How we make an impact
This decade will be defined by transformations. Digital technologies will increase exponentially, and our energy, food, healthcare and transport systems will all change immensely. Most importantly, this is the decade where humanity will succeed or fail to deliver on the Sustainable Development Goals (SDGs).
Our purpose is ‘to safeguard life, property and the environment’. It has guided us since our foundation in 1864 and is as relevant today as it has ever been.
Driven by our purpose, and in line with our vision, we advise our customers on how to tackle the global transformations ahead, navigating the fundamental changes that will affect them and the industries we work in.
Our extensive research feeds into how we develop our products and services and how we advise our customers on the risks and opportunities that they face. We foresee a rapid energy transition within a generation. Massive electrification of the global energy system, huge growth in renewables, and new technologies and solutions will deliver fundamental changes that will affect DNV and our customers.
Through 2020, we engaged broadly within and outside DNV to develop a new five-year strategy (see graphic). We forecast how the transformations ahead will affect our core markets and, in response, our strategy has been revised to keep DNV at the forefront of these changes so we remain a trusted voice for our customers. Alongside this clear market focus, the strategy has customers, our people and sustainability at its core, and is underpinned by clear growth and financial goals to support our strategic objectives.
The strategy formalizes our customer-first approach, ensuring we deliver superior customer experience by always being proactive and responsive. Our objective is to enable our customers’ aspirations by delivering services that truly meet their needs, helping them to solve problems and make the most of their opportunities. Our people provide the knowledge and technical expertise that allow DNV to assure, set industry standards, advance safety and sustainability, and guide on risks and opportunities in a changing world. Our strategic focus is on our people’s career paths and development, diversity and inclusion, and purpose-led and future-fit leadership.
The coming decade is known as the Decade of Action for sustainability, and particularly the SDGs. With our customers and partners, we will make a positive impact on our priority SDGs and work towards the 1.5°C target of the Paris Climate Agreement.
Our key stakeholders are our customers, our employees and our owner, Stiftelsen Det Norske Veritas. Other stakeholders include suppliers, research institutions, government bodies, industry associations, civil society organizations, and the media.
We engage with internal and external stakeholders to understand their thinking and concerns on a range of business and sustainability issues. In developing our new strategy, we consulted more than 400 employees, interviewed key customers and sought input from our Board, our Council members and a selection of independent experts to identify the economic, social and climate risks, opportunities and impacts that are most important to DNV and our stakeholders. The results have also fed into how we develop services and adapt our business to meet the needs of our stakeholders.Open All Close All
Our materiality assessment (last completed in 2018) was based on a wide-ranging stakeholder survey designed to identify the sustainability topics our customers, suppliers, partners, employees and the media consider important. The survey received more than 1,000 responses giving detailed insight into stakeholders’ views. We plan to conduct a new materiality assessment in the near future. Our important topics are outlined below and covered in detail in the sustainability performance section.
Responsibility for sustainability performance lies with our Group CEO. The Board Audit Committee maintains oversight and our Corporate Governance Report describes how this is managed.
DNV reports in accordance with the core option of the GRI Standards. KPMG has conducted limited assurance of our sustainability reporting and feedback is used to continuously improve our performance.
The greatest positive impact we can have on sustainability is through the expertise and services we provide to customers. We contribute to the SDGs through our business activities and our strategy defines four priority Goals where we feel we can contribute the most and have the largest impact. These are:
- SDG 3: Good health and well-being
- SDG 7: Affordable and clean energy
- SDG 13: Climate action
- SDG 14: Life below water
Business solutions that support these goals include those covering hospital safety and efficiency, healthcare, renewable energy, safe and sustainable industrial operations and infrastructure, technology innovations, maritime solutions and clean shipping, and climate change mitigation and adaptation. The sustainable innovation examples from across DNV show some of the ways we work with customers to enhance sustainability and support the SDGs.
Over the next five years, we will identify the products and services that make a measurable positive impact to our priority SDGs and set goals to increase our impact.