In StatoilHydro, we are committed to the zero harm philosophy. We make decisions based on how they affect our interests and the interests of society around us.
We therefore aim to understand and manage social risks by assessing needs and expectations, reducing and mitigating harmful impacts on the communities affected by our operations and on our own business, and identifying development opportunities relevant to our operations.
All our operations and investment decisions are also subject to a rigorous process of integrity due diligence, integrity and social risk management (in addition to broader health, safety and environmental risks), impact assessments and stakeholder dialogue and consultations.
We also follow up the execution of our activities and measure the effects of our actions, both internally and externally. See the following examples for more information about our activities to mitigate social impact in Brazil, Iran, Nigeria and Venezuela.
In 2007, in collaboration with partners and fellow members of the World Business Council for Sustainable Development, we developed a framework for measuring the impacts of our core activities. In 2008, we will be piloting the framework to ensure better documentation of the indirect and direct impacts of our business and to improve the basis for engaging in dialogue with host countries and other stakeholders about their development needs, aspirations and expectations.
In 2007, we also developed a human rights risk assessment tool which was piloted in five countries in which we operate. We also revised our procedures for integrity due diligence, which, from 2008 onwards, will ensure improved human rights and integrity risk screening of investment agreements and of all potential suppliers.
