Through our governance, we set clear responsibilities for our leaders, employees and partners.
Embedding sustainability in governance and risk management
At Equinor, our approach to sustainability is embedded in how we work. Our sustainability priorities – building a low-carbon advantage, ensuring responsible operations, protecting the environment and creating shared value – are closely linked with our three strategic pillars.
How we work to ensure an integrated approach to sustainability, is reflected in our corporate governance principles, performance and reward framework and management system. These elements are described in the Equinor book, available here.
We are committed in being a leader in the energy transition. We work actively to reduce emissions from oil and gas to maintain our position as industry leading in carbon efficiency, grow significantly in renewables and help society move towards net zero.
Safe and responsible operations are essential for our license to operate and an enabler of long-term value creation. We have set clear targets for continuous improvement of our safety records. We are managing our environmental impact, respecting human rights and promoting integrity and transparency.
We deliver energy to millions of people and create value for our shareholders. Through our core business and supply chain, we create economic value and opportunities for society and communities. We provide jobs, invest in employees’ skills and capabilities and work collaboratively with stakeholders to accelerate action and progress on pressing social and environmental issues in society.
At Equinor, the Board of Directors (BoD) and Corporate Executive Committee review, monitor and discuss safety, security and sustainability issues and risks on a regular basis, while the Chief Executive Officer (CEO) is responsible for the day-to-day management of these areas.
BoD members are elected by the corporate assembly. In addition, there are employee-elected representatives as required by Norwegian company law.
The board’s composition is diverse in terms of background and geography. They have background from oil, gas, renewables, shipping, telecom, politics and climate policy.
The BoD has three sub-committees which act as preparatory bodies.
Assists BoD on terms and conditions for employment of the CEO, and on the philosophy, principles and strategy for the compensation of leading executives in Equinor.
Instructions include achieving goals related to climate and energy transition, and how these goals are a part of the remuneration policies.
Ensures that the group has an independent and effective external and internal auditing system.
Supervises the implementation of and compliance with the group’s expectations, commitments and requirements for ethical conduct concerning financial reporting.