Even with the increasing development of renewable energy, the world will need oil and gas for a long time to come and we will act as a responsible partner in delivering to the oil and gas and renewable markets.

With a clear focus on environmental, social and governance activities, we commit to:

• Working together to face the climate change challenge
• Taking ownership in creating a cleaner, safer and more sustainable future through improved solutions
• Acting responsibly to the benefit of our employees, customers and society

Governance

Aker Solutions works proactively to ensure sustainability, integrity and responsibility in its operations. Sustainability at Aker Solutions is about making sustainable business decisions that add value to the company, its stakeholders and society. 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). This report is our annual Communication on Progress. Aker Solutions has published corporate responsibility / sustainability reports since 2006, with annual releases since 2010.
 
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 the Euronext guidance on ESG reporting of January 2020. 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’ Management System is governed through 10 policies anchored at the highest level in the organization that describe the intention and direction of the organization as formally expressed by top management. Due to the merger with Kvaerner in November 2020, the policies were updated to reflect the new organization and are now published.