Corporate Responsibility
Lydian has a strong culture of corporate responsibility and adheres to World Bank standards in all aspects of corporate governance, environment, social responsibility and development of human resource capital through training. The Company is subject under agreement to regular audits by officers of the IFC (representing the World Bank). The Company employs two full time environmental and social officers and a Health-Environment-Social and Community specialist who acts as intermediary between the company and the IFC. The Company is also a signature to the World Bank’s list of Sanctionable Practices. Lydian conducts thorough environmental monitoring and baseline studies at all of its sites, abides by its public disclosure policy and works solely or with international NGO’s on various sustainable community projects in Armenia. As well as being a significant local employer in the regions where it operates, the Company also provides technical and managerial training for most of its full time employees.
Lydian’s future is dependent on our ability to find and develop projects that also fit with our commitment to social responsibility. Sustainable development, protection of human life and health, the environment, and adding value to the communities in which we operate are all paramount to our corporate social responsibility.
To realize these commitments, every Lydian operation follows these guidelines:
- Develop and use systems to identify and manage risks, and provide accurate information to support effective decision making;
- Train employees and provide the resources to meet our social responsibility objectives and targets;
- Respect the Universal Declaration of Human Rights in its business operations;
- Respect the social, economic and cultural rights of indigenous people;
- Adopt policies and standards and operating practices that ensure ongoing improvement;
- Wherever appropriate and feasible, set operating standards that exceed the requirements of the local law;
- Assess our performance against our policies and standards set to international guidelines.
- Promote leadership in social responsibility from all our employees;
- Seek to share our success by partnering with stakeholders in appropriate community development programs;
- Consult stakeholders in all matters that affect them;
- Strive to communicate our performance in an accurate, transparent and timely manner