Corporate governance

Efficient and transparent management and control of the business will form the basis for creating long-term values for the owner, employees, other stakeholders and society in general, and, as a result, contribute to sustainable and durable creation of value.

The role distribution between the Norwegian state as the owner, the Board of Directors and the general management in the company builds confidence in stakeholders through predictability and credibility. Open and accessible communication will ensure that the Group maintains a good relationship with society in general and the stakeholders who are affected by the company’s activities in particular.

Statkraft follows the Norwegian State’s principles for sound corporate governance, described in the White Paper Meld. St. 27 (2013-2014) Et mangfoldig og verdiskapende eierskap (diverse and profitable State ownership), and is subject to reporting requirements relating to corporate governance according to Section 3-3b of the Accounting Act. Furthermore, Statkraft applies the Norwegian Code of Practice for Corporate Governance (NUES) within the framework established by the company’s organisation and ownership. Deviations from the recommendation are due to the fact that Statkraft is wholly owned by the Norwegian state.

Reference is also made to the separate description of corporate management in the annual report on Statkraft’s website.