Sustainable project funding
Cairn’s business model is to create, add and realise value from a balanced portfolio, with material upside potential from exploration and appraisal activity, supported by established development and production assets and a strong balance sheet.
We believe that Corporate Responsibility (CR) performance is integral to promoting cost-effective operational performance and managing societal and reputational risks that may impact on our licence to operate and our ability to access funding for future projects.
Cairn’s exploration inventory is underpinned and balanced by development assets in the UK and Norway, the free cash flow from which will be used in part to fund future exploration programmes. Many of these assets are non-operated ventures. Our emphasis is on the safe delivery of these projects within budget and schedule, and this is reflected in the standards governing our core business processes set out in the new Cairn Operating Standards Manual and our CRMS.
It is important to Cairn that our operations and those of our partners are robust and carried out responsibly. We have sought to demonstrate our commitment through:
- upholding and supporting the 10 principles of the Global Compact;
- seeking to apply the International Finance Corporation (IFC) Environmental and Social Performance Standards;
- participating in the Extractive Industries Transparency Initiative; and
- applying a robust CR Management System.