We strive to maintain the highest standards of professionalism, integrity, accountability and humility. These standards go beyond simple legal compliance, laying the foundation for all decisions we make and our interactions with stakeholders.
We are committed to being a good corporate citizen and taking an active role within our community. Beyond providing energy security, we believe that our activities should not only satisfy the needs of our customers alone but also enrich the fabric of the communities that are a part of our stakeholder environment.
We have implemented internal control measures in all our trading and financial operations. This includes the establishment of trading mandates and management reporting systems to monitor and highlight risk exposures and mark-to-market profitability. Financial controls include proper segregation of duties and a tiered system of authorizations for contracts, payments and any mandate deviations. Robust risk management measures are also in place to manage and mitigate commodity price liquidity, credit and foreign currency translation risk in a timely manner.
We apply a rigorous credit approval process. Our counterparty registration procedures include close scrutiny of our counterparty's market reputation, bank references and financial statements among others, where we then derive an in-house credit rating. The businesses executed with counterparties are then subjected to conditions consistent with their credit rating. Our stringent credit measures provide assurance to both our banks and other counterparties.
Kairos is committed to reducing and minimizing the environmental impact of our operations, and to change with the oil industry as it embraces cleaner energy and more sustainable energy sources.