Corporate Social Responsibility & Environment Social Governance
AKITA Drilling is committed to the highest ethical standards and to managing the social, environmental and economic effects of its drilling operations in a responsible manner. AKITA recognizes that the drilling services it provides have potential to impact many stakeholders and operates accordingly:
- by implementing rigorous world class environmental operating procedures to protect the environment,
- adhering to industry leading safety programs to protect its employees,
- committing to an internationally recognized quality management – quality control system for optimal performance for its customers, and
- ensuring certain First Nation, Metis and Inuit people living proximate to the areas where AKITA operates see direct economic benefit through joint venture agreements.
Environment and Climate Change Policy
In recent years growing attention has been placed on carbon emissions and climate change. The importance of operating in an environmentally sustainable manner is a well-recognized aim of AKITA. Consequently, the Corporation has committed to operating in ways that reduce its impact on the environment and reduce greenhouse gas emissions. AKITA has implemented numerous environmental initiatives designed to reduce its impact on the environment and to reduce greenhouse gas emissions, including:
- reducing its environmental footprint through utilization of pad rigs designed to maximize drilling performance by drilling multi-lateral wells from a single environmental footprint,
- using bi-fuel, natural gas or high-line electrification to power its rigs in order to reduce overall diesel fuel consumption and reduce greenhouse gas emissions,
- utilizing spill prevention technology to reduce or eliminate the adverse environmental effect of spills,
- implementing noise suppression technology or barriers to mitigate noise pollution in populated areas, and
- designing our rigs to move in fewer truckloads when moving, thereby reducing traffic congestion and greenhouse gas emissions.
Each quarter the Corporation completes an Environmental Stewardship Report which identifies any environmental issues which may have arisen and confirms whether the Corporation acted in compliance with its internal environmental regulations and with all applicable environmental laws and regulations.
AKITA prides itself on being a good corporate citizen and is especially proud of the relationships the Corporation has forged with First Nation, Metis and Inuit people over the last twenty-five years to ensure these groups benefit from resource development occurring near their traditional territories. AKITA is a long-time proud supporter of the Shock Trauma Air Rescue Services Foundation, commonly known as the STARS Foundation, and is a supporter of Calgary’s Children’s Hospital among other local and provincial charities. Integrity, respect and commitment are AKITA’s core values which are demanded of management and employees when conducting business.
As instilled in the Corporation by its founder, all directors, management and employees must demonstrate strong ethical behavior in all their respective decision making and business interactions. AKITA is governed by an experienced and dedicated board of directors (the “Board”) who diligently provide guidance and oversight to the management team and who review, approve and monitor the Corporation’s corporate strategy. The Board is comprised of a majority of independent directors and the Board has separated the positions of Chair of the Board and President and Chief Executive Officer. The experience of individual Board members, their contributions, participation and attendance are reviewed on an annual basis by AKITA’s Governance, Compensation and Nomination Committee (“GOCOM Committee”) to ensure the Board’s composition provides an effective balance of experience, skills and diversity in order to provide the best oversight over the Corporation. The Board nominates and maintains an Audit Committee, GOCOM Committee, Pension Committee, Disclosure Committee and Risk Management Committee, each of which regularly reports to the Board of Directors. The purpose of the Board’s committees is to assist the Board in performing the Board’s legal and fiduciary responsibilities.
The Corporation has approved a number of policies and practices to facilitate effective governance, including the Board and Committee Mandates, the articles and bylaws, and the Code of Conduct as set out below.
In addition to the attachments set out below, the Corporation has instituted an insider trading policy, an anti-bribery and anti-corruption policy, a communication policy, a whistle-blower policy, a majority voting policy, a workplace violence and discrimination policy, and a prohibition against insiders hedging equity-based compensation or other securities. All of the aforementioned policies were designed to facilitate a strong corporate governance program.