Investor Relations

Stakeholder engagement 2008

Yara is in continuous dialogue with key stakeholders, particularly its owners, partners and customers, as well as with national and regional authorities, and international organizations. Yara is, on both a regular and irregular basis, in active contact with various parts of society as well as governmental and institutional bodies, on a global, regional and local level.

Public affairs

Yara engages in public dialogue on affairs relevant to its business, responding to initiatives and invitations as well as initiating exchange of ideas. During 2008, Yara was involved in international dialogue related to all of its shaping issues, as well as other policy-related ­matters.

Shaping Issues

ENERGY: Yara engaged in dialogue with the European Union (EU) to promote increased transparency in the European energy market, aimed at stimulating competition. Yara continued its engagement to make the global fertilizer industry become more energy efficient, through dialogue with the EU on reaching European targets, aimed at reducing emission of greenhouse gases (GHG). Yara also monitored the efforts made by the EU to bring down GHG emissions from the European transport sector by introducing more renewable fuels (biofuels) on the market.

CLIMATE: Yara engaged in the ongoing dialogue on the EU’s “Climate action and renewable energy package” which was agreed upon by the European Parliament and Council in December 2008 and which includes changes in the EU Emissions Trading System (ETS). While supporting the ambitious targets of the EU, as well as the inclusion of N2O emissions from nitric acid production, Yara advocates global measures to reduce emissions from the fertilizer industry to ensure that the relatively cleaner production in the EU is not disfavored in the global fertilizer market.

FOOD: Yara continued its commitment to the global efforts to achieve food security, participating in a number of high-level international meetings debating agricultural development in general and the global food crisis in particular. This included the opening of the UN General Assembly in September, launching its private-public partnership initiative of agricultural growth corridors in Africa. Yara co-hosted the third African Green Revolution Conference, and awarded the fourth Yara Prize in Oslo. Yara also represented the global fertilizer industry at the 16th session of the UN Commission on Sustainable Development (CSD).

HEALTH: Yara engaged in policy debates within the EU on achieving cleaner air, proving expert advice in several processes, including the policy debate leading up to the adoption of the Euro VI regulation. This refers to the Best Available Techniques for cutting NOx emissions, in the process of achieving stricter NOx emission limit values in the revision of the Integrated Pollution Prevention Control Directive. Yara also monitored the review of the international regulations establishing new NOx emission limits for pollution from ships. In September 2008, Yara co-hosted a key DeNOx event in Brussels.

Agricultural Growth Corridors

In 2008, Yara announced its engagement in two ­infrastructure projects in Eastern and Southeastern Africa: The Agricultural Growth Corridor Initiative, aiming to de-bottleneck agricultural commodity streams and catalyze new agricultural growth in the respective regions.
 
Yara aims to contribute to upgrade port facilities at two major ports: in Beira, Mozambique and Dar es Salaam, Tanzania. These private-public partnerships projects are both part of a regional strategy for harmonizing transport hubs in the fertilizer delivery chain, linked to initiatives for improving inputs efficiencies and infrastructure management. The initiatives, supported by the governments of the respective countries, involve several partners, including the government of Norway.

Yara presented the two innovative partnerships at the first-ever UN Private Sector Forum, part of the UN General Assembly, in New York in September 2008, with the company CEO meeting with UN Secretary-General Ban Ki-Moon to discuss a broader plan to create regional Agriculture Growth Corridors in Africa. At the World Economic Forum meeting in Davos in January 2009, Yara hosted a roundtable on the corridors project.

Yara has committed to investing USD 60 million in the partnership; building fertilizer terminals as part of the development of the port facilities in Beira and Dar. The current ports system is highly ineffective, with fertilizer shipments being delayed by customs clearance before delivery to the farmers. The port projects aim to speed up this process and make fertilizer available all-year-round by establishing a holding warehouse that can streamline effective distribution. Without improved port facilities, Mozambique, Tanzania and their surrounding regions will be unable to meet their agricultural growth targets.

Partnerships

Yara enforced its engagement in fostering private-public partnerships in support of the African green revolution, following up on initiatives taken since launching its Africa program in 2005, aligned with African policies and priorities. In 2008, Yara was involved in four such partnerships; one for each of Ghana, Malawi, and Tanzania, plus the regional Agricultural Growth Corridor Initiative with projects in Mozambique and Tanzania. In connection with the corridor initiative, Yara entered a strategic cooperation agreement with the Norwegian government in 2008, signed in January 2009.

Yara has partnered with the Norwegian environmental organization Bellona as well as with WWF Norway to address key environmental challenges, extending both agreements into 2009. In 2008, Yara partnered with 14 international companies in Norway in the KlimaGevinst (‘Climate Benefits’) project, aiming to contribute towards combating climate change.

Memberships

Yara is a member of the International Fertilizer Industry Association (IFA), with Thorleif Enger, the CEO of Yara until October 2008, holding the position as President (2007–09). Yara is also a Corporate Member of the European Fertilizer Manufacturers Association (EFMA), holds key positions in the European Industrial Gases Association (EIGA), and is a signatory to Business Action Against Corruption (BAAC).

In 2008, Yara joined the Development Policy Forum (DPF), a partnership among central players defining and implementing European development policies, and the World Economic Forum (WEF). As such, Yara participated at the 2008 Africa meeting in Cape Town, and in preparatory discussions for the 2009 meeting in Davos, where Yara hosted a roundtable on agricultural growth corridors in Africa.

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