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Work bench and drawers
Photo: Lars Petter Pettersen

Work bench and drawers at Vinje power plant in Norway.

Governance

Our approach to sustainability is continuously evolving, along with our business strategy and international developments. The Statkraft management system includes policies and requirements which guide us in our daily work.

Our core principles

Statkraft’s Code of Conduct (the Code) describes our fundamental principles for sustainable and responsible behaviour and the Code has been adopted by the Board of Directors. The Code applies to all companies in the Statkraft Group and all individuals who work for them, regardless of location. Our expectations towards our suppliers are described in Statkraft’s Supplier Code of Conduct, and all business partners are expected to adhere to standards consistent with these. 

The Statkraft Way

Sustainability is an inherent part of our business activities and is reflected in our management system, known as The Statkraft Way. The system governs how we do our business and forms the foundation for continuous improvement of our activities. It also sets the direction for how we work with sustainability issues. 

Turbine wheel representing levels of governing documents

Laws, regulations and guidelines

As a Norwegian company, we comply with Norwegian laws and regulations as well as with applicable laws and regulations in the countries where we operate. When developing our policies, we also take guidance from relevant international frameworks and guidelines, including the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights. For new business activities, the IFC Performance Standards on Environmental and Social Sustainability are taken into consideration.

Performance

The company has identified Key Performance Indicators (KPIs) that also cover sustainability topics, such as health and safety, environment and business ethics. Our performance on these is regularly reviewed by the Corporate Management and the Board of Directors. Sustainability issues are also included in Corporate Audit’s plan and work.



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