We incorporate strong governance practices
Our principles performance snapshot highlights our biggest achievements from the past year.
Read more on our principles performance snapshot HERE.
Acting with integrity
- 97.5% of employees completed our annual Code of Conduct training.
- We encourage our employees, contractors and stakeholders to report concerns through our Compliance and Ethics website.
- We are committed to upholding high HSE standards to protect our people's physical and mental well-being.
- We had 1,707 audit red flag findings; 95% of these findings were closed within 90 days.
- 100% of our enterprise security personnel received training on human rights in 2023.
We are well governed
- Our Board of Directors received Sustainability-specific training, enhancing their knowledge and understanding of ESG topics.
- 100% of our operations across both business segments were assessed for risks related to compliance.
- Sustainability Support Center received approximately 600 requests, an increase of 48.5% YOY for topics including ESG management, social risks, GHG emissions, emission reduction initiatives and supply chain.
Focused on safety
- Average hours of HSE training for employees increased by 17.0% YOY
(5.3 to 6.2). - 199 Perfect HSE days.
- Over 1.4 million safety observations completed.
- Our Total Recordable Incident Rate was 0.28 for 2023.
We are committed to delivering on our corporate strategy ethically and sustainably to instill trust in our employees, customers, shareholders, and local communities. To deliver on this promise, we must be transparent in the challenges we face and how we mitigate them.
In order to drive a culture of transparency and integrity, our people are our compliance champions.
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The Board of Directors for Baker Hughes Company sets high standards for the Company's officers, directors and employees, to do the right thing beyond compliance.
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We are committed to acting responsibly and promoting a healthy, secure, and respectful environment for our people, customers, partners and communities in which we operate.
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Baker Hughes is part of a broad global supply chain and we aim to ensure the suppliers we work with adhere to high standards. We ensure that the suppliers we work with adhere to our high standards.
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Supporting workers' health
Health and safety is not just about the physical well-being of our workforce; we also strive to improve total well-being and reduce the potential for psychosocial risks and embed human performance principles in how we work. Our culture is comprised of many layers including robust training, regular engagements with leadership, open and transparent reporting and governance. We embrace a learning mindset to drive continuous improvement.
Bridget Todd, Enterprise HSE Leader
Our HSE Management System
Our HSE Management System is an enterprise-wide framework that drives continuous improvement in performance and compliance across our operations.
Our HSE Management System and respective policies and procedures are certified by the recognized ISO certifications, ISO 14001:2015, Environmental Management Systems and ISO 45001:2018 Occupational Health and Safety. Depending on the business needs, for key operations, we hold individual or multi-site certifications to these standards.
87
sites that were ISO 14001 certified for environmental management systems
65
sites that were ISO 45001 certified for occupational health and safety management systems
238
sites that were ISO 9001
Providing support for our stakeholders
As we continued to better understand our customers’ needs and meeting the increasing demand for verified ESG data, we continuously focus on enhancing our Sustainability Support Center (SSC) since its establishment in 2021. The SSC is our one-stop-shop for our internal employees to fulfill customer requests.
Through our SSC, we provide investor-grade data to drive quality decision-making, enable collaboration with our customers and reduce risk within the Company.
Human rights policy
Human rights are fundamental rights and freedoms to which every individual is equally and inalienably entitled. We recognize human rights as a universal obligation to uphold and a core principle to our business practices. As a signatory of the UN Global Compact (UNGC), we are committed to advancing the Ten Principles of the UNGC and the SDGs.
Our Human Rights Policy applies to all employees, business partners, vendors, suppliers, and contractors. This policy is informed by the UN Guiding Principles on Business and Human Rights and our Code of Conduct. It is supported by a framework of policies and guidelines, setting forth the expectations that we do what is right and safe, considering the well-being of our people, suppliers, customers, communities, and environment.
Principles spotlights on progress
Find more information about how we are aligning with UN SDGs HERE:
UN SDG TARGET 8.7
Supply chain and human rights
We identified a human rights program lead and a multifunctional human rights working group to guide the operationalization of our human rights program. We further developed processes for recording and monitoring the resolution of human rights grievances.
UN SDG TARGET 16.5
Anti-corruption
100% of our operations were assessed for risks related to compliance, including risks from corruption. Relevant risks identified as part of the risk assessment process include bribery and corruption risks within our value chain. Read more on page 108 of our Corporate Sustainability Report.
Data privacy and cybersecurity
We take cybersecurity and data privacy seriously. We respect the rights to data protection and privacy. We are following the evolving industry best practices, to safeguard our systems, data & intellectual property, with our internal adoption of generative AI tools and services.
Our executive leadership is actively engaged in the oversight of our cybersecurity and digital trust compliance programs. The executive leadership-level committees provide oversight and strategic direction for cybersecurity and digital trust compliance programs and our risk mitigation efforts.
Incident reporting and management
Employees and stakeholders can report cybersecurity threats, data privacy incidents, or other concerns through external and internal reporting channels.
Cybersecurity
We leverage the United States National Institute of Standards and Technology cybersecurity framework to drive strategic direction and maturity improvement.
Privacy and Digital Trust Compliance
Our Global Digital Trust Compliance Program seeks to ensure that business and personal information is protected and handled.
Product security
We utilize ISO and IEC standards to guide our software development lifecycle and to implement, maintain, and continually improve our policies and standards.
For more information
Click on one of the links below to learn more about our Principles:
Sixth Amended and Restated Bylaws