In this Sustainability Report, we aim to report on the risks and opportunities deemed most important to StatoilHydro's long-term value-creation potential.
That is why the overall theme of this year's report is Going north for growth, with its emphasis on the technologically, environmentally and socially complex decisions and strategies involved in continuing to meet the world's growing energy needs.
We believe that sustainability reporting and the disclosure of risks and opportunities ensures greater consistency and predictability in our performance, and this is a key ingredient in building the understanding, trust and integrity needed to succeed in our industry.
The material in this report has been selected on the basis of:
- Continuous dialogue with relevant stakeholders
- Prioritisations by executive and management staff in addition to employees who work on sustainability issues on a daily basis
- A media attention analysis
The key sustainability issues raised in consultations with our stakeholders included access to new resources, our search for talent and human capital, the global climate challenge and our strategies for addressing these issues, and the importance of demonstrating integrity and transparency in our industry. For further insight into our stakeholder involvement, please consult the section Engaging our stakeholders.
We are confident that the selection process is in accordance with procedures for determining materiality, and that the material presented in this report gives a balanced and relevant picture of our approach to sustainability.
We have limited the reporting to our business areas (BAs): Exploration & Production Norway, International Exploration & Production, Natural Gas, Manufacturing & Marketing, Technology & New Energy, and Projects, as they all generate significant impacts in terms of sustainability. Our reporting does not focus on the various subsidiaries, suppliers, joint ventures or leased facilities.
Failure to disclose information about a Global Reporting Initiative (GRI) parameter in this report normally indicates that the matter in question is irrelevant to our organisation, or that such information is not available as of today.
Should you be interested in more information about StatoilHydro, please consult the StatoilHydro Book. It can be downloaded from the Sustainability Report on the web. We have asked Ernst & Young (EY) to perform an external verification of this report.
