Petoro - a driving force on the Norwegian continental shelf

SDFI and Petoro annual report 2013

Directors’ report 2013

Corporate social responsibility (CSR)

Petoro’s management of substantial assets on behalf of the Norwegian government calls for good corporate governance which fulfils the expectations of its stakeholders and society at large. The presentation of CSR by the company builds on the guidelines for its exercise adopted in 2012, which are tailored to its activities as a licensee on the NCS. CSR embraces the activities voluntarily pursued by the company over and above existing legal and regulatory obligations. Funding for discharging its management duties and for running the company is provided through appropriations from the government, and Petoro has no mandate to provide monetary support for social purposes. 
Measures which ensure that Petoro discharges its CSR include ethical guidelines, openness on money flows and anti-corruption work, the HSE declaration, and diversity and equal opportunities. The board provides a more detailed presentation of the exercise of CSR in a separate section of the annual report.