As stated in TOTAL’s vision, the Company endeavors to add values to the stakeholders. One important factor in realizing the vision, is continual implementation of good corporate governance that attempts to apply a prevailing corporate culture in the Company. The understanding of GCG importance subsequently has led TOTAL to perform policies for maintaining good corporate governance, in all business activities so that the Company’s long-term targets can be continuously achieved.
By means of an active role and full endorsement from the Board of Commissioners and Directors. TOTAL ensures the practice of GCG principles are met in each business process, in line with the hierarchy, that includes:
- The implementation of roles and responsibilities of the Board of Commissioners and Directors.
- Completeness of the conduct of duties of the Committees, under the Board of Commissioners that monitor the effectiveness of GCG implementations.
- The implementation of compliance, risk management and corporate strategic plans.
- Various types of transparency of information concerning the Company’s activities and finance.
The GCG concept is enforced to create a professional, solid, good, and competitive organization. In addition to fulfilling the needs of the stakeholders The Board of Commissioners has already made important measures in regard to the implementation of GCG, including.
- The development and implementation of an orientation program for new members of the Board of Commissioners.
- The decision making process has been performed based on mechanics and procedures set forth earlier.
- Board of Commissioners has formulated an annual work plan for the Board.
- Board of Commissioners has resolved the Company’s target of performance achievement.
- Board of Commissioners has provided input during the formulation of LTCP and CBP.
- Board of Commissioners has given approval for the endorsement of LTCP and CBP presented by Board of Directors.
- Conducting joint meeting with Board of Directors in an effective manner.
The Board of Directors already performed good and proper GCG. The GCG that has been implemented by Directors, included:
- Board of Directors performed their functions and duties in implementing GCG’s development program, by the participation of relevant training.
- Structure of organization established by Board of Directors has appropriately met the Company’s needs.
- Board of Directors has made proper formulation in assigning duties and responsibilities to management in accordance with prevailing qualifications.
- Board of Directors has formulated Long Term Plan of Company (LTPC), comprising:
- Evaluation on LTPC
- Assumption and analysis in the implementation of LTPC
- Targets, policies, strategies, and work plans of the LTPC.
- Conducting joint meeting with Board of Commissioners in an effective manner.