At Equinor, our approach to sustainability is embedded in how we work. This includes our corporate governance principles, performance framework and management system. These elements are described in the Equinor book, available here.
The Corporate Executive Committee and Equinor ASA Board of Directors (BoD) review and monitor sustainability issues, including climate-related business risks and opportunities and climate and sustainability aspects related to investment decisions.
The BoD Safety, Sustainability and Ethics Committee assists the BoD in its supervision of the company’s sustainability policies, systems and principles. This includes regular reviews of sustainability risk issues and sustainability performance and review of the sustainability report.
The Corporate Risk Committee, consisting of leaders representing business areas and corporate functions, regularly oversees enterprise risk, including climate-related risks. The committee reviews and proposes mitigating measures as part of regular risk updates to the chief financial officer, the corporate executive committee and the board of directors.
Corporate functions responsible for sustainability-related issues include safety and security, sustainability, people and leadership and legal. The heads of these functions are responsible for setting strategic direction and reporting on risk and performance at group level within these topics to the corporate executive committee and board of directors, including relevant committees.
The Corporate Sustainability Function is responsible for overseeing climate change (including climate-related risk), environment, human rights and social issues, and the function head reports to the executive vice president for Global Strategy and Business Development. The Corporate Safety Function is responsible for safety, security, health and work environment, and the function head reports to the chief operating officer. The Chief Compliance Officer is responsible for business ethics and compliance and reports to the senior vice president for Legal.
Executing the company’s sustainability ambitions is a business line responsibility, and sustainability issues are regularly discussed by the Corporate Executive Committee.