Structure
STRUCTURE
The following are key functional areas required to run and support the business:
We have a Business Conduct and Ethics Code (the “Code”) that outlines the standards by which we can conduct our business affairs honestly, ethically, and with respect for one another.
- Corporate Culture
- Business Conduct and Ethics Code
- Quality control of produced products
- Process productions and divisions
Company Strategy
The Development Strategy of LLC ZHASOIL TRADE for 2022–2031 was approved by the Board of Directors of the Company in November 2021. The strategy takes into account how the portfolio of LLC ZHASOIL TRADE assets has changed as a result of expanding the petrochemical industry and LLC ZHASOIL TRADE’ separation into a separate national company as part of LLC ZHASOIL TRADE, as well as the global trend toward the switch to clean energy sources and the tightening of carbon regulations.
The Company is aware of the importance of its impact on the economy, ecology and society, and will continue to integrate the principles of sustainable development into the Company’s key business processes in order to ensure consistency of economic, environmental and social priorities, as well as corporate governance objectives. For the next ten years, the Company’s growth will be ensured by increasing the resource base, the efficiency of current production, the development of new processing, the introduction of modern technologies and the reduction of the carbon footprint.
Corporate Governance
Compared to 60.9 percent in 2020, 60.8 percent of businesses in 2019 met the requirements for best available practices as outlined by international standards. One shareholder has decided on a plan in which shareholders, the Board of Directors, and the Centralized Internal Audit Service are all participating. Corporate governance is one of the most crucial factors in determining how competitive a firm is.
It is impossible for the Company to develop without an effective structure in place to govern the interactions between the Board of Directors, the executive board, and the shareholders, as well as without investors’ confidence that the management of the Company uses their funds wisely to achieve capitalization growth.Since its approval, annual diagnostics have been performed on Birlik-Energo’ corporate governance to make sure it complies with best practices. The diagnostics point out flaws in the governance structure and offer suggestions for raising the standard of governance in the company.
Human Resource
The HR department is responsible for the formulation of personnel policies and procedures, manpower planning and staffing, compensation and rewards strategy, management of medical and welfare benefits, performance management, employment law compliance, facilitation of optimum working relationship with employees including the staff union, training, career and organisational development, employee communications as well as Office General Services.
Collective agreements are signed in LLC ZHASOIL TRADE organizations with the goal of enhancing the social wellbeing of every employee of the company, enhancing employer and employee accountability for the outcomes of economic and production activities, and achieving the ideal balance of parties’ interests within the context of social partnership. The group of companies has a standard collective agreement that has been approved by both the employer and the government of the Republic of Kazakhstan. It outlines the terms and common mechanisms for organizing labor compensation, working hours and breaks, occupational safety and health, employment of terminated employees, and social support.
