Our Community and Social Impact
S.V. OIL works on reducing the negative impacts and maximize the benefits from our presence by reinforcing our engagement with local communities, thus creating opportunities for society. Our policies, standards and procedures in the area of corporate social responsibility are based on the Performance Standards of the International Finance Corporation (IFC). Although our social performance extends to all the community stakeholders in the area of our presence. Every year S.V. OIL plans and executes a social performance scheme aimed at helping developmental priorities of local communities while considering of the communities’ interests and addressing possible social risks.
It is worth noting that S.V. OIL endeavors to improve the livelihoods of the communities we work in. We do this by complementing the efforts made by the local authorities. The proposals for community development projects are raised by the local communities themselves. This is done through the village councils which S.V. OIL then assess for viability. All in all, consultation is a fundamental pillar of S.V. OIL's activities in the social performance sphere. These consultations are done with village councils, local authorities, NGOs and other stakeholders.