The agreement covers provisions on freedom of association and collective bargaining rights, discrimination, forced labour, child labour, health and safety, living wages, employment conditions, working hours, HIV/AIDS, environmental issues and skills training, referencing the standards as established by the core labour conventions of the International Labour Organization (ILO).
The agreement relates to all parts of Aker and states that the company will use its influence to secure compliance with the standards set out in the agreement with its subsidiaries and third party business associates, with non-compliance ultimately resulting in potential termination of a contractual relationship.
The signing took place during the Fellesforbundet's executive committee meeting in Oslo on October 28, 2008. During the ceremony speeches about the importance of the agreement were given by ex-IMF general secretary Marcello Malentachhi, Fellesforbundet president Arve Bakke, Aker ASA director of communication Geir Arne Drangeid, and the senior shop steward in Aker Atle Tranøy.
Aker was established in 1841 and today has divided its activities into four market sectors: energy resources, energy technologies, maritime technologies, seafood and marine biotechnology. The Aker companies have a total of 27,100 employees on five continents and operating revenues totalling NOK 62 billion (7 billion Euros) in 2007.