Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Health and Safety
• Responsible Supply Chain
• Human Rights
• Diversity and Equal Opportunity
• Anti-corruption and Bribery
• Energy Management
• Talent Attraction and Retention

Environmental Achievements

• 23% of front-end engineering studies related to energy transition projects (compared to 11% in 2019)
• 24% decrease in carbon dioxide emission intensity to 568 metric tons per million worked hours

Social Achievements

• Increased percentage of female leadership from 22% to 24%
• Established a Learning Center in Yenagoa, Nigeria for Human Capacity Development Training
• Completed construction of the Viana Controls Refurbishment Technology Center in Luanda, Angola

Governance Achievements

• Expanded Business Integrity and Compliance (BIC) function to cover personal data protection and supply chain compliance
• No criminal action related to corruption faced by Aker Solutions or any employee in 2020

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting operations and initiatives
• Market volatility negatively impacting operations
• Merger with Kvaerner requiring integration of reporting and data
• Reduced activity levels due to the pandemic affecting self-assessments and audits

Mitigation Strategies

• Immediate action taken to ensure employee health and safety
• Structural and strategic changes to transform the company for sustainable energy markets
• Collaboration with customers and authorities to establish virus precautions
• Digital events and refocusing of charitable efforts
• Production of face shields for local hospitals and donations to local societies

Supply Chain Management

Supplier Audits: 21 external audits conducted in 2020 (out of 110 planned)

Responsible Procurement

• Adherence to Aker Solutions' Code of Conduct, including standards for health and safety, human and labor rights, environment, quality management, business integrity, and corporate social responsibility

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather, floods, drought
• Changes in natural resources (water scarcity)

Transition Risks

• Carbon tax, energy regulations, product efficiency regulations
• Lawsuits from parties who suffer damage
• Change in consumer and investor behavior
• New production models

Opportunities

• Development of low-carbon solutions for oil and gas operations
• Renewable energy solutions for offshore wind, CCUS, and other emerging markets

Reporting Standards

Frameworks Used: GRI Standards: Core Option, CDP, TCFD, UN Global Compact

Certifications: ISO 14001, ISO 45001

UN Sustainable Development Goals

• Goal 7: Affordable and clean energy
• Goal 13: Climate action
• Goal 14: Life below water

Aker Solutions supports the UN Sustainable Development Goals (SDGs) and prioritizes those where it believes it can have the most impact.

Sustainable Products & Innovation

• Low-carbon solutions for oil and gas
• Renewable energy solutions (offshore wind, CCUS, hydrogen production)

Environmental Metrics

ESG Focus Areas

• Climate change
• Health, Safety and Well-being
• Human Rights
• Human Capital
• Diversity and Equal Opportunity
• Responsible Supply Chain
• Anti-corruption and Bribery
• Data Privacy and Security
• Emergency Preparedness

Environmental Achievements

• Reduced global scope 1 & 2 emissions to 31,100 metric tons CO2e in 2021 from 63,000 metric tons CO2e in 2019.
• Achieved 61% renewable energy share in global energy usage in 2021 (compared to 49% in 2020).
• Recycled approximately 71% of waste generated (26,158 metric tons) in 2021.

Social Achievements

• Achieved 306 Zero Days (days without a recordable injury) in 2021.
• Launched a stand-alone Human Rights Policy.
• Conducted business integrity awareness training including human rights topics to selected key suppliers in Malaysia and Angola.

Governance Achievements

• Launched a new Code of Conduct in 2021.
• Conducted risk-based human rights supplier audits in Angola.
• Improved CDP Climate Change Score from C in 2020 to B in 2021.

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to the COVID-19 pandemic and increased freight costs.
• Ongoing legal proceedings in Malaysia related to allegations of providing incorrect company information.
• Scope 3 emissions screening is underway, but comprehensive data is still being collected.

Mitigation Strategies

• Developed alternative sourcing strategies and optimized freight routes to reduce emissions.
• The company fully supports the managers involved in the Malaysian legal proceedings and considers the charges groundless.
• Building a data system to capture comprehensive information on scope 3 emissions.

Supply Chain Management

Supplier Audits: Risk-based audits conducted; 3 human rights audits in Angola in 2021; IDD focused on human rights performed on all suppliers for a specific project.

Responsible Procurement

• Supplier Declaration requiring adherence to business ethics, Code of Conduct, standards for health and safety, human and labor rights, environment, quality management, business integrity, and corporate social responsibility.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather, flooding

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products and services; growth in renewables and energy transition solutions.

Reporting Standards

Frameworks Used: GRI Standards, CDP, TCFD, Euronext guidance on ESG reporting

Certifications: ISO 14001, ISO 45001

Third-party Assurance: LRQA Group Limited

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 13 (Climate Action)
• Goal 14 (Life Below Water)
• Goal 3 (Good Health and Well-being)
• Goal 5 (Gender Equality)
• Goal 8 (Decent Work and Economic Growth)
• Goal 12 (Responsible Consumption and Production)
• Goal 16 (Peace, Justice and Strong Institutions)

Aker Solutions supports the UN Sustainable Development Goals; KPIs and targets hold leadership, managers, and employees accountable for sustainability.

Sustainable Products & Innovation

• Offshore wind solutions, CCUS technologies, hydrogen facilities, subsea gas compression, decommissioning and recycling services.

Awards & Recognition

• Paraná Climate Seal

Environmental Metrics

ESG Focus Areas

• Sustainability
• Human Rights
• Compliance
• Climate Change

Environmental Achievements

• Not disclosed

Social Achievements

• Annual mandatory code of conduct certification course for employees
• Established a human rights committee

Governance Achievements

• Launched a robust Enterprise Risk Management improvement program
• Integrated the previously independent processes into a cohesive framework

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI, CDP, TCFD, UN Global Compact, EU’s Corporate Sustainability Reporting Directive (CSRD), Euronext guidance on ESG reporting

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Aker Solutions’ strategy supports the UN Sustainable Development Goals

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed