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Responsible business conduct

The Vår Energi Code of Ethics sets out the rules and standards that apply for all our activities and business relationships. It constitutes a guide in decision-making and action-taking that is consistent with our culture of responsibility, legality, transparency and long-term value creation for all our stakeholders.

During 2022, the Transparency Act came into effect, promoting respect for fundamental human rights and decent working conditions and ensuring the general public access to information regarding how enterprises address adverse impacts on fundamental human rights and decent working conditions. We have updated the related procedures and processes to ensure compliance and reduce the risk of negatively impacting human rights and working conditions.



Anti-competitive behavior

We believe in business freedom and free competition in a fair and ethical manner. Violation of antitrust legislation could expose the company to significant economic losses. Vår Energi Code of Ethics addresses the obligation to comply with competition laws and protect competition in the market. We are committed to comply with applicable competition laws and do not tolerate collusive practices with competitors and do not abuse our market power.

Anti-corruption

We only operate on the Norwegian continental shelf, which reduces the risk of corruption considerably. The likelihood of a corruption risk materializing is thus considered low and with the mitigating measures in place the risk of corruption is not considered to be significant.

Risk assessment is carried out at least annually for all defined compliance areas, including anti-corruption.

Anti-corruption policy.

Climate risks

The Company acknowledges and adheres to the recommendations set forth by the Task Force on Climate Related Financial Disclosures (TCFD) and takes climate risks and opportunities into account when developing strategies and financial plan.

Transparency and compliance are key to high governance standards. We have received solid ratings for our ESG reporting but have a clear ambition to improve both performance and disclosure.


Primary insiders

Name Position / Role Shares per 07.10.24
Nicholas Walker CEO 669 047
Torger Rød COO 259 293
Tone Rognstad EVP People and Communication 63 702
Thorhild Widvey Chairman of the Board 62 142
Stefano Pujatti CFO 50 879
Jan Inge Nesheim Employee board representative 48 431
Liv Monica Bargem Stubholt Deputy Chairman of the Board 41 785
Ellen Waldeland Hoddell EVP Safety & Sustainability  39 258
Hege Susanne Blåsternes Deputy employee representative 32 573
Carl Anders Olof Kjörling Employee board representative 19 368
Sverre B Bjelland EVP Legal and Compliance 18 910
Martha Skjæveland Employee board representative 15 123
Trond Arvid Larsen Deputy employee representative 14 758
Matthieu Marcel Jacques Nicolas Angeli Deputy employee representative 11 635
Hans Erik Kolstrup Hansen Deputy employee representative 10 911
Jann Idar Dillern Johansen Deputy employee representative 10 265
Ole Johan Gillebo Board member 10 000
Finn Volrat Pettersen Deputy employee representative 8 864
Veronica Orvedal-Kiil Deputy employee representative 8 176
Kjersti Aanderaa Deputy employee representative 6 847
Lilli Fagerdal Employee board representative 6 023
Laura Vaiciulyte Deputy employee representative 4 597
Terje Bondhus Deputy employee representative 4 323
Inger Helene Lindheim Deputy employee representative 3 636
Anita Hommedal Deputy employee representative 2 550
Clauida Almadori Board member
Guido Brusco Board member
Fabio Ignazio Romeo Board member
Francesco Gattei Board member
Francesca Rinaldi Board member
Claudia Vignati Deputy board member
Fabio Castligioni Deputy board member
Total number of shares 1 423 096
Notes: The numbers include shares held in companies where the insider has a controlling interest.

Whistleblowing

Our long-term success is built on making business in a fair and ethical manner. This is described in Vår Energi’s Code of Ethics. Vår Energi’s employees and any external parties interacting with us have an important role to play by raising concerns of any suspected or potential breaches of law or company policies.

Examples of such breaches are:

  • corruption or other financial crime
  • harassment and discrimination
  • conditions that could cause danger to people’s life and health
  • failure to meet requirements for privacy and information security
  • abuse of authority
  • a working environment that does not meet the requirements of the Working Environment Act
  • situations that pose a threat to the climate and the environment

A dedicated whistleblower Communication Channel, (WhistleB*) has been set up to ensure confidentiality and to protect the rights of the involved parties.

You do not need proof of your suspicions, but all messages must be made in good faith. Vår Energi will not implement sanctions against anyone reporting in a responsible manner.

“WhistleB ensures the anonymity of the whistleblower. The service is separate from the organisation´s IT environment. WhistleB does not track IP addresses or other data that could identify a person sending a message. Messages are encrypted and can only be decrypted by designated individuals. WhistleB cannot decrypt and read messages.”