Investor Relations

Ethics and compliance 2009

In accordance with the CEO’s Leadership Agenda, Yara established an Ethics and Compliance Department in March 2009. Chaired by the new function of Global Head of Compliance, it is responsible for coordinating and overseeing ethics and compliance work, including oversight of corporate citizenship commitments and reporting.
Ethics and compliance

In addition to the department, an Ethics Working Group was set up, with group members drawn from various functions and geographical locations to ensure that compliance activities are relevant to the company’s diverse activities. In addition, five Regional Compliance Coordinators were appointed and received extensive training to be a further regional resource for the organization.

Ethics program

During 2009, significant effort was invested in the development of the Yara Ethics Program, including the Ethics Handbook, which is based upon the fundamental principles of Yara’s Code of Conduct, and structured around Yara’s core values: ambition, teamwork, trust, and accountability. This process involved input from large parts of the organization, including the Executive Management Team and Ethics Working Group, as well as local managers and employees. The program, which was finalized by the end of 2009, provides a comprehensive set of ethical guidelines and tools to assist managers and employees in making the right decisions when facing ethical dilemmas. Implementation of the program continues in 2010.

Citizenship commitments

The Ethics and Compliance Department in 2009 followed up on several actions related to Yara’s corporate citizenship commitments. Yara has been a signatory to and active supporter of the UN Global Compact since 2006, and in 2009 it participated in two UN GC Nordic Conferences. The department introduced itself at the UN GC office in New York, discussing future -cooperation.

Yara continues to report according to the Global Reporting Initiative (GRI) and is committed to improving the application of this framework. To further streamline and improve the quality and completeness of the company’s non-financial reporting, an internal project to consider the implementation of a new IT -solution has been initiated.

Yara did not identify non-compliance with laws or regulations regarding human rights, anti-competitive behavior, corruption, marketing, customer privacy or the provision and use of products, including their health and safety impacts, in 2009.

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