Our responsibility and our principles

As the leading European renewable energy player, we will meet the world’s need for cleaner energy. Our efforts yield a significant contribution to meeting climate challenges and creating a basis for sustainable economic development.

In Statkraft, we view corporate responsibility as a natural part of our core activities, and the key to a successful sustainable business. We are convinced that renewable energy is essential to achieve low-carbon consumption in the future, and we are proud of our contribution to curb climate change.

We realise that our success as a company within renewable energy depends on active support from the society, as well as the enthusiastic commitment of our employees and partners. This means that we must react to the concerns expressed by our stakeholders, regardless of whether we are talking about the social, environmental or economic effects of our activities. We must create a workplace that is safe, healthy and inspiring, and we must do our utmost to ensure that all our employees cultivate sound business ethics.

Stakeholder dialogue

Statkraft wants to have an open and ongoing dialogue with everyone who has an interest in the company, whether they be customers, owners, potential employees, environmental organisations or people who are otherwise directly affected by our activities.

We prioritise this dialogue and strive to carry out our activities in concert with people and the natural environment, rather than at their expense. Developing a good relationship with the large and varied group of stakeholders is therefore important to ensure Statkraft’s success in the many different environments in which we operate.
As part of this process, Statkraft has procedures in place to handle human rights risks in our activities. This is integrated in our business processes through procedures for risk assessment, background checks, consequence analyses and dialogue with our stakeholders.

The value for us is unmistakeable – this is crucial for successful implementation of our strategic goal of being a responsible player in an increasingly global market.

Local influence

While development of renewable energy entails substantial developmental and climate benefits, it is necessarily accompanied by local costs, both for people and nature. To minimise these costs, Statkraft works continuously on measures to ensure that the people and natural assets that are affected are left in a condition that is as good as or better than the condition before the disruption took place.

We use several tools to do this job. The International Finance Corporation’s Performance Standards on Social and Environmental Sustainability one good tool. The work also includes carrying out preparatory studies (Social and Environmental Impact Assessments) for each project, and we devote substantial resources to R&D to improve our understanding of the environment in which we operate.

We want to carry out a positive and open dialogue with all stakeholders, and we work to develop the company in a manner that adds value, not just for our shareholders, but also for the local communities where our activities take place. This work requires a long-term commitment and a good understanding of local cultures and environments, both in Norway and abroad.

Sustainability reporting

Statkraft reports its sustainability performance at a detailed level in the annual report. To ensure sound and sustainable operations in Norway and abroad, we also follow internationally recognised standards and guidelines.

Internationally recognised standards

Statkraft is growing internationally and parts of this growth take place in areas where the standard for sustainable conduct is different than in our home market. This is challenging and places high demands on our employees, contractors and partners. To ensure that our company operates in a sustainable manner, we base our work on internationally recognised standards and guidelines.

Statkraft is a member of the UN’s Global Compact and adheres to the ten principles that include human rights, work standards, the environment and anti-corruption. Statkraft also follows the OECD’s guidelines for multinational companies as regards responsible business conduct. In connection with our development projects, emphasis is placed on the International Finance Corporation’s standards for sustainable performance, which e.g. require implementation of extensive impact analyses as regards the environment and social aspects.

International forums

Statkraft is an active participant in several international forums where climate and energy policy is shaped. The World Business Council for Sustainable Development (WBCSD), International Hydro Association (IHA) and Eurelectric are among the forums where Statkraft is active.

Statkraft is also a member of Transparency International Norway, an organisation dedicated to fighting corruption around the world.