Hitecvision Bilder04

Ocean Installer’s construction support vessel Normand Clipper with its advanced vertical pipelay system and carousel for demanding subsea operations

Environmental, Social and Governance (ESG) Practices

HitecVision believes that when ESG factors are integrated into the investment analysis, decision making, ownership policies and practices it will contribute to potential long-term performance advantages.

How ESG is implemented at HitecVision

HitecVision’s founders have been operating in the oil and gas industry since 1985. Historically, the oil and gas industry in Norway has had a strong focus on Health, Safety, Security, Environment, and Quality (HSSEQ) and HSSEQ has been an integral part of HitecVision’s operations since inception.

HitecVision has a strict investment evaluation and due diligence process which helps to identify potential HSSEQ risks and other ESG issues. HitecVision is convinced that analysis of ESG factors offers added insight into the quality of a company's management, culture, risk profile and other characteristics. By taking advantage of the increased level of scrutiny associated with ESG analysis identifying associated risks and opportunities, HitecVision believes it will be better able to identify companies with superior business models  that are industry leaders, better managed and are more forward-thinking, better at anticipating and mitigating risk, meet positive standards of corporate responsibility, and focused on the long term.

The board of each portfolio company is responsible for defining and implementing strategies and policies, also in respect of ESG matters. Its role thus includes establishing sound environmental and social standards that correspond with the ESG requirements set by HitecVision. Requirements and expectations may vary with respect to ESG issues depending e.g. on the geography and business model of the portfolio company in question. HitecVision supports the boards by providing guidance and tools.

HitecVision’s Responsible Investment Policy

ESG issues can have a material impact on financial performance and the communities in which both HitecVision and our portfolio companies operate. In developing our policy, we have given consideration to a range of codes and standards, including the United Nations Principles for Responsible Investment and the United Nations Global Compact.

The Responsible Investment Policy forms an integral part of HitecVision’s investment process and active owner practices. To ensure that all employees follow the policy, it has been included in the firm’s ethical guidelines that all employees must sign and adhere to.