The Statkraft Way

The Statkraft Way, Statkraft’s management system, is based on the Group's vision, values, code of conduct and business model and provides, through briefly formulated policies and more detailed specification and supporting documents, an introduction to how Statkraft works. Corporate responsibility is a key topic in The Statkraft Way.

Requirements and guidelines

Statkraft will operate in accordance with applicable laws and regulations in all countries where we have activities and adhere to internationally recognised standards and guidelines. We focus our work towards creating a work culture in accordance with our principles and which promotes good business practice.

Statkraft's fundamental principles for acting in a sustainable, ethical and socially responsible manner are described in Statkraft's code of conduct. The Code of Conduct applies to all employees and companies in the Statkraft Group, and Statkraft's business partners are expected to have standards in accordance with Statkraft's Code of Conduct. Statkraft has also prepared corresponding guidelines for the Group's suppliers.

Follow-up of Statkraft's corporate responsibility is an integrated part of Statkraft’s management system, The Statkraft Way. The management system facilitates a structured and uniform handling of the company's corporate responsibility, and the system is regularly evaluated to adapt it to new environments and challenges. More detailed descriptions of how Statkraft's corporate responsibility will be discharged throughout the value chain can be found in the specification and support documents for the different areas, including for business ethics, environment, human rights, health and safety and security. 

Statkraft is a member of the UN's Global Compact and is committed to following up this initiative and its ten principles. Furthermore, Statkraft bases its conduct on internationally recognised initiatives and standards, including principles from OECD's Guidelines for Multinational Enterprises and IFC's Performance Standards on Social and Environmental Sustainability. OECD's guidelines present recommendations from governments to multinational companies in relation to responsible business conduct, while IFC's standards provide guidelines for sustainable behaviour throughout the value chain.

Corporate responsibility throughout the organisation

Corporate responsibility is a line responsibility in Statkraft. This means that each individual unit has an independent responsibility to conduct the business activities in a responsible manner and that follow-up of topics such as health and safety, corruption, human rights and environmental impact are incorporated in relevant processes, projects and tasks in each individual unit.

In addition, Statkraft has a corporate staff to follow up the company's work and performance as regards corporate responsibility on an overall level. The staff has an advisory role vis-à-vis the business units and ensures that corporate responsibility is properly discharged in the Group's management and reporting system.

Corporate responsibility in development projects

Statkraft has a set process for execution of major development projects, mergers and acquisitions which ensures a unified approach to, e.g., corporate responsibility from an early phase and through stepwise decision processes. The model's basic principle is that each main decision must be accompanied by documented information on a number of stipulated topics, including corporate responsibility, as part of the decision basis.

ISO 14001 and OHSAS 18001

Statkraft’s environmental management system has been designed in accordance with ISO 14001:2004, and parts of the Group's activities in Norway and Sweden have also been certified under this standard. Statkraft has prepared Group-wide requirements and guidelines for environmental management, covering mapping of environmental impact and risk, mapping of expertise and expertise needs, as well as establishment of goals and action plans.

Statkraft's health and safety management system is based on the principles in OHSAS 18001. Common requirements and guidelines have been prepared for a number of areas, for example as investigation of serious incidents, handling of particularly hazardous work operations and reporting and follow-up of incidents.

Emergency preparedness

Emergency preparedness plans have been prepared for all operative units in the Group and focus especially on protecting life and health, reducing negative environmental impact and securing the company's assets. Emergency drills are held regularly on different levels in the organisation so that unexpected, serious situations will be handled in a suitable and efficient manner.

Performance follow-up

Statkraft’s Group scorecard includes KPIs for the environment, health and safety areas and the scorecard results are regularly reviewed by the Group management and the board. In addition, relevant results and measures within all topics associated with corporate responsibility are discussed in regular Business Reviews (meetings between the President and CEO and the business/staff unit).

In its work, the Group Audit considers to what extent the requirements and guidelines for discharging corporate responsibility have been implemented and adhered to in the organisation. This takes place through focused audits and as part of more wide-ranging efforts. In 2013, no serious noncompliances were registered in connection with corporate responsibility.

Statkraft has established a Group-wide system for registration and follow-up of noncompliances and potential improvements. The system facilitates structured handling of measures and deadlines, analysis of causal links and learning across the organisation.