Basic Policies

Information Security Policy

INPEX fully recognizes that information assets constitute important management resources, essential to conducting business. We also acknowledge that it is absolutely imperative for our people and organization to be proactive in - and committed to - maintaining a high level of security so as to protect our information assets against any potential threat, by ensuring physical and technical security measures are firmly in place.

With that in mind, we hereby establish the Policy on Information Security that provides administrative rules and guidelines for the protection and proper utilization of our information assets.

All corporate officers and employees of INPEX shall have a good understanding of the Policy and perform their share of duties to maintain information security accordingly. We shall;

  • establish a system for information security administration as well as internal rules so as to properly manage our information assets.
  • maintain the confidentiality, integrity and availability of information that we own by implementing proper security measures that have been set in place.
  • provide education in information security to all corporate officers and employees, necessary to ensure that the importance of information security is understood and exercised effectively.
  • comply with laws and regulations governing information security, and honor contracts and agreements with customers, vendors and suppliers as a credible company committed to fulfilling its social obligations and responsibilities.
  • promulgate the above-mentioned activities and arrangements to all corporate officers and employees, and shall enforce, review and improve them on an ongoing basis by carrying out the PDCA management cycle.

Health, Safety and Environmental Policy

We at INPEX CORPORATION Group believe that it is our foremost social responsibility to provide a stable and efficient supply of energy to our customers while we simultaneously contribute to the sustainable development of society. In this regard, we will promote a culture that is practiced daily in which HSE (Health, Safety and Environment) is recognized as an imperative value that forms the basis of all decision making activities. As such, we aim to protect the health and safety of all who are associated with our business activities, while minimizing any adverse impact on the environment by undertaking the following commitments. Therefore,

We will:

  • Conduct our business activities responsibly by providing HSE leadership that is characterized by credibility, action, vision, accountability, communication, collaboration, feedback and recognition.
  • Comply with all applicable laws and regulations, in all areas where we operate, and utilize our HSE Management System for all of our business activities in a consistent manner.
  • Ensure effective implementation and continuous improvement on our HSEMS through audits, reviews, incident investigations and the application of lessons learnt.
  • Provide both the management resources necessary to achieve HSE Objectives and also the necessary training so as to attain sufficient HSE competency.
  • Control HSE hazards to prevent incidents, thereby averting and minimizing any negative impacts to all, including the health, the environment and community, as we continue to maintain a social license to operate.
  • Focus on process safety and reduce associated risks to "As Low As Reasonably Practicable (ALARP)" during all phases of exploration, development, production and abandonment.
  • Verify our emergency and crisis management processes regularly to ensure a prompt and effective response to major incidents.
  • Pursue every effort to reduce Greenhouse Gas (GHG) emissions and adhere to the GHG emissions management process developed based on our business plan and growth.
  • Protect our personnel, operations and assets against malicious acts through resilient security management processes.

Through the implementation of this Policy, and by openly communicating our HSE information to our stakeholders, we seek to be recognized as a company that endeavors to continually improve HSE performance.

April 1, 2021
Takayuki Ueda
Representative Director and President
INPEX CORPORATION

INPEX Group Human Rights Policy

Approved by the Board of Directors on May 22 2017

INTRODUCTION

INPEX fuels society and drives the economy by supplying vital sources of energy. We strive to maintain respectful communications and build trust with local communities and all other stakeholders wherever we operate. As a global corporate citizen, we strive to take responsibility for what we do by prioritizing safety, conserving the environment, creating jobs, protecting human rights, respecting different cultures and customs, contributing to host communities, and maintaining high standards throughout our value chain.

Adhering to the UN Guiding Principles on Business and Human Rights, this Policy was developed to comprehensively define our firm commitment to respect human rights. We will meet our responsibility to respect human rights in line with this Policy, together with our existing policies and processes.

This Policy applies globally to all personnel of the INPEX Group.

COMMITMENTS

  1. 1.We conduct our business consistent with the spirit of the International Labor Organization (ILO) Declaration on Fundamental Principles and Rights at Work; the International Bill of Human Rights; and other applicable international human rights principles, with respect for the rights and dignity of people.
  2. 2.We treat everyone who works for INPEX fairly and without discrimination in the workplace.
  3. 3.We do not tolerate forced labor or illegal forms of child labor.
  4. 4.We respect the freedom of association and the right to organize in accordance with ILO principles.
  5. 5.We strive to provide safe, secure, and healthy working environments.
  6. 6.We expect our suppliers and business partners to respect the spirit and intent of the principles contained in this Policy. In joint ventures where we may not be able to control the decision-making process, we will exercise our influence to the maximum extent possible to encourage our joint ventures and joint venture partners to follow similar principles.
  7. 7.We recognize and respect the human rights of people in communities, including indigenous peoples, affected by our business activities.
  8. 8.We conduct our security activities as recommended in the Voluntary Principles on Security and Human Rights.

ACTIONS

  1. 1.We will conduct assessments on potential human rights impacts. We will mitigate and seek to prevent potential adverse impacts identified while engaging with those who may be directly affected or their legal representatives in an appropriate manner. We will integrate the findings of the assessments in our operations across functional groups.
  2. 2.We will foster consultations with communities and experts on potential human rights impacts.
  3. 3.Where we identify that we have caused or directly contributed to adverse human rights impacts, we will provide or cooperate in providing access to appropriate remediation through legitimate processes, including grievance mechanisms where relevant.
  4. 4.We will review the effectiveness of our responses to identified adverse human rights impacts by drawing from internal and external feedback.
  5. 5.We will comply with all applicable laws and regulations of countries where we operate. When legal frameworks are in conflict with international human rights principles, we will seek ways to respect international human rights to the greatest extent possible, without violating domestic law.
  6. 6.We will embed this Policy in our operations by raising awareness among all personnel of the Group through training.
  7. 7.We will assess and report annually on the implementation of this Policy.

INPEX Group Health Statement

With the mental and physical health of all employees at the core of the INPEX Group, we continually strengthen our health management to create a work environment which enables employees to work enthusiastically at their maximum potential. This aligns with our corporate mission to contribute to the creation of a brighter future for society through our efforts to develop, produce and deliver energy.

  1. 1.The company implements various measures to maintain and improve the physical and mental health of employees as well as their families.
  2. 2.The company aims to build a vibrant corporate culture by creating a work environment which maximizes the potential of all employees.
  3. 3.Employees should proactively maintain a physically and mentally healthy lifestyle.

April 1, 2021
Takayuki Ueda
Chief Health Officer
Representative Director and President
INPEX CORPORATION

INPEX Group Global Anti-Bribery and Anti-Corruption (ABC) Policy

Approved by the Board of Directors on April 22 2019

INTRODUCTION

INPEX Group aims to become a leading energy company serving an essential role in global society by meeting the energy needs of Japan and countries around the world. It is of utmost importance that INPEX Group, which conducts business globally complies with all applicable laws prohibiting bribery and corruption.
This Policy reflects INPEX Group's zero tolerance policy towards bribery and corruption, and prescribes the Group's basic commitments aimed at preventing all forms of bribery and corruption in relation to the conduct of its business. This Policy applies globally to all personnel of the INPEX Group.

COMMITMENTS

  1. 1.We comply with relevant countries' applicable laws and regulations on bribery and corruption (including, but not limited to, the Japan Unfair Competition Prevention Act, the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act, the Australian Commonwealth Criminal Code, and the Indonesian Law on Eradication of Criminal Acts of Corruption).
  2. 2.We do not pay, offer, promise, authorize, seek or accept any benefit, including money or anything of value, directly or indirectly, to or from public officials, government organizations, private sector companies, joint ventures, agents or individuals, in order to improperly influence a business outcome or to gain any improper business advantage.
  3. 3.We do not provide facilitation payments (small payments to expedite a routine government action) to public officials, except where permitted under applicable laws or regulations.
  4. 4.We do not use INPEX Group funds or resources to make political contributions of any kind to any public official, political party or related organization, except where permitted under applicable laws or regulations.
  5. 5.We do not give or receive gifts and entertainment to or from public officials, private sector companies or individuals, except in compliance with applicable laws and regulations on bribery and corruption, and in accordance with societal norms.
  6. 6.We do not use INPEX Group funds or resources to make social contributions, whether in the form of donations, sponsorships or social investments, in order to improperly influence a business outcome or to gain any improper business advantage.
  7. 7.We follow established hiring procedures for all candidates and all hiring decisions are based on standards and qualifications applicable to all candidates for similar roles. We also take appropriate and necessary measures when a candidate is identified as a current or former public official or as a close relative of a public official, especially where such candidate or public official is or has been in a position to influence a decision related to INPEX Group's business.
  8. 8.We conduct appropriate and necessary due diligence on potential business partners for anti-bribery and anti-corruption risk.
  9. 9.We maintain proper and accurate books and records and appropriate internal controls designed to prevent bribery and other improper expenditures.
  10. 10.We conduct regular training and socialization to ensure our personnel are aware of and understand their obligations.

