A renewed purpose and a commitment to transparency
As an energy technology leader, it is crucial for Baker Hughes to model leadership in ESG performance for our industry. Building on strong progress in 2018 we’ve made a number of fundamental improvements to the way we are governing, advancing, and reporting ESG performance. We are taking a more strategic, rigorous approach to this important priority
Expanding leadership engagement
Engaged executive leadership is a key component of ESG performance. We have expanded our leadership engagement in the oversight of ESG issues. Our expanded ESG Steering Team includes a broad cross section of leadership from across the company, with working groups assigned to implement program improvements throughout the year.
Committing to United Nations principles
Baker Hughes became a signatory of the UN Global Compact, the world’s largest sustainability organization. We are committed to the United Nations principles on human rights labor, environment, and anti-corruption. This year’s corporate responsibility reporting is aligned to the United Nations Sustainable Development Goals.
Identifying material priorities
To improve the impact of our ESG strategy and focus our reporting, we conducted a formal materiality assessment of our ESG issues. You will find a summary of the findings in this year’s report. By engaging with stakeholders including customers, employees, investors, board members, and nonprofits we gained a deeper understanding of ways we can address the most important issues facing the company and the industry.
Aligning with core values
Our strategy and purpose are enabled by our culture, which is built on a strong set of values that guides our behavior. We have refreshed our values and harmonized many of our policies to provide a simple, memorable, and action-oriented way of expressing our culture. They are: grow, collaborate, lead, and care. Our employees embrace and live these values every day, providing the foundation to deliver for our customers and stakeholders today and far into the future.
Leading in talent management
We launched new systems and processes for talent management, learning, recognition, career development, and inclusion and diversity as part of our system integration activities. We expect these systems to enable a more integrated and holistic approach to developing and valuing our people throughout the organization. We relaunched eight global Employee Resource Groups (ERGs) to promote diverse perspectives, networking, and service activities.
As part of our commitment to open and transparent reporting, we have set year-over-year performance indicators that will enable us to demonstrate progress, while enhancing our transparency through more robust and comprehensive data collection and reporting. We have aligned our corporate responsibility report with the United Nations Sustainable Development Goals, and prepared our report in accordance with the GRI-Core standards.
We hope you find this year’s report, informative, and candid. We are committed to stakeholder input and continually improving our processes and programs. If you have questions or comments about our reporting or our approach to ESG issues, I encourage you to reach out to me or a member of our leadership team.
Allyson Anderson Book
Vice President, Energy Transition