue-related communication.

The following table details how we engage with our stakeholders, topics raised, and how we have responded. 102-40,102-42,102-43,102-44

Current & Potential Investors
Engagement Channels
Topics Related
Annual General Meeting and webcast, distribution of annual report & proxy statement and quarterly reports
Financial results
Ongoing communication of material issues and results
Annual benchmarking against peers through Globe and Mail Board Games
Increasing emphasis on climate-related strategy and reporting, along with evolving regulatory approaches to sustainability reporting
CDP Climate Change and Water Security Responses
Business updates, analyst conference calls
Reporting recommendations from TCFD, SASB (IFRS), ISSB and EU
Sustainability reporting evolution
Ongoing presentations to investor and industry conferences, with webcasts posted on external Vermilion website and intranet
Response to requests for interviews and other input
Ongoing monitoring of and response to investor relations e-mail and phone inquiries
Reviews of evaluations by ESG rating agencies, including corrections, responses and engagement
Ongoing monitoring of and response to social media including LinkedIn
Input into business strategy
Media monitoring/ media appearances
News releases
Engagement on sustainability-related queries from ESG investment agencies, potential investors and current shareholders
Feedback for TCFD and SASB proposed changes, directly and via industry groups
Partners & Suppliers
Engagement Channels
Topics Related
HSE Pre-qualification screening and auditing of operations to ensure compliance
HSE performance
Development of HSE High Five personal safety initiative
Safety meetings, including both Vermilion staff and our contractors and partners
Access to opportunities
Focus on operational excellence
Contractor briefings from Vermilion staff on expected standards of behavior, including our Code of Business Conduct and our Anti-Discrimination and Harassment Policy
Production and financial results
RFPs and invitations to bid
Meetings, etc. to review requirements and negotiate contracts, as needed
Daily operations, including inspections and field audits
Meetings, phone calls, e-mails as issues or concerns arise
Engagement Channels
Topics Related
Great Place to Work® program confidential staff survey, communication of results to staff through e-mails and meetings, ongoing engagement of staff in feedback and improvement action planning meetings from department to team levels
Strategic direction of the company
Executive Committee response to town hall suggestions and questions
Global town halls, with executive question-and-answer sessions based on questions submitted anonymously in advance, or during the meeting
Employee engagement and satisfaction
Implementation of suggestions from staff working groups
Additional confidential staff surveys on topics such as HSE (Perception Survey), compensation and strategic community investment (choices of non-profit partners, activities, etc.)
Communication (internal and external) of strategic community investment program
Implementation of Fair Culture Policy in all business units
Additional town halls in each of our business units with leadership question-and-answer sessions
Clear communication and implementation of HSE program
Annual workplan within VET Vision, with strategy to 2030
Extensive annual lunch and learn program with company, industry and wellness topics
Whistleblower policy, 24/7 (referred to internally as “Reporting of Inappropriate Activity”)
Company-wide working groups established to refresh our strategic plan
Engagement Channels
Topics Related
Stakeholder engagement programs, including proactive communications (letters, town halls, open houses, visitor centres, surveys, etc. ) to provide information and gather feedback
Community support and capacity building
Progressing community investment program in all locations based on community and staff engagement (see Our Communities in this report) and guided by the concept of Creating Shared Value
Meetings, phone calls, e-mails with landowners, as needed
Public safety
Discussions with local communities regarding impacts and potential partnerships
Contract negotiation with landowners, as needed
Environmental stewardship
Increased engagement with Indigenous Peoples communities, including business opportunities and community investment
Ongoing partnerships with key social agencies
Online community investment applications to streamline process for community groups
Meetings, e-mail, phone calls with other local social agencies & councils, ongoing
Customized community investment program for each location, ongoing
Communication of community investment via external website & LinkedIn, ongoing
Engagement with Indigenous Peoples communities as rightsholders, including provision for consultation, free, prior and informed consent, business opportunities and community investment OG-9, DMA Social
Governments & Regulators
Engagement Channels
Topics Related
Regulatory requirements in all of our locations
Compliance with or exceeding all regulatory requirements
Meetings, phone calls, conferences with government officials
Technical expertise
Audits and inspections to confirm compliance
Government-Industry working groups
Economic and community development
Proactive community investment and sustainability programs
Alignment of sustainability strategy with SDGs
NGOs: Industry, Environment, Social
Engagement Channels
Topics Related
Ongoing participation in industry meetings and conferences
Increasing transparency and communication of sustainability performance
Annual CDP submission and engagement
High-level review of NGO positions and topics
Environmental concerns and performance based on location, location (see our Environment section)
Alignment of sustainability strategy with UN SDGs
Meetings with NGO representatives
Active engagement with ESG rating agencies, including CDP, MSCI, Vigeo-Eiris, ISS and S&P Global
Focus on operational excellence, including compliance with or exceeding all regulations
Use of feedback in developing internal environmental and social programs

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