TCO also budgets approximately $1 million annually for an additional voluntary Community Investment Program (CIP). TCO has recently updated the CIP to more closely align with the needs and goals of our community and business.
TCO established an internal Community Investment Council (CIC) comprised of individuals from various departments to direct TCO's discretionary Community Investment Program budget. The TCO CIC has created a strategic framework that moves TCO's community investment from charitable giving to proactive programs that support the socio-economic goals and needs of both TCO and Atyrau Oblast. TCO seeks to create a direct relationship between community investments and TCO's operations, moving from local tactical investments to community investment as a core business strategy. This requires subjecting community investments to the same scrutiny as other business investments, such as monitoring and evaluation.
A recently completed social baseline was presented and drawn upon to revise, refine and create a framework that was locally relevant. It identified the following community needs and priorities around education and training; water supply and quality; environmental quality and misunderstanding; and quality of health care.
TCO's CIP Strategy
Considering the results of the social baseline, the CIC created a strategic framework that linked TCO business objectives and TCO socio-economic objectives, while at the same time being solidly grounded in community needs and priorities. TCO developed the following vision and focus areas.
The vision for TCO community investment is to:
- Add value to the business and community in an ethically and socially responsible way.
- Build human, societal and organizational capacity to sustain a thriving local economy and society without dependence on TCO.
Tengizchevroil Community Investment Focus Areas:
- Building capacity in people or organizations to benefit TCO and community
- Education, training and socioeconomic development
- Health education and quality improvement
- Environmental education and improvement
- Basic human needs, specifically solutions to water challenges
- Cultural preservation and awareness, specifically further the Kazakh language.