1 PURPOSE
Norwegian Energy Company ASA (“Noreco” or the “Company”) is committed to provide unique value creation for all our stakeholders by building an optimized portfolio of exploration, development and production assets. We believe that our integrity and standards are critical to our sustainability and value as a company, and that success is both about achieving the right results and delivering in the right way. The Company pursues opportunities while taking the social impact of our business operations into consideration.
This document contains the basic principles that Noreco will follow with respect to our Corporate Social Responsibilities (“CSR”).
2 BASIC CORPORATE SOCIAL RESPONSIBILITIES PRINCIPLES
2.1 Respect for Human rights
Noreco supports the principles set forth in the Universal Declaration of Human Rights. The Company shall ensure that our operations are conducted in accordance with basic human rights standards.
2.2 Contribution to sustainability
Noreco will act as a responsible and supportive member of the local society, and help create value for the society, develop the local industry and community by using local service providers and contractors, and by cooperating with local R&D and academic institutions.
2.3 Environment
Noreco understands the importance of protecting the environment and strive for environmentally friendly consciousness both from us, our partners, contractors and suppliers.
Noreco will do our utmost to protect the environment by minimizing waste, emissions and other long term negative impact on the environment in all of our activities.
Noreco also ensures environmental measures through its memberships of The Norwegian Clean Seas Association for Operating Companies (NOFO) and as a KPD-member (Chemical Product Data).
2.4 Integrity
Noreco shall maintain high standards of integrity. The Company shall be honest and fair in all dealings.
2.5 Anti corruption
The Company will not permit or tolerate engagement in extortion, bribery or other forms of corruption.
3 RULES GOVERNING PERSONAL CONDUCT
3.1 Employee health, safety and working environment
Noreco cares for our employees by taking health, safety and the environment seriously. The Company will safeguard people, our facilities and the environment from harm through continued focus on health, safety and environment in all aspects of our business.
Noreco will strive towards our HSE vision: zero accidents, zero incidents and zero long term impact to the environment.
3.2 Diversity
Noreco will not discriminate on the basis of gender, religion, race, national or ethnic origin, cultural background, social group, disability, sexual orientation, marital status, age or political opinion. Harassment and other improper conduct are not tolerated.
3.3 Communication on illegal or unethical conduct
Every employee has the right to, and is encouraged to, report possible illegal or unethical conduct by the Company to someone who is in a position to initiate corrective measures. Circumstances that ought to result in a report is for example breach of law, breach of corporate directives and guidelines, breach of code of conduct, bullying of colleagues, discrimination, harassment, illegal use of substances, poor working environment, corruption, cases of tax evasion, insider trading, economic disloyalty, embezzlement, theft, fraud and other forms of economic crime.
There are several ways to make such notification. In principle all employees can report, orally or in writing, to a line manager, to a designated Board Member, to the Personnel Manager, the Human Resources Director, or to the employee representative.
4 ROLES AND RESPONSIBILITIES
The Board of Directors is responsible for developing ethical and CSR policy, guidelines and procedures, and for monitoring the performance of the CSR policy that govern the Company.
Each Noreco employee and Board Member is responsible for abiding the core CSR principles as outlined in this document.
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Approved by the board on [14.03.11 ].
1. PURPOSE
Norwegian Energy Company ASA (“Noreco” or the “Company”) is committed to provide unique value creation for all our stakeholders by building an optimized portfolio of exploration, development and production assets. We believe that our integrity and standards are critical to our sustainability and value as a company, and that success is both about achieving the right results and delivering in the right way. The Company pursues opportunities while taking the social impact of our business operations into consideration.
This document contains the basic principles that Noreco will follow with respect to our Corporate Social Responsibilities (“CSR”).
2. BASIC CORPORATE SOCIAL RESPONSIBILITIES PRINCIPLES
2.1 Respect for Human rights
Noreco supports the principles set forth in the Universal Declaration of Human Rights. The Company shall ensure that our operations are conducted in accordance with basic human rights standards.
2.2 Contribution to sustainability
Noreco will act as a responsible and supportive member of the local society, and help create value for the society, develop the local industry and community by using local service providers and contractors, and by cooperating with local R&D and academic institutions.
2.3 Environment
Noreco understands the importance of protecting the environment and strive for environmentally friendly consciousness both from us, our partners, contractors and suppliers.
Noreco will do our utmost to protect the environment by minimizing waste, emissions and other long term negative impact on the environment in all of our activities.
Noreco also ensures environmental measures through its memberships of The Norwegian Clean Seas Association for Operating Companies (NOFO) and as a KPD-member (Chemical Product Data).
2.4 Integrity
Noreco shall maintain high standards of integrity. The Company shall be honest and fair in all dealings.
2.5 Anti corruption
The Company will not permit or tolerate engagement in extortion, bribery or other forms of corruption.
3. RULES GOVERNING PERSONAL CONDUCT
3.1 Employee health, safety and working environment
Noreco cares for our employees by taking health, safety and the environment seriously. The Company will safeguard people, our facilities and the environment from harm through continued focus on health, safety and environment in all aspects of our business.
Noreco will strive towards our HSE vision: zero accidents, zero incidents and zero long term impact to the environment.
3.2 Diversity
Noreco will not discriminate on the basis of gender, religion, race, national or ethnic origin, cultural background, social group, disability, sexual orientation, marital status, age or political opinion. Harassment and other improper conduct are not tolerated.
3.3 Communication on illegal or unethical conduct
Every employee has the right to, and is encouraged to, report possible illegal or unethical conduct by the Company to someone who is in a position to initiate corrective measures. Circumstances that ought to result in a report is for example breach of law, breach of corporate directives and guidelines, breach of code of conduct, bullying of colleagues, discrimination, harassment, illegal use of substances, poor working environment, corruption, cases of tax evasion, insider trading, economic disloyalty, embezzlement, theft, fraud and other forms of economic crime.
There are several ways to make such notification. In principle all employees can report, orally or in writing, to a line manager, to a designated Board Member, to the Personnel Manager, the Human Resources Director, or to the employee representative.
4. ROLES AND RESPONSIBILITIES
The Board of Directors is responsible for developing ethical and CSR policy, guidelines and procedures, and for monitoring the performance of the CSR policy that govern the Company.
Each Noreco employee and Board Member is responsible for abiding the core CSR principles as outlined in this document.
***
Approved by the board on 14.03.11.