ENVIRONMENTAL SOCIAL GOVERNANCE
INTRODUCTION
NOS - a valuable collaborator and partner.
NOS`s promise is to be our customers’ partner on their journeys towards sustainability. And we work hard every day to minimize our own footprint. Throughout the value chain, NOS is a partner in reducing risk, enabling sustainability, improving customer performance, and thereby making our industry better.
We support society and our customers on their sustainability journeys.
NOS business areas are:
Equipment Rental, Downhole tools, Fabrication, Assembley and Service, Product Sales, Chemical production, distribution & Sales. NOS can contribute to the challenge of making the energy sector more sustainable. And to deliver solutions to other markets. Including further develop our green chemicals for both industry and consumer market
About ESG in NOS
This ESG report is just a start. We admit that we have a long way to go. But we try harder than we did yesterday. And we will get there. NOS deliver - and will also deliver on ESG.
We will continuously maintain relationships with stakeholders who may influence our business operations and approach to ESG. These stakeholders include partners, customers, research and investment analysts, employees, suppliers, proxy advisors, industry associations and communities.
For questions about how we work with ESG, please contact; Ivar Hognestad, CEO tel. 970 60 660
ENVIRONMENTAL
Protecting the climate and environment
We take our responsibility to the environment seriously and seek to adopt and implement environmentally sound policies in our operations.
We aim to contribute to decarbonising our operations and supply chain – as well as developing resource-sensitive products and services – we continue our active partner role.
Transforming our activities.
The sustainability of our environment is a top priority. We have taken action through our day-to-day operations to implement initiatives that reduce our impact on the environment. We remain committed to continuing to develop, adopt and monitor climate and carbon-related strategies to even further reduce our environmental footprint.
IMPACT
We strive to operate with a minimal environmental footprint, and employees are provided with resources to help them work sustainably.
The impact will be profound, and it has already begun. Fundamental change is now an imperative for most businesses and people, and NOS is one of the players contributing to this change.
SOCIAL
Work equality is not a company catchphrase. We take it seriously. Every day we work with improving our employees. We are not afraid of hiring immigrants or young ones without experience. With us they will gain work experience and we build our cross-cultural skills and awareness.
Responsibility
At NOS, we believe in social responsibility and sustainable development throughout our entire business operation. We want to make a positive impact on the businesses we operate in, and we are committed to integrating general sustainability principles with regard to
HUMAN RIGHTS
WORKER RIGHTS
PROTECTION OF THE ENVIRONMENT
ANTI-CORRUPTION
We seek to create value for customers, employees and society around us in a sustainable way. Every NOS employee is expected to contribute to the integration of responsibility and sustainability principles in their daily work – towards colleagues, customers, suppliers and other stakeholders.
Whistleblowing
At NOS, we encourage employees to raise concerns about critical conditions within the company (i.e. “to blow the whistle”). Critical conditions imply conditions of misconduct, that are contrary to law or other ethical standards, that imply danger to life and health, or other wrongdoing.
Whistleblowing is governed by Norwegian legislation – for instance, §2-4 and §2-5 of the Norwegian Working Environment Act. Pursuant to these provisions, employees have the right to report critical conditions on the part of their employer as long as the notification is justified. Retaliation against those who report concerns is prohibited.
You can raise any concern to NOS manager or the HR Manager. If a matter is brought to the attention of the media or other external channels, it will be expected first to have reported the matter internally or, alternatively, to the relevant authorities.
Employee development - Cultivating corporate culture
Cultivating a welcoming work environment and inclusive culture that allows everyone to feel a sense of belonging, be valued and have the confidence to do great things is of fundamental importance to NOS. We’re a unified team with diverse perspectives, driven by our desire to succeed together.
We recognize the power and tremendous value that unique perspectives bring to our business. Respecting our differences and celebrating those who see the world differently is what makes collaboration, innovation and our success possible. This philosophy is deeply ingrained into our NOS company culture and we are dedicated to creating a workplace where we can all can bring our true selves to work each day.
Employee code of conduct
At NOS, we believe that everything we do in connection with our work will be, and should be, measured against the highest possible standards of ethical business conduct. Our commitment to the highest standards helps us hire great people, develop great solutions and attract loyal business partners.
