The results of our dialogues are documented in a detailed report, updated each quarter. Quarterly reports facilitate communication with beneficiaries and other stakeholders, as well as PRI assessment exercises.
Shareholder engagement produces tangible outcomes. In addition to the specific and contextual information reported by our team, this commitment favours the evolution of the companies’ practices.
At the time of our dialogue, Talisman was a Canadian company specialized in oil exploration and extraction, operating notably in Peru. Back then, Talisman’s activities aroused criticism from Peruvian communities that were opposed oil development in their region.
The dialogue initiated in 2008 by Æquo’s co-founders, initially aimed at encouraging Talisman to develop a policy of free, prior and informed consent (FPIC) to frame its relations with communities and indigenous peoples. The concept of FPIC, a principle increasingly recognized in international law, frames and protects the indigenous peoples’ right to participate in negotiation processes and decision on projects that may affect their lands and resources.
In 2009, a shareholder proposal to consider the development of an FPIC policy was filed. The dialogue then continued until 2015, year in which the company was acquired by Repsol, a Spanish company.
The dialogue led Talisman’s Board of directors to adopt in 2010 a community relations policy recognizing the general principles of FPIC.
The company signed agreements with the communities living on its concessions and held regular meetings with leaders of indigenous federations of these communities.
Overall, our engagement with Talisman contributed to encouraging the company in its efforts to reducing the environmental impact of its activities and supporting local communities.
INITIATIVES TO REDUCE ITS ENVIRONMENTAL
Measures taken to limit the erosion of riverbanks when transporting equipment
Restoration of sites following mining operations
Aboriginal monitoring program including a complaint mechanism and a community presence on sites to monitor the environmental performance.
SUPPORT LOCAL COMMUNITIES
Funding of health, education and electrification projects
Development of a regional social development roadmap, enabling local communities to articulate their voice before the government.