Governance of corporate responsibility issues is guided by the PBCE and our commitment to a number of international standards, including the Universal Declaration of Human Rights and the Global Compact and initiatives such as the Extractive Industries Transparency Initiative (EITI) and the Voluntary Principles on Security and Human Rights.

Talisman’s Board of Directors sees its principal role as stewardship of the Company and its fundamental objective as the creation of shareholder value, including the protection and enhancement of the value of Company assets. The Board oversees the conduct of the business and of management, which, in turn, is responsible for developing long-term strategy and conducting the Company’s day-to-day business.

The Board ensures systems are in place to manage risks and, through the President and CEO, sets the attitude and disposition of the Company toward environmental, health and safety policies, regulatory compliance and financial practices and reporting.

In 2008, the Board of Directors constituted an Health, Safety, Environment and Corporate Responsibility (HSECR) Board Committee.  This Committee reviews health, safety, environment and operational integrity (HSE/OI) policies, management systems, internal controls, regular reports, significant issues and recommend approval of the Corporate Responsibility Report to the Board of Directors.