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Corporate responsibility

Creating value for society

HOW AKER RELATES TO SOCIETY THROUGH ITS ACTIVITIES:

Aker invests capital and knowledge in forward-looking companies that will, by exercising corporate responsibility in their operations, deliver satisfactory financial results in the long term.

Aker promotes value creation for its shareholders, staff, customers and the society of which Aker and its portfolio companies form a part. By exercising active ownership, Aker takes responsibility for how these values are created. Aker expects all its portfolio companies to engage in an open dialogue with all its partners and affected parties. Each company carries responsibility for continuing to develop relations to its stakeholders, both locally and internationally.

Aker’s goals are long-term value creation through responsible and forward-looking workplaces in its portfolio companies.

People create Aker

HOW AKER RELATES TO PEOPLE, HUMAN RIGHTS AND WORKERS’ RIGHTS:

Aker has an international agreement that governs working conditions, committing and uniting Aker and its portfolio companies.

INTERNATIONAL FRAMEWORK AGREEMENT
Aker does not tolerate any form of discrimination, harassment or degrading treatment of employees – be it in Aker or its portfolio companies. This has also been set down in the global framework agreement with Fellesforbundet (the Norwegian United Federation of Trade Unions), IndustriALL Global Union, NITO (the Norwegian Society of Engineers and Technologists) and Tekna (the Norwegian Society of Graduate Technical and Scientific Professionals). At Aker, it is possible to raise issues or potential issues as part of the dialogue between the union representatives and the management. In 2016, as in preceding years, no events violating the 2008 agreement were reported. This cooperation agreement establishes fundamental labour rights and refers to existing labour standards to secure the health, safety and environment (HSE), pay, working hours and employment conditions. The agreement commits Aker to respecting and supporting fundamental human rights and union rights in the countries where its portfolio companies have operations. These principles are set out in the Universal Declaration of Human Rights, the OECD Guidelines for Multinational Enterprises and ILO’s Declaration on Fundamental Principles and Rights at Work. The agreement covers Aker and its industrial portfolio companies with international operations.

THE AKER MODEL
Aker has a long history of collaboration between its main owners, management and union representatives, and of open dialogue with the authorities and the social partners. This tradition of dialogue is referred to as “the Aker model,” a model that brings together parties representing different groups with competing interests. The objective is to find solutions that benefit the companies and their employees. This collaboration gives Aker a clear direction and strong implementation ability.

LIFESTYLE AND HEALTH
Aker wants to provide conditions that enable the company’s own and its portfolio companies’ employees to safeguard their health and deliver results through working with others. Two initiatives have been put in place in all companies, independent of company structure: Aker Care, a health-promoting service, and the lifestyle and performance portal Aker Active. Aker Care fosters health and well-being and has the objective of identifying both personal and work-related health risks, and quickly addressing health problems. Aker Active promotes physical activity and measures to improve health for all Aker and portfolio companies’ employees

Read more in Aker ASAs corporate responsibility report (2016)

Aker's environmental commitments

HOW AKER DEALS WITH ENVIRONMENTAL AND CLIMATE-RELATED CHALLENGES:

Aker works to ensure that its portfolio companies help improve resource efficiency and reduce climate emissions.

Aker is an investment company with no operating activities, and its direct negative impact on the environment, apart from work-related travel, is minimal. The company takes responsibility for the environment, mostly through adherence to three guiding principles:

  • Being a driving force to reduce any negative environmental impact from the operations of its portfolio companies.
  • Increasing the focus on the portfolio companies’ efforts and solutions to address environmental and climate challenges.
  • Increasing awareness of environmental and social/societal outcomes and consequences of the portfolio companies’ activities

EXPECTATIONS TO THE PORTFOLIO COMPANIES
The industrial portfolio companies develop their own plans to minimise their environmental and climate impact, and are responsible for reducing any negative environmental impact. Each company’s board of directors adopts its own governing documents, which also include environmental guidelines. The companies publish information on significant and relevant environmental issues in their respective CR reports. As owner, Aker expects its companies to take responsibility for minimising their environmental impact above and beyond the requirements of international and local law and norms.

CR FORUM
Aker is the driving force behind and coordinator for the Corporate Responsibility Forum (the CR Forum). This is a network consisting of key personnel working with corporate responsibility in Aker and its portfolio companies, where they can share insights and experiences. Environmental and climate problems are important items on the agenda. Aker believes in the importance of setting goals, and that the most effective way of reducing emissions globally is to replace coal with Norwegian natural gas.

Zero tolerance for corruption

HOW AKER ADDRESSES CORRUPTION AND ETHICAL CHALLENGES:

Aker works to promote healthy, good values and the right, commercial actions. Aker has introduced its anti-corruption policy in its portfolio companies.

Aker’s Code of Conduct and anticorruption policy contain principles on important issues such as bribery, gifts and services, and other possible forms of corruption. All employees are expected to be familiar with the Code of Conduct and anti-corruption policy in their area.

INTEGRITY CHANNEL
Aker has an open integrity channel where matters of concern such as breaches of HSE legislation, harassment, insider trading, money laundering, fraud, bribery and kickback schemes and other breaches of Aker’s ethical guidelines can be reported. All such reports are forwarded to a third party, and are processed under the appropriate policy for this channel. It is possible for persons reporting matters through this channel to remain anonymous in relation to Aker and only reveal their identity to the third party. Aker will not retaliate or sanction persons that report possible matters of concern.