Corporate citizenship is an integral part of Yara’s overall strategic direction and directs the company’s pursuit of business opportunities. Yara’s global corporate citizenship approach recognizes the impact that key megatrends have on its business environment – particularly growth, globalization and urbanization.
The company’s engagement is carried out through its core business and expertise, focusing on four shaping issues connected to major global challenges: Food security, climate change, energy supply, and health concerns. These issues are shaping the future of society – and global business.
With this approach, Yara is prepared to contribute solutions to major global challenges. One example of Yara’s engagement is its program supporting an African green revolution. In 2009, the partnership-based agricultural growth corridor concept initiated by Yara received support from the UN, African governments and the private sector.
The Board of Directors also recognizes the active role Yara played in the global arena in 2009, particularly in matters related to climate change and food security. The company’s knowledge and crop nutrition concept allows for increased agricultural productivity that makes it feasible to feed a growing world population without expanding crop land, thereby easing the pressure on remaining forests.
Also, Yara has received international attention for its N2O catalyst technology, which has significantly reduced the carbon footprint of the company’s nitrate fertilizers and has a huge potential to reduce global emissions. In addition, the market has responded favorably to the environmental solutions marketed by Yara’s Industrial segment, like products for NOx abatement.
Yara participates in the UN Global Compact, committing itself to the implementation of the initiative’s ten principles, including respect for internationally-proclaimed human rights and recognized labor standards. Also, through its Code of Conduct, the establishment of a dedicated compliance unit and the ethics program developed in 2009, Yara’s focus on ethical conduct has been reinforced.
For details on Yara’s corporate citizenship policy and performance, the Board refers to the separate Citizenship Report 2009, guided by the Global Reporting Initiative G3 guidelines. Yara’s citizenship policy and practices compare favorably with recommendations given in the Norwegian government’s 2009 whitepaper on private sector corporate social responsibility.