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“Through developing profitable business and active engagement with local communities, we aim to ensure that our business practices contribute to long-term economic and social development. We will work with government and civil society to define roles and responsibilities for social development.” HYDRO’S SOCIAL RESPONSIBILITY DIRECTIVE Local content An important element of sustainability is to involve the local community as much as possible in projects and operations. This stimulates the local economy and contributes to a viable society. When Norway was developing as an oil nation, the use of local suppliers and contractors was of major importance. This created employment also outside the direct oil activities and has led to innovation and an internationally competitive supplier industry. With this in mind, Hydro has initiated a supplier survey in Northwest Russia, with the aim of having a qualified supplier industry in this region when it is time to develop oil projects in the Barents Sea. We know from Norway that this is a long-term and demanding process, but indeed rewarding for the local society. 15
16 Sustainability Social projects in Angola When oil companies gain access to natural resources in a developing country, contributing to sustainable development of the country is an important challenge. The development of a viable and competitive oil industry is in itself a major contribution, but it does not create a great deal of employment. The revenues do not always benefit the people and the operations often take place in remote areas far away from the communities themselves. Hydro’s approach in Angola is an effort to increase the country’s capacity to be self-sufficient through transfer of technology, education and community development. Hydro has been doing business in Angola since the early 90s. Our most important exploration project so far relates to the so-called Block 34, where Hydro is technical assistant to Sonangol, the state owned oil company. Hydro also has interests in other blocks. Community investments and other social projects are financed both by annual allocations related to the various blocks and by contributions direct from Hydro. These projects cover a variety of areas: community development such as health improvement measures and construction of schools, rehabilitation of children traumatized by the war, institutional support to develop government agencies, assistance to environmental associations, and provision of scholarships to university students from low-income families. Based on a cooperation agreement between Hydro and Sonangol, a comprehensive management and technology transfer was set up to help Sonangol become a competent and competitive offshore deep-water operator by international standards. This cooperation agreement included two major social projects financed mainly with funds from the signature bonus paid by Hydro for Block 34, which is a better targeted application of the bonus than cash payment to the government.
Page 1 and 2: Designed and produced by: Hydro Med
Page 4 and 5: Dear Hydro Colleague Our Hydro cult
Page 6 and 7: Introduction Invitation to a Dialog
Page 8 and 9: "This publication is another step t
Page 10 and 11: This chapter gives an outline of th
Page 12 and 13: “Hydro supports the principles se
Page 14 and 15: Dilemmas: You are a Hydro manager,
Page 18 and 19: Dilemmas: Hydro is about to establi
Page 20 and 21: “Hydro will not discriminate on t
Page 22 and 23: Dilemmas: In some Muslim countries,
Page 24 and 25: “We are prepared to enter into an
Page 26 and 27: “Hydro shall maintain high standa
Page 28 and 29: Dilemmas: Looking for business oppo
Page 30 and 31: Corporate social responsibility cal
Page 33 and 34: 32 CSR in the business planning pro
Page 35 and 36: 34 Development of social knowledge
Page 37: 36 The Hydro experience in Utkal, I
Page 40 and 41: It is important to obtain social kn
Page 42 and 43: Suggested approach 1. Make a strate
Page 44: CSR and Business Relations Companie
Page 47 and 48: 46 CSR in Strategy, Business Planni
Page 49 and 50: 48 Resources The Hydro Social Respo
Page 51 and 52: 50 Appendix 1 Hydro’s Social Resp
Page 53 and 54: 52 Appendix 2 Hydro's Code of Condu
Page 55 and 56: 54 Appendix 2 Hydro's Code of Condu

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