Basic Policy on Corporate Governance

In order to achieve sustainable growth and increase corporate value over the medium- to long-term, INPEX fulfills its social responsibilities in cooperation with its shareholders and other stakeholders, and works to enhance its corporate governance for the purpose of conducting transparent, fair, timely and decisive decision-making.

Tax Policy

  1. 1.General Policy
    • The INPEX Group (hereinafter referred to as “we” or “our group”)'s Sustainability Principles state that guided by the leadership of top management, we are committed to fulfilling our corporate social responsibilities through compliance with laws, rules and regulations and adhere to ethical business conduct in accordance with the social norms at our international and domestic operating locations. With respect to tax affairs, the directors and employees of our group acknowledge that it is one of our important social responsibilities to contribute to the socioeconomic development of various countries and regions we operate in, through ensuring the proper payment of tax in accordance with the applicable laws and regulations and being committed to conducting our tax affairs in a transparent manner.
  2. 2.Tax Risk Management and Governance
    • Within our group operating a global business, departments in charge of tax affairs are responsible for understanding tax laws and practices within their respective countries and regions and in striving to mitigate taxation risks. The Senior Vice President of Finance & Accounting will execute operations as the person in charge of such initiatives.
    • We make effective use of our external advisors' expertise in relation to mitigating tax risks.
  3. 3.Tax Planning
    • Based on the premises outlined in this General Policy, and from the standpoint of ensuring protection of shareholder value, we strive to ensure appropriate tax payments through utilizing tax incentives to the extent that such incentives are applicable for our normal business activities or would eliminate double taxation.
    • Tax planning that does not follow the commercial drivers of the business and is intended for avoiding taxation is prohibited under this policy.
  4. 4.Relationship with Tax Authorities
    • We seek to cultivate trustful relationships with tax authorities through various means, by using available methods to obtain certainty from tax authorities such as rulings or the use of advanced pricing arrangement programs (for international transactions).

Corporate Position on Climate Change

INTRODUCTION

This paper outlines INPEX’s position and initiatives concerning the key themes listed to provide stakeholders with a better understanding of how the company is responding to the challenges of climate change.

  1. 1.Basic Management Policy Towards a Net Zero Carbon Society by 2050
  2. 2.Climate Change Goals
  3. 3.Initiatives in the 5 Net Zero Businesses*
  4. 4.Towards a Cleaner Upstream Business and Implementation of a Shift to Natural Gas
  • *1.Hydrogen/ammonia, 2.Reduce CO₂ emissions from oil & gas operations (CCUS), 3.Renewable energy, 4.Carbon recycling/new business, 5.Forest conservation

Basic Policy on Management Towards a Net Zero Carbon Society by 2050

  • INPEX will proactively engage in energy structure reforms towards the realization of a net zero carbon society by 2050 while responding to the growing energy demands of Japan and the world and fulfilling its responsibility for the development and stable supply of energy over the long term.
  • The company will set climate change response goals to achieve its own net zero carbon emissions by 2050 to contribute to the realization of the Paris Agreement objectives in relation to climate change.
  • INPEX will expand 5 net zero businesses at an accelerated pace, in order to offer solutions responding to the needs of society and become recognized as a credible key player.