Hess Corporation Corporate Policies

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CORPORATE POLICIES
The following are formal Hess Corporation policies that provide our employees with guidance and Company-wide expectations regarding environment, health, safety and social responsibility:

Environment, Health & Safety Policy

Hess Corporation and its subsidiaries recognize that excellence in Environment, Health & Safety performance is an essential part of our goal of becoming the leading global independent energy company. To accomplish this, we will:

Identify, assess and manage the environment, health & safety risks and impacts of our existing and planned operations.
Set objectives and targets that result in continuous improvement of our environment, health & safety performance.
Provide the leadership and resources that will enable our workforce to meet improvement objectives and targets.
Require every employee to take personal responsibility towards meeting environment, health & safety objectives.
Include environment, health & safety performance when evaluating managers, employees and contractors for compensation, rewards, and recognition.
Comply with applicable environment, health & safety laws and regulations.
Recognize that no task is so important that it be performed at the risk of health and safety.
Provide internal standards for our managers and employees where controlling laws and regulations do not exist or are considered insufficient.
Communicate regularly with the communities where we operate to develop and maintain a mutual understanding of goals and expectations.
Promote the conservation of energy and natural resources and reduce waste.
Routinely monitor, assess and report on the Company's environment, health & safety performance and on our conformity with this policy.

Corporate Social Responsibility Policy

Hess Corporation and its subsidiaries conduct business consistent with our long established values which encompass product quality, service to our customers and making positive contributions to the communities where we do business. Corporate social responsibility is an extension of the way we have done, and will continue to do, our business. We reaffirm our commitment and will:

Maintain the highest standards of business and personal integrity as detailed in our Code of Business Conduct and Ethics.
Respect the law in the countries and communities where we operate and accept and uphold the principles contained in the United Nations Universal Declaration of Human Rights.
Maintain our commitment to an equal employment opportunity workforce and encourage diversity.
Build cooperative relationships with our customers, suppliers, host governments, other companies and communities concerning these issues.
Identify and understand the potential social and cultural impacts of our operations in new areas prior to making major investments.
Identify and assess our contribution to social and cultural changes in the areas where we operate and develop appropriate strategies to respect the rights and cultures of local communities.
Routinely monitor, assess and report on our conformity with this policy.

VOLUNTARY INITIATIVES

Hess Corporation supports several international voluntary initiatives designed to protect the environment and promote universal human rights. These include:

United Nations Universal Declaration of Human Rights

Comprised of 30 articles covering fundamental freedoms ranging from the right to nationality to the right to equality before the law, the UNIVERSAL DECLARATION OF HUMAN RIGHTS was established in 1948 by the UN General Assembly. It serves as the international standard and codification of human rights norms and has been signed by 148 countries.

United Nations Global Compact

The UN GLOBAL COMPACT is a voluntary initiative that seeks to provide a global framework to promote sustainable growth and good citizenship through adherence to 10 principles encompassing environment, human rights and anti-corruption.

Voluntary Principles on Security and Human Rights

The VOLUNTARY PRINCIPLES ON SECURITY AND HUMAN RIGHTS is a voluntary guide for companies to assure the safety and security of their operations while respecting human rights and fundamental freedoms. Voluntary Principles participants include the Governments of the United States, the United Kingdom, the Netherlands and Norway, companies in the extractive and energy sectors ("Companies"), and non-governmental organizations ("NGOs"). The participants recognize the importance of the promotion and protection of human rights throughout the world and the constructive role business and civil society -- including non-governmental organizations, labor/trade unions, and local communities -- can play in advancing these goals.

Extractive Industries Transparency Initiative

3.5 billion people live in countries rich in oil, gas and minerals. With good governance the exploitation of these resources can generate large revenues to foster growth and reduce poverty. However when governance is weak, it may result in poverty, corruption, and conflict. The EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE (EITI) aims to strengthen governance by improving transparency and accountability in the extractives sector. The EITI sets a global standard for companies to publish what they pay and for governments to disclose what they receive.