Veidekke Asa 2

CSR Report 2012 Corporate Social Responsibility (CSR) report 2012 VEIDEKKE ASA 2 Content Corporate Social Responsibility 3 Introduction by the President and CEO 3 Governing documents 5 Global Reporting Initiative (GRI) 7 Social conditions: «School on site» 8 HSE 10 – Next Generation HSE 12 – Sickness absence 13 – Job satisfaction and well-being 14 Ethics 16 Diversity 18 Environment: Environment in Swedish 20 Environmental strategy 22 Energy consumption 24 Finance: Motivated employee-owners 26 Finance and value-creating 28 Transparency and dialogue 30 Employees 32 Customers 35 Suppliers 36 Investors 37 Authorities 38 Corporate Social Responsibility (CSR) report 2012 VEIDEKKE ASA 3 CSR Introduction by the President and CEO In recent years we have seen something of a revolution in the focus on energy and environmental issues in the building and construction industry. Homes and commercial buildings are becoming ever more energy-efficient and environment-friendly, and now we even have buildings that produce their own electricity. Not very long ago many people would have written this off as utopian dreaming. In my view, developments in the area of initiatives and business opportunities, in turn corporate social responsibility have been spurring the creation of new technologies and a key driver behind this green revolution solutions in our industry. After many years in in our industry. These days, corporate the industry, it is exciting to see how this area social responsibility is not only a matter of has developed in recent years. Join me on a contributing to improvements in society, quick look back. but also involves recognising the business potential inherent in the development of eco- CSR in practice friendly solutions, for example. Environmental Although the concept of corporate social challenges have paved the way for new responsibility (CSR) has evolved with time, Corporate Social Responsibility (CSR) report 2012 VEIDEKKE ASA 4 I would say that Veidekke has been aware an enormous demand for homes, schools, of its role in the broader context since its hospitals and infrastructure. In order to be able establishment in 1936. We call this CSR in to meet these challenges, we must maintain practice. In 1945, when Norway was in a and further develop expertise in the building deep recession after the war, corporate social and construction industry and, not least, responsibility was about rebuilding the nation. we must dare to think differently. The social At that time, it was an important overall responsibilities in this area are not the duty of objective for Veidekke – and indeed it still is – companies in the building industry alone, but to act with integrity and to do the right thing. must be borne by the whole of society. Through the 1960s and 1970s, we were one of the first companies in Norway to offer our As already mentioned, HSE and environmental employees the opportunity to become co- concerns will be two main priority areas for owners of their own company. Today, 50 per Veidekke in the years to come. If developments cent of Veidekke’s employees own shares in in the environmental field continue at their the company, which is unique in Europe. We current pace, in ten years almost 10 per cent are convinced that by involving our employees of buildings will produce and deliver energy. in this way we are nurturing increased loyalty An important prerequisite for that to happen and commitment to the company and ensuring is that our customers too recognise the long-term value creation for the company and importance of this and are willing to make our shareholders. investments that yield long-term benefits. Another important decisive factor is the The late 1980s and early 1990s brought a people in the organisation and that they new focus on occupational health, safety have the opportunity to develop. Training and and working environment issues (HSE), and professional development will therefore also Veidekke was then – and still aims to be – a be an important focus area for Veidekke in the pioneer and leader in this area. Over the last future. We at Veidekke will do our utmost to twenty years we have witnessed a marked ensure that training and skills development improvement in our health and safety record, among new recruits and other employees which is very gratifying. However the building remain a top priority. At the same time, we are and construction industry remains a high-risk seeing that the increasing internationalisation business, and we work every day to improve of the building and construction industry is in this area. Through the Next Generation creating new challenges, primarily in terms of HSE programme, we have set ourselves an language and cultural differences. Therefore, a ambitious and important goal of preventing continued clear focus on ethics, occupational four out of five injuries by 2015 and no fatalities health and safety will be very important in the on our sites. A main goal for the building and years ahead. construction industry as a whole must be zero injuries in the future. But let us return to the topic of homes and buildings that produce