Top marks for sustainability reporting

Aker BP receives an A+ rating in Position Green’s annual ranking of sustainability reporting among the 100 largest publicly traded companies in Norway. In total, 14 companies receive an A+ grade, which is the highest rating. “This is an important recognition for the company and for the thorough work we have done over the years,” says Øystein Arvesen, VP for Strategy and Sustainability at Aker BP.

The annual ESG100 report (Environmental, Social, and Governance) is prepared by the renowned consulting firm Position Green and assesses the quality of companies’ sustainability reporting. It evaluates compliance with formal legal reporting requirements and the quality of reporting data.

“Perhaps the most important reason why we score so well in this assessment is that our ESG goals are an integrated and crucial part of the company’s strategy. In our strategic priorities, we have goals directly related to sustainability, safety, and social responsibility,” says Øystein Arvesen.

What makes this year’s ESG100 report special is the focus on how well-prepared companies are for the much stricter rules introduced with the implementation of the EU’s Corporate Sustainability Reporting Directive (CSRD) from 2024. The directive requires systematic work in areas such as corruption, human rights, diversity, in addition to climate and sustainability. There will be stricter requirements for third-party verification of reporting data.

“For many years, we have established a systematic approach at Aker BP to document and measure the impact of our work in these areas. This is important not only to ensure that we are actually improving but also to achieve the goals we set for ourselves,” explains Øystein Arvesen. “We have initiated a project to close the gaps and be ready for CSRD reporting for the fiscal year 2024. This recognition from Position Green is a great motivator in this effort and demonstrates that we not only produce good reports but, more importantly, that we are doing excellent sustainability work at Aker BP,” says Øystein Arvesen.