Talisman prepares report on FPIC

Date of publication: 
21 April 2009


Bâtirente and Regroupement pour la responsabilité sociale et l’équité (RRSE) announced today that they have reached an agreement with Talisman Energy Inc. on an important corporate responsibility initiative. Talisman will conduct research and develop a report that will define and assess the benefits of adopting and implementing policies and procedures for securing and maintaining free, prior, and informed consent (FPIC) of Indigenous communities impacted by Talisman’s operations.

The report will focus on the concept of FPIC as it pertains to corporations engaging with indigenous communities in the various parts of the world where Talisman operates. The report will also examine current best practices in this area. This report will be prepared by Mr. Gare Smith, a partner with business law firm Foley Hoag LLP and corporate social responsibility expert. The report will also be reviewed by the World Resources Institute, an environmental think tank that has published two reports on how FPIC can be implemented by extractive companies. This report will be available to shareholders and the public before Talisman’s annual shareholder meeting in 2010.
he decision to prepare this report follows discussions held between Quebec-based Bâtirente and RRSE, whose members hold shares of Talisman Energy. “By investigating the notion of FPIC and its implementation, Talisman is taking an important step in developing its community relations approach”, stated François Meloche, Extra Financial Risk Manager with Bâtirente.

“We hope that this report will allow Talisman to lead the industry by demonstrating that FPIC can make business sense and be a key part of good community relations”, commented Philippe Bélanger, analyst with RRSE.

“We are pleased to have the opportunity to work with Batirente and RRSE on this research project” said Reg Manhas, Vice President Corporate Responsibility and Government Affairs at Talisman Energy. “We will use the FPIC report to assess our international community relations policies and procedures and to improve our engagement approach in future projects.”

Bâtirente is a non-profit organization created by the Confederation of National Trade Unions (CNTU/CSN), a 300,000 members Quebec labour organization, to set up and promote workplace retirement plans and investment funds.
RRSE is a network of religious communities, NGOs, private foundations and individuals which aims to promote corporate social responsibility using shareholder engagement.