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Governance

At Encana, governance is about defining expectations, verifying our performance and being accountable. We do that with consistent management, cohesive policies and practices and transparent reporting.

We believe that strong corporate governance practices are good for business and translate into enhanced shareholder value. We maintain a comprehensive, multi-faceted corporate governance program. We continually assess and update our practices where necessary to help ensure the continued achievement of our objectives.

Our corporate governance practices are a component of a larger corporate responsibility philosophy. While our corporate governance and other practices are designed to ensure that we comply with applicable legal requirements, these practices are also aimed at enhancing stakeholder confidence.

Policies Renewed

We have an established set of business standards that clearly demonstrate the expectations we have of our employees and contractors. Our policies ensure a common understanding among our workforce of the business, legal and regulatory steps we follow. Our policies and practices support our commitment to corporate responsibility.

Following the corporate reorganization of our oil and gas businesses in 2009, we worked to realign our policies and practices with our operations. This realignment included revising the Corporate Responsibility Policy and creating separate Environment and Health & Safety policies in order to clarify and enhance our commitments in each area. Our employees are responsible for understanding and complying with Encana’s policies and practices. In 2010, all employees were required to confirm their commitment to Encana’s policies and practices. In accordance with individual accountability, 100 percent of our staff signed off on the core policies and practices.

NEW ENVIRONMENT, HEALTH & SAFETY MANAGEMENT SYSTEM LAUNCHED

Our operations carry inherent environmental, health and safety risks and the ongoing improvement of our performance depends on successfully identifying and mitigating those risks. In 2010, recognizing that a systematic approach is the most effective way to address those risks, we refined and reintroduced our Environment, Health & Safety management system, called Ethos.

Ethos establishes 16 corporate-wide Environment, Health & Safety standards that clearly define how we conduct our business at Encana. These standards govern how we manage our environment, health and safety responsibilities and are designed to help us create an injury-free workplace, minimize our environmental impact and treat our neighbours with respect. These actions provide the foundation for responsible development.

Integral to those standards is the implementation of a systematic methodology called Plan, Do, Check, Act. This simple, four-step approach guides users to predictable and repeatable results and drives the continuous improvement of our processes.

Ethos also allows us to more comprehensively track and understand our environment, health and safety performance. It promotes accountability throughout the organization and all Encana staff are expected to integrate Ethos into their work – everything from conducting routine daily tasks to the execution of our development plans.

New audit program

We redesigned our corporate Environment, Health & Safety audit program to focus on governance and management system conformance assurance. The new audit program aligns seamlessly with Ethos, ensuring the policies and practices we’ve developed through Ethos are meeting our objectives. We’re committed to providing transparent and effective progress tracking and reporting to ensure we are continuously improving.

Operating With Integrity

At Encana, we are committed to attaining the highest standards of corporate governance. If we fall short of any of our commitments, we want to know about it. Our Integrity Hotline is one way for employees, vendors, contractors or other stakeholders to raise any concerns they may have about our company. In 2010, 93 callers called the hotline, of which 46 calls were requests for information and 47 were callers raising a concern.

Concerns Raised – Integrity Hotline in 2010

Governance

Recognition

Encana’s focus on being a leader in governance and corporate responsibility has been recognized in a number of areas, by a number of organizations. Recent examples include: