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Sinopec Canada Corporate Governance

The Board of Directors of Sinopec Canada is responsible for the stewardship of the company. In discharging its responsibility, the Board will exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances and will act honestly and in good faith with a view to the best interests of the company. In general terms, the Board will:

  • in consultation with the chief executive officer of Sinopec Canada, define the principal objectives of the company;
  • supervise the management of the business and affairs of the company with the goal of achieving Sinopec Canada's principal objectives as defined by the Board;
  • discharge the duties imposed on the Board by applicable laws; and
  • for the purpose of carrying out the foregoing responsibilities, take all such actions as the Board deems necessary or appropriate.

Sinopec Canada's Ethical Business Conduct

The primary standard for ethical business conduct is the "tone at the top" as expressed by both the Chairman and the Chief Executive Officer of Sinopec Canada. Sinopec Canada and the Board of Directors have adopted a Code of Business Conduct and Ethics (the "Code"). New employees, as a component of their initial orientation near the commencement of their employment, as well as each continuing employee, officer and director of Sinopec Canada are to confirm that they have read, understood and complied with the Code. Any reports of variance from the Code will be reported to the Board.

The Board has also adopted a whistleblower policy which provides employees with the ability to report directly to the Chairman of the Corporate Governance Committee, on a confidential and if the employee desires, anonymous basis, any violations within our organization including, but not limited to, questionable accounting practices, inadequate internal accounting controls, misleading or coercing auditors, disclosure of fraudulent or misleading financial information, instances of corporate fraud, falsification of financial records, unethical conduct, harassment or theft. The Board believes that providing a confidential forum for employees, officers and directors to raise concerns about ethical conduct and treating all complaints with the appropriate level of seriousness fosters a culture of ethical conduct within Sinopec Canada.