Statoil
gains top ranking for sustainability
Posted: 27 May 2004
Stockbroker Goldman Sachs has placed Statoil third among 23 oil
companies in a survey covering ethics, environmental protection
and social responsibility.
This assessment was carried out in November 2003-February 2004
in compiling the UN-mandated Goldman Sachs Energy Environmental
and Social Index.
The oil companies were assessed on such aspects as environmentally-harmful
emissions and discharges, human rights, safety and openness.
"It is gratifying that we are ranked so high in this report,"
says Rolf Magne Larsen, senior vice president for country analysis
and social responsibility in Statoil. "This shows that we are
on the right track in our work with sustainable development."
Statoil's recently-published Transparency and trust sustainability
report has also aroused interest among international investors.
They are keen to meet the group and hear more about its views on
health, safety and the environment (HSE), ethics and social responsibility.
Mr Larsen and investor relations adviser Lars Troen Sørensen
have recently held meetings with a number of investors in London
and Paris to present Statoil's work in these areas.
"Some of the major investors are interested in us because
they've started to look more closely at criteria of this kind,"
explains Mr Larsen.
"Socially responsible investment has become an established
concept in the international financial market.
"A growing number of investors find it important to identify
a company's expected HSE, ethical and social responsibility results
in addition to their forecast financial performance."
Mr Sørensen adds that Statoil will be holding similar meetings
with investors at regular intervals.
"These meetings are valuable because they give us feedback
about which issues concern people. Investors unquestionably see
us as a leader in HSE, ethics and social responsibility."
For more information see www.statoil.com
Posted by Richard Price,
Editor Pipeline Magazine
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