Paramount has in place an Environmental Committee composed of three non-management directors of the Company. The tenet of this Committee's environmental policy is to protect the environment, maintain public health and safety, and comply with all applicable environmental laws, regulations and standards.
The principles that guide the maintenance of this policy apply to all employees of Paramount. The Company monitors all activities and makes reasonable efforts to ensure that companies who provide services to Paramount will operate in a manner consistent with its environmental policy.
In recognition of its environmental and safety policies and to demonstrate continued improvement in its performance, Paramount has been awarded the Canadian Association of Petroleum Producers' Gold Level Certificate for Stewardship participation, the Silver Champion Level Reporter Recognition level from Canada's Climate Change Voluntary Challenge and Registry Inc. and the Alberta Human Resources and Employment Certificate of Recognition for its safety management program. Paramount is also registered in the Worker's Compensation Board "Partner's In Injury Reduction" program. Paramount has systems and procedures in place to manage its safety and environmental affairs effectively and to meet regulatory compliance.