their own electricity The 2000s saw a serious focus on global in the future. Today CSR is not only a matter environmental challenges, and Veidekke was of ethics, health and safety, and employee a pioneer in developing energy-efficient and involvement, it is also a source of innovation environment-friendly homes and buildings. In and new ideas. In recent years we have seen Norway, buildings currently account for 40 per numerous of examples of how challenges cent of all energy consumption, 40 per cent of facing society, not least in terms of the all materials used, and about 13 per cent of the environment, have led to new solutions and country’s total CO2 emissions. There is little products developed in partnerships between doubt that the industry has an important social research institutes and industry. When exactly responsibility in this area, a responsibility that power-generating homes and buildings will we at Veidekke take very seriously. A good be the norm here in Norway I will not try to example of this is our environmental project in predict. What I do know is that Veidekke will Esbjerg in Denmark. Here we are developing continue its corporate social responsibility Denmark’s largest energy-positive building, work unabated – whatever the future brings. which will have the country’s second-largest solar energy plant on its roof. In Stockholm, we completed the Nordic region’s first Swan- labelled residential block in 2011. CSR into the future It took Norway 37 years to grow from 4 million Terje R. Venold, President and CEO to 5 million inhabitants, but it will only take us 18 years to go from 5 million to 6 million. This rapid population growth will create Corporate Social Responsibility (CSR) report 2012 VEIDEKKE ASA 5 CSR Governing documents Veidekke has established a number of guidelines and models that govern the company’s behaviour in society, and the company works continuously to improve and implement these throughout the entire organisation. Veidekkehuset (“the Veidekke House”) is partnerships with our customers, employees, our management and behaviour model and management and suppliers – and with the symbolises our corporate culture. It helps communities in which we operate. define the direction of our daily work, including our work on CSR. In Veidekke ethics consists of four main elements: • Our individual and collective responsibilities • A focus on transparency, dialogue and discussion • Consistency in our work • Specific programmes for ethical guidelines and rules Veidekkehuset and ethical guidelines Ethics is included in Veidekke’s introductory Our core values – professional, honest, courses, project courses, management enthusiastic and ground-breaking – form development training and other courses and the foundation for how we work every day, gatherings. We also have an interactive ethics regardless of the type of work. portal for our employees – the Ethics Portal Another important element in Veidekke’s Veidekkehuset – through which we provide corporate philosophy is value-creating training and guidance for dealing with ethical Corporate Social Responsibility (CSR) report 2012 VEIDEKKE ASA 6 dilemmas. We work continuously to maintain • OECD Guidelines for Multinational the high level of focus on ethical dilemmas Enterprises – As early as 1976, that we have managed to achieve in Veidekke. the OECD prepared guidelines for As a major purchaser of goods and services, multinational enterprises and has Veidekke has ample opportunity to influence thus been a pioneering institution in our suppliers to work more systematically on corporate social responsibility. Veidekke’s their corporate social responsibility. All our commitments contribute to sustainable suppliers must now commit to following our development through economic, safety and environmental regulations. They environmental and social progress. must also ensure that any subcontractors they Read more about the guidelines here. use follow the same standards. The ongoing development of our procurement principles • The UN Universal Declaration of Human will continue in 2013. We have already Rights – This means that no one should developed a policy for purchasing goods and be discriminated against due to race, services from abroad, which mainly covers sex, language, religion, political or the use of sub-contractors, but also covers other opinion, national or social origin. individual purchases from abroad such as from Read more about the declaration here. our regular kitchen products supplier in Italy. Veidekke uses the third generation and Good corporate governance is a key part of a currently most recent version of the company’s accountability. Veidekke bases its internationally recognised GRI standard (Global management reporting on the Norwegian Code Reporting Initiative) to organise our work on of Practice for Corporate Governance. As part CSR. In the development of relevant goals, we of our efforts to integrate social responsibility have also used the new ISO standard on social into our core business, important social and responsibility, ISO 26000.

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