All Parex business activities and operations are conducted in an ethical and transparent manner in line with our Code of Conduct and the local laws and regulations in jurisdictions where we operate. We also take into consideration the values of local customs.
Parex is committed to upholding high corporate governance standards to:
Effective management practices and internal controls are key components of the Company’s governance framework. Through its committees, the Board of Directors monitors these practices and ensures that designed systems operate properly and within legal requirements.
Our Board of Directors provide effective, independent oversight of Parex, with a focus on fostering long-term business success. In alignment with management, the Board is responsible for oversight of our day-to-day business activities and the overall strategic direction of our company.
Assessments of the Board as a whole, the committees of the Board, and individual directors are conducted on an annual basis. In addition, all directors on the Board of Parex Resources are directly elected by Shareholders each year during the annual meeting of Shareholders.
To ensure our Board of Directors fulfills its mandate, oversight of responsibilities have been delegated into four committees which include:
Managing Sustainability Our Board of Directors oversees ESG and climate matters with the support of four board committees as well as the ESG Steering Committee and Sustainability Work Group, each having specific mandates and roles to ensure that Parex is equipped to manage emerging sustainability risks and opportunities.