The Statkraft Way

The Statkraft Way, Statkraft’s management system, is based on the Group's vision, values, Code of Conduct and business model. It contains both briefly formulated policies and more detailed specifications and supporting documents. Corporate responsibility is a key topic in The Statkraft Way.

Statkraft shall 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 individuals who work for Statkraft, and Statkraft's business partners are expected to have standards that are consistent  with Statkraft's ethical requirements. Statkraft has prepared corresponding guidelines for the Group's suppliers.

Corporate responsibility is an integrated part of Statkraft’s management system, The Statkraft Way. The management system facilitates structured and coordinated handling of the company's corporate responsibility, and the system is regularly evaluated to adapt it to new expectations and challenges. Detailed descriptions of how to safeguard Statkraft’s corporate responsibility for different areas can be found in requirements and supporting documents.  

Statkraft is a member of the UN 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 the OECD's Guidelines for Multinational Enterprises and IFC's Performance Standards on Environmental and Social Sustainability. The OECD's guidelines present recommendations from governments to multinational companies in relation to responsible business conduct, while IFC's standards provide guidelines for sustainable behavior throughout the value chain.

Corporate responsibility throughout

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

At Group level, Statkraft has a dedicated staff to follow-up the company's work and performance as regards corporate responsibility on an overall level. This 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 social responsibility in development projects

Statkraft has a model for implementing major development projects, mergers and acquisitions which ensures a unified approach to for example 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.

Emergency preparedness

Emergency preparedness plans have been prepared for all operative units in the Group and focus especially on protecting life and health, avoiding 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 manner.

Performance follow-up

Statkraft has KPIs at Group level for the areas of environment and health and safety, and results are reviewed regularly in both the Corporate management and the board of directors. In addition, relevant challenges and results within all topics associated with corporate responsibility are discussed in regular Business Reviews (meetings between the CEO and each 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.

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