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Ovintiv’s Board of Directors (Board) plays a fundamental role in the leadership of our company’s strategy and ensures that principled and ethical corporate conduct is observed through the implementation of appropriate governance and internal controls. Ovintiv’s board committees play a key role in risk oversight and are responsible for ensuring proper management of environment, health and safety, human resources, reserves, accounting and corporate responsibility matters. The Corporate Responsibility, Environment, Health and Safety Committee (CREHS) is a committee of the Board that is responsible for oversight of sustainability and ESG-related issues and ensuring an overall corporate responsibility program is in place and applied. The CREHS Committee also reviews and makes recommendations on Ovintiv policies, standards and practices regarding sustainability. Sustainability and ESG-related issues and risks are evaluated by the Board, including those relative to our internal corporate risk report. The Board also engages directly with external stakeholders on topics relevant to ESG-related issues, including those relative to company strategy.
The effectiveness of Ovintiv’s management is enhanced by the diverse perspectives, skills and experience of our Board members. Ovintiv considers diversity of skills and expertise when identifying qualified candidates for board positions and leadership opportunities. This is reflected in our long history with a diverse board membership and executive leadership team, as well as our succession and leadership development process. Board member skills and expertise are highlighted below.
All employees are required to commit to the Code of Conduct on an annual basis, acknowledging their understanding of and compliance with its key policies. Such measures are designed to ensure our workforce is always working in compliance with all
Ovintiv policies and practices. Employees are encouraged to report any suspected illegal or unethical behavior through Ovintiv’s Integrity Hotline, which directs reports of improper conduct for investigation and appropriate resolution.
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To align the company with its overall yearly targets and metrics, Ovintiv offers all employees the opportunity to participate in our annual bonus program and earn a cash award. Eligibility is based on a combination of financial and operational performance results measured against company metrics, as well as employee performance measured against individual objectives for the year.
To communicate overall company key metrics and targets, we create a company scorecard to reflect the company-wide goals for the year and how they will be measured. Throughout the year, we track our progress and provide a total performance company score for year-end. Ovintiv’s company scorecard includes a safety modifier that reinforces our commitment to achieving
our company metrics safely. Our company scorecard’s safety modifier enables the Board to adjust our overall score to reflect the strength or weakness of our safety performance. In 2018, a safety modifier of 20% was applied after the Board determined that achieving the “safest year ever” for the fifth consecutive year justified an increase to our company score.