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Corporate Social Responsibility at Aker 2014 Proud Ownership Corporate Social Responsibility at Aker 2014 2

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Corporate Social Responsibility at Aker 2014 Proud Ownership Corporate Social Responsibility at Aker 2014 2 Corporate social responsibility at Aker 2014 Proud ownership Corporate social responsibility at Aker 2014 2 INTRODUCTION 3 AKER’S CSR PRIORITIES AND THE COMPASS 4 AKER’S FOUR PRIORITY AREAS 5 1. People 5 2. The environment 7 3. Integrity 8 4. Society 9 CSR IN AKER’S WHOLLY- OWNED SUBSIDIARIES 11 Contents Aker BioMarine AS 12 Fornebuporten AS 13 Introduction 03 Aker’s CSR priorities and the Compass 04 SUMMARY AND POTENTIAL IMPROVEMENTS 14 Aker’s four priority areas 05 CSR in Aker’s wholly-owned subsidiaries 11 ENCLOSURE : CSR IN AKER OWNED COMPANIES 15 Summary and potential improvements 14 Det norske oljeselskap ASA 16 Enclosure: CSR in Aker owned companies 15 Aker Solutions ASA 17 Akastor ASA 19 Kværner ASA 20 Ocean Yield ASA 21 Havfisk ASA 22 Aker Philadelphia Shipyard ASA 24 Norway Seafoods ASA 25 Design: Tania Goffredo Design | Photo: Aker and Aker-owned companies, and Norwegian Seafood Council/Johan Wildhagen Corporate social responsibility at Aker 2014 3 Introduction INTRODUCTION 3 Aker ASA (Aker) is an industrial investment company. We exercise active ownership to promote profitable, sustainable In this report, Aker ASA is referred AKER’S CSR PRIORITIES and responsible businesses, driven by financial objectives and corporate social responsibility (CSR). to as Aker, while companies in AND THE COMPASS 4 which Aker has ownership interests Making deliberate, socially responsible decisions enables us to achieve both in the context of developing sustainable businesses and by AKER’S FOUR greater long-term profitability while also taking care of our environment. gathering examples of best practice and spreading knowledge in all are called Aker-owned companies. PRIORITY AREAS 5 Aker’s most important social contribution is to create value by developing Aker-owned companies. 1. People 5 forward-looking companies that supply products and services in an The following wholly-owned subsidiaries 2. The environment 7 environmentally friendly, ethical and socially responsible manner. In 2014, Aker launched a CSR network for representatives from Aker- are discussed in this report: 3. Integrity 8 owned companies, and organised a seminar attended by both internal 4. Society 9 Aker’s vision is to exercise proud ownership. Our CSR work is based and external participants. The network is designed to facilitate the sharing nn Aker BioMarine AS on our core values — to be results-oriented, opportunity-oriented, of examples of strategies, activities and actions that promote CSR. nn Fornebuporten AS knowledge-oriented and cooperation-oriented — and we aim to be a CSR IN AKER’S WHOLLY- OWNED SUBSIDIARIES 11 role model for the companies in which we exercise ownership through Aker’s guidelines are summarised in its Code of Conduct. The Code of The reports on companies in which Aker our principles and actions. Conduct applies to all employees and other Aker stakeholders. Aker’s is the majority shareholder are attached Aker BioMarine AS 12 anti-corruption policy is outlined in greater detail in chapter 3. to this report; see the links below: Fornebuporten AS 13 Aker’s active ownership is based on its long industrial history, which stretches back to 1841. Ownership is exercised both at board level The CSR report has been prepared in accordance with section 3-3c nn Aker Solutions ASA SUMMARY AND POTENTIAL in Aker and in the operational industrial companies, and entails close of the Accounting Act, which requires large undertakings to report nn Akastor ASA IMPROVEMENTS 14 follow-up by Aker’s investment team and management. Aker’s corporate annually on their CSR work. Aker’s CSR report provides an account of nn Kværner ASA culture is based on good business practices, openness, honesty and the company’s overarching guidelines. In addition, the report provides nn Det norske oljeselskap ASA ENCLOSURE : CSR IN respect for other people. an account of how Aker implements CSR at the parent-company level nn Ocean Yield ASA AKER OWNED COMPANIES 15 and in Aker-owned companies, examples of achieved CSR results and, nn Havfisk ASA Det norske oljeselskap ASA 16 Part of exercising proud ownership is being an active owner in all our finally, a summary of areas where Aker sees potential for improvement, nn Aker Philadelphia Shipyard ASA Aker Solutions ASA 17 companies. Aker’s objective is to be a catalyst for its subsidiaries, and CSR expectations going forward. nn Norway Seafoods AS Akastor ASA 19 Kværner ASA 20 Ocean Yield ASA 21 Havfisk ASA 22 Aker Philadelphia Shipyard ASA 24 Norway Seafoods ASA 25 Corporate social responsibility at Aker 2014 4 Aker’s CSR priorities and the Compass INTRODUCTION 3 The four priority areas Aker has defined as the most important for its CSR work AKER’S CSR PRIORITIES are based on the UN Global Compact. AND THE COMPASS 4 The Global Compact is the world’s largest initiative to promote international CSR standards, and The Compass is a corporate governance tool which builds on Aker’s AKER’S FOUR is based on ten principles addressing human rights, labour standards, the environment and anti- fundamental values and the four priorities listed above. Aker’s values PRIORITY AREAS 5 corruption. Aker is not currently a member/signatory of the Global Compact. Aker’s four priority 1. People 5 areas are: are the foundation for our day-to-day operations. 