Sustainability at Aker Solutions is about making business decisions that add value to the company, its stakeholders and society. Our strategy sets the direction for where we want to go as a company, combined with a plan for getting there. A sustainable energy future means investing in new technology and offerings to address the need for lowering the carbon footprint of the energy industry as well as developing alternative sources of energy. Our new 20/25/30 goals provide clear, long-term targets for our company.
We aim to generate 20 percent of our revenue from renewables and 25 percent of our revenue from low carbon solutions by the year 2030.
We believe oil and gas will remain our largest revenue contributor, but in order to remain competitive we will have to deliver cost-effective solutions to optimize performance and minimize the cost and environmental footprint in both new and existing segments.
Aker Solutions works proactively to ensure sustainability, integrity, and responsibility in its operations. Sustainability considerations are integrated in internal processes and business operations and tailored to diverse local contexts and stakeholder expectations. The company is a signatory to the UN Global Compact, and thereby respects and adheres to the precautionary principle (Principle 7).
Aker Solutions reports and communicates on sustainability according to the Global Reporting Initiative (GRI), Carbon Disclosure Project (CDP), and the Task Force on Climate Related Financial Disclosures (TCFD). We also follow sustainability reporting recommendations from the Oslo Stock Exchange. Aker Solutions’ strategy supports the UN Sustainable Development Goals.
Decisions are made every day that have an impact across our value chain: they affect people, customers and suppliers, as well as the environment and the communities in which we operate. Some of these decisions have a short-term impact, while others have a long-term effect on stakeholders and the environment.
Aker Solutions believes that the effects are positive overall, but the company is aware of the difficult trade-offs and dilemmas that characterize the oil and gas industry. We know that how we conduct ourselves as an employer and as a business has a profound impact on the company’s ability to create long-term value for society and for our shareholders. More information on risk management can be found in our Corporate Governance Report.
The Code of Conduct is the key governing document and the foundation of our drive to uphold the highest levels of integrity and avoid becoming complicit in unethical or illegal behavior. We strive to minimize harm to the environment by providing environmentally sound technology for our own activities and those of our customers’. We recognize our responsibility to positively impact societies and strive to ensure that they benefit from our operations.
Aker Solutions’ Governance System is guided by 12 policies that are anchored at the highest level in the organization and describe the intention and direction of the organization as formally expressed by top management.