Corporate Responsibility in Statkraft

We shall operate sustainably and develop our business in a way that adds value to its shareholder and the countries and local communities in which we operate.

In order to succeed, we must work in a structured and systematic manner on all issues relating to corporate responsibility and integrate this work in all relevant processes in the company, such as purchasing, acquisitions, project development and operation of our assets.

Our corporate responsibility work is founded on internationally recognised initiatives and standards such as the UN Global Compact and IFC's Performance Standards on Environmental & Social Sustainability.

Statkraft's fundamental principles for sustainable, ethical and socially responsible behaviour are described in Statkraft's Code of Conduct. The Code of Conduct applies to all companies in the Statkraft Group and to all individuals who work for Statkraft, regardless of location. This includes employees at all levels, board members, hired personnel, consultants and others who act on behalf of or represent Statkraft. Business partners are expected to adhere to standards that are consistent with Statkraft’s ethical requirements.

Corporate responsibility is a central and integrated part of Statkraft’s management system. The management system facilitates a structured and uniform handling of the Group's corporate responsibility, and the system is regularly evaluated to be tailored to new expectations, business environments, and challenges.

The construction of the Cheves Hydropower Project in Peru was completed in 2015. Involving local society in the planning of the project has been important in order to create local acceptance and involvement.

Climate and the environment

Statkraft's environmental ambition is to provide renewable, sustainable and robust climate energy solutions. 99% of the Group's power and district heating production in 2015 was based on renewable energy sources, and new investments are now exclusively made within renewable energy. However, renewable power generation might also affect the environment. Environmental impact assessments are undertaken for all relevant business activities, and our goal is always to find environmentally responsible solutions.

Statkraft established a climate research programme in 2013. The climate programme includes obtaining updated climate forecasts and facilitating unified handling of climate challenges.

Health and safety

In Statkraft, health and safety has the highest priority, everywhere and always. The goal is zero work-related injuries. In an effort to reach this goal, the Group works systematically to establish a value-based safety culture based on transparency and continuous improvement. The Group's management and follow-up of health and safety are based on international good practice.

Incidents with a high risk for serious consequences are investigated in a structured manner, and learnings from the incident are shared across the organisation.


Statkraft takes a comprehensive approach to security, preparedness and crisis management and follows international good practice. In Statkraft, the umbrella term security encompasses four areas; personnel security, physical security, IT system security and information security.

In 2015, overall country threat assessments have been produced for all countries with Statkraft presence or interest, and updated security risk assessments have been performed for key locations.

Human rights

Statkraft acknowledges its corporate responsibility to respect human rights and this is something the Group takes seriously. The United Nations Guiding Principles on Business and Human Rights are reflected in Statkraft’s management system and project management tools.  

Ethics and anti-corruption

Statkraft has committed to a high ethical standard and business culture, with zero tolerance for corruption. With increased activity in markets exposed to corruption, Statkraft places significant emphasis on a strong ethical business culture and on developing robust anti-corruption measures.

A risk assessment and mapping of need related to improvements in relation with preventative measures in each of Statkraft’s business areas was concluded in 2015. Furthermore, a new two-year cycle of training on business ethics and anti-corruption has been rolled-out.

Social issues

As a power provider, we have a very long-term perspective, which emphasises the need to develop sustainable solutions. We seek to establish a regular and open dialogue on sustainability issues with host communities and other stakeholders and we facilitate such dialogue and interaction in all project development and operations.