2. The environment 7 3. Integrity 8 1. People 3. Integrity 4. Society 9 How Aker and Aker-owned companies relate to How Aker and Aker-owned companies address people, human rights and labour rights locally corruption and ethical challenges. and globally. CSR IN AKER’S WHOLLY- OWNED SUBSIDIARIES 11 2. The environment 4. Society Aker BioMarine AS 12 How Aker and Aker-owned companies deal with How the activities of Aker and the Aker-owned Fornebuporten AS 13 environmental and climate-related challenges. companies impact on society. SUMMARY AND POTENTIAL IMPROVEMENTS 14 The Compass ENCLOSURE : CSR IN The Compass is a corporate governance tool Aker introduced the Compass in 2013, and it has AKER OWNED COMPANIES 15 which builds on Aker’s fundamental values and been presented to the other Aker-owned compa- Det norske oljeselskap ASA 16 the four priorities listed above. Aker’s values are nies over the past two years. For further details on Aker Solutions ASA 17 the foundation for our day-to-day operations. The the Compass, please visit Aker’s website. Akastor ASA 19 Compass also includes four guiding principles Kværner ASA 20 for Aker’s day-to-day work and the exercise of Ocean Yield ASA 21 ownership in challenging waters. Havfisk ASA 22 Aker Philadelphia Shipyard ASA 24 Norway Seafoods ASA 25 Corporate social responsibility at Aker 2014 5 Aker’s four priority areas INTRODUCTION 3 Aker and Aker-owned companies aim to be in the international Aker-owned companies. Some key figures relating to our people 1. People stimulating workplaces offering an inclusive and In 2008, Aker was among the first Norwegian As at 31 December 2014, Aker had a total of AKER’S CSR PRIORITIES diverse working environment. We do not tolerate companies to sign a global framework agree- 47 employees. 47 per cent of the company’s AND THE COMPASS 4 How Aker and Aker-owned compa- any discrimination, harassment or degrading ment with the Norwegian United Federation of employees were women. The board chairman, treatment of employees. Our Code of Conduct Trade Unions (Fellesforbundet), IndustriALL President and CEO and CFO, who together AKER’S FOUR nies relate to people, human rights PRIORITY AREAS 5 sets out ethical guidelines for our employees Global Union, NITO and TEKNA. The agree- comprise the senior management team, are all and labour rights locally and globally and partners, and principles relating to human ment commits Aker to ensuring decent working men. Aker seeks to facilitate workplace flexibility 1. People 5 rights, workers’ rights and social conditions. We conditions in accordance with the Universal so that employees can enjoy a good work-life 2. The environment 7 expect our staff to be familiar and comply with Declaration of Human Rights, the OECD Guide- balance in all stages of their careers. 3. Integrity 8 our ethical guidelines. lines on Multinational Companies and ILO core 4. Society 9 conventions. Non-compliance with or opposi- Aker gives priority to promoting an open or- Labour rights: the Aker model and the global tion to the agreement is unacceptable, and has ganisational culture, and wants its employees CSR IN AKER’S WHOLLY- framework agreement resulted in consequences when discovered. to give input on potential improvements. We OWNED SUBSIDIARIES 11 Aker and Aker-owned companies have a long regularly carry out working environment sur- Aker BioMarine AS 12 and proud tradition of developing and applying Based on the agreement, company-internal veys. The most recent survey was conducted Fornebuporten AS 13 the Norwegian cooperation model to the work- forums for dialogue and cooperation have, for in 2013, and showed stable, consistently high place and the community, with the cornerstone example, been established in Aker Solutions’ di- employee job satisfaction. A new survey is SUMMARY AND POTENTIAL of the model being the tripartite dialogue be- vision in Port Klang, Malaysia. Company-internal scheduled for April 2015. IMPROVEMENTS 14 tween the authorities and labour and employer bodies are also being set up in Brazil and the organisations. Aker and Aker-owned companies United Kingdom. At the end of 2014, Aker had approximately ENCLOSURE : CSR IN have been shaped by a similar cooperation 40,000 employees in companies where Aker AKER OWNED COMPANIES 15 among employees, owners, management and In 2014, a decision was made to expand Aker’s had a direct or indirect majority shareholding, society since Norway’s post-WWII reconstruc- former European cooperation committee and with around 29,000 of these working in Norway.
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