Viability performance reporting the hydro way
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Viability performance – reporting The Hydro Way. Presented by Kirsten Margrethe Hovi 2008 June 3 rd. The Hydro Way. Building businesses that matter A passion for social commerce Always looking for commercial solutions Making the most out of what’s available.

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Viability performance – reporting The Hydro Way

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Viability performance reporting the hydro way

Viability performance – reporting The Hydro Way

Presented by Kirsten Margrethe Hovi

2008 June 3rd


The hydro way

The Hydro Way

Building businesses that matter

A passion for social commerce

Always looking for commercial solutions

Making the most out of what’s available

Hydro’s mission is to create a more viable society by developing natural resouces and products in innovative and efficient ways

Courage

Respect

Cooperation

Determination

Foresight

Our institutional talents

Our mission

Our values


The hydro way1

The Hydro Way

Vi skaper virksomheter og produkter som betyr noe

Vi er opptatt av samfunnsbevisst forretningsdrift

Vi er alltid på jakt etter godekommersielle løsninger

Vi får mest mulig ut av det som er tilgjengelig

Hydros formål er å skape et mer livskraftig samfunn gjennom nyskapende og effektiv utvikling av naturressurser og produkter

Mot

Respekt

Samarbeid

Målrettethet

Framsyn

Våre talenter

Vårt formål

Våre verdier


Background

Background

  • First environmental report in 1989

  • From 1999 the non-financial reporting was published as a separate chapter in the annual report

  • Introduction of The Hydro Way and demerger of Yara in 2003 identified a need for renewed and more systematic reporting

  • From the annual report 2004, we have strived for an integrated approach – based on The Hydro Way


More than environment

More than environment …

  • Environment

  • Safety

  • Security

  • Health and work environment

  • People development

  • Organisation including restructuring

  • Integrity

  • Human rights

  • Innovation

  • Corporate governance


Why report

Why report?

  • Document internally and externally responsible business practice

  • Give investors and analysts the information they need

  • Inform and assure relevant stakeholders

  • Attract the right people

  • Create pride and confidence in the organisation

  • Emergency preparedness


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Important standards

Important standards

  • Global Reporting Initiative

    • GRI Index included since 2003

    • Organizational stakeholder since 2004

  • UN Global Compact’s Progress Report

    • Member since 2000

  • AA1000 Assurance Standard

    • Since 2004

    • Auditor’s recommendations published for the first time in 2007


And more than the annual report

And more than the annual report …

  • Dow Jones Sustainability Index

    • Listed every year since 1999

    • Listed as number 1 in the Aluminium and Basic Resources since 2006

  • FTSE4Good

    • Listed every year except one since the start in 2000

  • Storebrand Best in Class

  • Ethibel Global Pioneer

  • Carbon Disclosure Project

    • Listed every year since the start in 2003


Other feedback

Other feedback

  • Deloitte – 2004 report

    • A unique, thoughtful demonstration of The Hydro Way, its talents and why this suits Hydro

  • Hallvarsson & Halvarsson – 2005, 2006 and 2007

    • Hydro’s CSR reporting on web given top rating

  • Farmand – Annual report 2006

    • ”Årets vinner av Farmandprisen leverer et kunststykke av en årsrapport med en suveren dybde og bredde i informasjonen”


Challenges

Challenges

  • Our competitors competitive spirit

  • Management attention

  • Isn’t this just about communication?

    • Communication is important

    • Substance is key

  • Lack of living our values – foresight, respect, courage, cooperation, determination


Going forward

Going forward

  • From policy to what we actually do

  • Standards important

    • GRI

    • Global Compact

    • AA1000 Assurance Standard

  • 3rd party verification

    • Especially for international companies

  • Transparency is key

    • How our stakeholders see us

  • Report what is material to us and the society ...

    • Must make a difference – not report just for the sake of reporting


Viability performance reporting the hydro way

www.hydro.com


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