Through all of Statkraft’s activities, we aim to create value for society, the environment, and our company simultaneously.
An important part of this work is ensuring that the impact of the transition towards a net-zero carbon economy on people and communities is adequately monitored and addressed.
Caring for people is at the core of Statkraft’s company culture, and Statkraft further sees the company’s commitment to sustainability and responsible business practices as a key factor to achieving its goal of becoming a leading renewables company by 2025.
Statkraft recently worked on further developing its sustainability strategy, and human rights represents one of three focus areas, alongside climate change and biodiversity.
Our approach to respecting human rights
All areas of Statkraft’s work are based on an appreciation of the basic rights and freedoms that belong to every person in the world.
To ensure that Statkraft’s commitment to respecting human rights is embedded in the way the company does business, human rights due diligence is regularly conducted to identify, assess, and address potential risks. These activities are in line with international and national guidelines, and are required in recent regulations like the Norwegian Transparency Act.
Human rights is a material issue area that encompasses a variety of topics material to Statkraft’s business and operations, including:
- labour conditions, including health, safety and security;
- impact on local communities;
- respect for minority and indigenous rights;
- and decent work conditions across the company’s supply chain.
These issues were identified as salient to Statkraft over the course of a corporate-level due diligence assessment conducted in 2020, and as part of Statkraft’s continued work on human rights will represent a focal point moving forward. We are continuously evolving our approach to human rights, and are updating our requirements, processes and understanding of risks on an on-going basis.
Guided by international standards and principles
Statkraft takes guidance from relevant international frameworks and guidelines, including the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights. Statkraft has participated in the UN Global Compact since 2010, and complies with existing EU Directives for its European activities and follows the International Finance Corporation’s Performance Standards on Environmental and Social Sustainability for its international investments and new construction projects.
To specifically guide our human rights efforts, we are committed to operating consistently with the following:
- International Bill of Human Rights
- International Labour Organisation’s (ILO) Declaration on Fundamental Principles and Rights at Work
Statkraft is likewise committed to maximising its commitment to the United Nations Sustainable Development Goals (SDGs), which are widely viewed as a blueprint to achieve a more sustainable future for everyone by 2030. Statkraft has an overarching commitment to contributing to climate change mitigation (SDG 13) through its business activities centred on increasing access to renewable energy (SDG 7) and supporting the development of sustainable communities (SDG 11). Statkraft also seeks to imbed responsible practices throughout its business and operations and consequently addresses additional topics like equality (SDG 5), health and safety (SDG 8), biodiversity (SDG 15), and human rights (SDG 16).
Statkraft is committed to the following United Nations Sustainable Development Goals (SDGs)
Affordable and clean energy
Sustainable cities and communities
Decent work and economic growth
Life on land
Peace, justice and strong institutions
Embedding human rights in policies and practices
Statkraft’s commitment to respecting human rights and engaging with contractors, suppliers, and other business partners is reflected in the company’s Code of Conduct and Supplier Code of Conduct.
Recently, an explicit Commitment Statement on Human Rights was released to further reaffirm Statkraft’s long-standing commitment in this area, especially among its corporate management team.
Setting targets to guide future progress
Statkraft continuously works to embed human rights in the way we do business. The company has targets and activities for material sustainability topics to help guide strategy in these areas moving forward. When it comes to human rights, Statkraft has developed a number of key initiatives related to topics like living wages and work hours, an overview of which can be found in the 2022 Sustainability Strategy. Statkraft also has an established goal to achieve zero confirmed breaches of internationally recognised human rights, as espoused by the United Nations Guiding Principles on Business and Human Rights.