Our approach to Sustainability
Sustainability is a core premises for our investment and business decisions. We approach sustainability considerations along two pillars:
We seek to ensure that our portfolio companies implement processes and procedures for sustainable development in a way that ensures long-term value creation for our shareholders. Our ambition is that our portfolio companies represent the benchmark for profitable, safe, and sustainable operations.
Read more about our commitments to sustainability considerations in our annual Sustainability report. Download at the bottom of this web page.
We put our focus where we can make the biggest difference
7: Ensure access to affordable, reliable, and modern energy for all
8: Promote sustainable economic growth, full and productive employment and decent work for all
resilient infrastructure, promote inclusive and sustainable industrialization
and foster innovation
13: Take urgent action to combat climate change and its impacts
14: Conserve and sustainably use the oceans, seas, and marine resources for sustainable development
17: Strengthen the means of implementation and revitalize the global partnership for sustainable development
Aker recognizes and respects the importance of the United Nations’ (UN) 17 Sustainable Development Goals (SDGs) and is a strong supporter of their implementation. Based on Aker’s business activities, six goals have been identified where we can positively impact and actively contribute to the achievement of the SDGs.
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At the 2020 World Economic Forum (WEF) Annual Meeting in Davos, Aker, alongside 120 of the world’s largest companies, committed to efforts to develop a core set of common metrics for sustainable value creation. As a supporter of WEF’s Stakeholder Capitalism Metrics, Aker uses them to report on its own performance and the performance of its portfolio companies. The core and expanded set of Stakeholder Capitalism Metrics and disclosures developed by WEF can be used by companies to align their mainstream reporting on performance with environmental, social and governance (ESG) indicators, and track their contributions towards the Sustainable Development Goals on a consistent basis. The metrics are deliberately based on existing standards, with the near-term objectives of accelerating convergence among the leading standard-setters and bringing greater comparability and consistency to the reporting of ESG disclosures. The 23 metrics include specific disclosure on governance, planet, people and prosperity.
This Sustainability Reporting are based on the World Economic Forum's (WEF) Stakeholder Capitalism Metrics and further prepared in accordance with the Global Reporting Initiative (GRI) Standards. The report covers material ESG impacts and the management approach of Aker and its investments. The report also includes climate risk reporting based on the TCFD reporting framework, where Aker especially considers the climate-related risks and opportunities of the business. Aker uses a third party for independent assurance of our GHG emissions accounts.
Aker ASA Rated A- for its Sustainability Reporting
In September 2022, Aker ASA and several Aker companies received a high grade in Position Green’s evaluation of environmental, social, and corporate governance (ESG) reporting of the 100 largest companies on the Oslo Stock Exchange.
Aker was rated A- in the evaluation of its 2021 Sustainability Report. To achieve a top mark, the company must communicate concrete targets for each sustainability theme and the targets to be linked to business strategy, risk and performance.
Companies rated grade A demonstrate:
- Excellent reporting in line with best practice
- Good description of material issues and performance in these areas
- Clear strategy and specific, quantifiable targets
Aker BP and Aker Solutions were both awarded an A+ ranking in the same evaluation, Aker Horizons received an A, while Aker Carbon Capture received an A-, and Aker BioMarine received a B rating for its reporting.
In the Aker ASA Sustainability Report for 2021 (scroll down to download), you can read in depth about how sustainability is addressed at Aker, our progress and results.
For more information about ESG 100 Report, go to www.positiongreen.com/advisory/esg100/.