NO TOLERANCE FOR SEXUAL HARASSMENT
AVOID CONFLICTS OF INTEREST
SHOW RESPECT
ANTI-BRIBERY, ANTI-CORRUPTION
NO TOLERANCE FOR SEXUAL HARASSMENT
Supply chain ethics - Engaging with our Vendor Partners and Suppliers
We expect our vendor partners to maintain the highest standards of business ethics, integrity and respect for human rights and to become familiar with and comply with our policies as outlined in our Partner Guide. We also expect vendor partners to operate their businesses in compliance with all applicable laws and to maintain lawful environmental, health and safety practices that meet or exceed all applicable laws and standards, as outlined in our Position on Human Trafficking and Slavery.
NOS code of conduct
The Supplier is to hold and maintain at all times the NOS Code of Conduct addressing human rights, worker rights, the environment and corruption.
The Supplier must acknowledge NOS’s Code of Conduct in all new contractual arrangements. The Supplier must do this by signing the NO Compliance Letter.
The Supplier is obligated to communicate the contents of Compliance Letter to related entities and subcontractors who support the Supplier in supplying goods, works or services on behalf of NOS. This will ensure that subcontractors conduct their business in accordance with the Code of Conduct.
If requested by NOS, the Supplier must provide evidence and confirmation of its compliance with the Compliance Letter, including by providing documents and records in support of its compliance.
GOVERNANCE
We are committed to the long-term success of NOS as well as of those we serve through strong corporate governance and ethical business practices. Every day, we strive to operate as a disciplined, trustworthy and moral organization.
Policies
NOS considers good corporate governance to be a prerequisite for value creation and trustworthiness and for access to capital. In order to secure strong and sustainable corporate governance, it is important that NOS ensure good and healthy business practices, reliable financial reporting and an environment of compliance with legislation and regulations.
The NOS Employee Code of Conduct sets out principles for how business should be conducted. References to more specific policies are included in the Code (which can be found in the Employee Handbook) with its corporate governance policy where relevant. The NOS governance regime is approved by the company’s board of directors.
At NOS, we believe that everything we do in connection with our work will be, and should be, measured against the highest possible standards of ethical business conduct. Our commitment to the highest standards helps us hire great people, develop great solutions and attract loyal business partners.
Human rights, labour rights, the external environment and anti-corruption are important, and our focus is on ensuring that projects have sound and good practices and that our suppliers are subject to ethical and environmental requirements.
NOS is incorporated and registered in Norway and is subject to Norwegian law.
Risk management
At NOS, a comprehensive approach to risk management ensures that we have the structures in place across our business to address relevant risks.
Our focus on mitigating risk in all parts of our operations ensures that we have the capabilities and processes in place to identify, quantify, monitor and report risk. There will also be a Risk Management Framework in place in the near future to handle risk even more effectively in an ever-growing organisation.
Data protection, cybersecurity, people management and
responsible business practices can have an immediate operational impact and are therefore treated as operational risks. Long-term challenges such as pollution and lifestyle risk factors impact the health and well-being of people across our markets and are viewed as insurance risks given their potential impact.
NOS recognises that long-term ESG risks – such as climate change and more – can have a far-reaching impact on our markets and require concerted efforts from business, government and the general public alike.
A key element in the effective management of risk, including ESG risk, is a strong and resilient culture, including how an organization behaves when it encounters opportunity and manages risk. Strong risk awareness is a part of the NOS DNA.
Our Operating Philosophy and Code of Conduct further outline our expectations of professional conduct, identifying risk behaviors and channels for reporting potential risks. Frequent training and internal communications ensure that all employees are familiar with appropriate reporting issues.
Quality policy
NOS is delivering a dynamic one-stop-shop philosophy. Supplying equipment, services and chemicals to all markets.
As a professional organization delivering products and services to a wide areas and industry, quality is the core of all business activities at NOS. NOS aims to be a market leader and is committed to provide reliable products and best services to our customers.
We establish our Quality Management System as per the ISO xxxxx requirements and best practices.
We are committed to comply with regulations, legislations and codes of practice relevant to the industry in which we operate.
We work closely with our contractors, suppliers and partners to ensure quality delivery of their services.
We set up meaningful quality objectives and ensure all personnel understanding and contributing to the achievement of the objectives.
All personnel within NOS are responsible for the quality of their work. We attract talent, build competence and prompt a healthy and friendly work environment to motivate our staff and maximize their contribution to the quality of our products and services.
We strive to continuously improve our products, services and processes, and encourage our personnel to contribute to continuous improvement.
For questions about how we work with ESG, please contact; Ivar Hognestad, CEO tel. 970 60 660