Materiality and stakeholders

Material topics are defined as those that have, or may have, significant impact on us and our stakeholders.

To determine the importance of our material topics, we consider the global sustainability context, transparency and relevant reporting standards. We also assess actual and potential, negative and positive impact on people, the environment and the economy.

Our material topics

Sustainbility priority

Material topic

Ensuring responsible operations
Health and safety, incl. emergency response
Integrity and anti-corruption
Human rights in the supply chain
Human rights in communities

Protecting the environment
Biodiversity, oceans & sensitive areas
Air emissions, water and waste

Creating shared value
Economic impact (direct and indirect)
Local community impact
Diversity and inclusion
Employment and skills development

Building a lowcarbon advantage
Climate risk and resilience
GHG emissions scope 1&2
GHG emissions scope 3
Supply chain emissions
Renewable energy
Low carbon technologies and carbon sinks
Climate policy engagement

Frequent dialogue with our stakeholders is part of how we conduct our business in an open and responsible way and provides part of the basis for identifying material topics. Key stakeholder groups include employees, shareholders, governments, regulators, business partners and suppliers, customers, local communities, academia, non-governmental organisations and society at large. 

Working with our stakeholders

It is our responsibility to fully understand the expectations of governments and to be aware of our duties. In return, governments should be attentive and foster conditions in which our industry can make the greatest contribution.

We also work with governments and civil society organisations to solve key environmental and social challenges through multi-stakeholder initiatives such as:

Extractive Industries Transparency Initiatives (EITI), the Voluntary Principles on Security and Human Rights (VPSHR), the Global Gas Flaring Reduction partnership (GGFR) and the Climate and Clean Air Coalition (CCAC).

We know that our operations may affect local communities both positively and negatively. To maximise positive impact and mitigate negative impact we focus on:

  • Close dialogue
  • Shared value
  • Local and national development
  • Making ourselves worthy of acceptance and trust.

Our operations make use of public consultations, surveys, interviews, one-to-one meetings and community panels to better understand the expectations from local communities and to devise mitigation strategies and plans that best suit local conditions.

We depend on an open dialogue and partnerships with the broader society to achieve our business objectives and to become a leading company in the energy transition.

We engage with media, non-governmental organisations (NGOs), international organisations and academics and research centres, which may provide specialised expertise on managing impacts.

Some of our collaborations:
UN Global Compact, and a founding partner of the UN Global Compact Action platform for sustainable ocean business. Extractive Industries Transparency Initiative
United Nations Sustainable Energy for All

We work with our peers and partners through bilateral dialogue and industry associations and partnerships. 

We share best practices, our positions and promote sustainable business through the value chain.

Some of our collaborations: Oil and Gas Climate Initiative, IPIECA (the global oil and gas industry association for advancing environmental and social performance), the Subsea Well Response Project (SWRP), World Business Council for Sustainable Development (WBCSD) and the International Emissions Trading Association (IETA).

Through our capital market updates and investor roadshows, we engage and make sure all relevant information is available to the market.

To further improve transparency and efficiency, we make all sustainability related data available here. We listen to and collaborate with the financial community to implement best practices and meet concerns and expectations. This includes reporting in line with the disclosure framework developed by the Task Force on Climate-related financial disclosures.

We engage in dialogue with investor groups like Climate Action 100+ on Equinor’s climate ambitions and strategy. Our policy expectations and a joint statement with Climate action 100+ can be found here.

We ensure wide engagement across different parts of the business and geographies through formal bodies with employee representatives to team meetings. Through townhalls and digital channels including social media, we have an ongoing dialogue with our employees to capture ideas, expectations and concerns.

Our employees are represented at the BoD.