Investor Relations

Society indicator points 2010

SO2 - Percentage and total number of business units analyzed for risks related to corruption. 

Risk assessments in regard to corruption were conducted for individual countries, not business units. In 2010, fraud and corruption were part of the internal audit scope for two countries. In addition, Yara's Internal Audit performs a monitoring/audit of the Ethics and Compliance Function as a whole.

Throughout 2010, the emphasis was on awareness training and risk mapping with respect to risk corruption. With the implementation of the Ethics Program, Yara will strengthen its focus on the risks related to corruption on a business unit level.

SO3 - Percentage of employees trained in organization’s anti-corruption policies and procedures.

In 2010, Yara rolled out its Ethics program to the whole organization. The formal training presentation was given throughout the organization as follows:

Number of Employees who received Ethics and Compliance Training Number of hours devoted to Ethics and Compliance Training Proportion of Total Employees receiving training on human rights (%)
Africa 65 484 56.5
Asia 143 429 57.9
Brazil 917 2,656 93.2
Europe 4,289 6,425 84.1
Latin America 391 229 100
North America and Trinidad 301 15,232 58.6
Yara 6,106 25,454 83.1

SO4 - Actions taken in response to Corruption.

The Ethics Hotline was established in 2010, and is run by an external company.
In 2010, there were three reports to the Ethics Hotline regarding gifts, bribes and kickbacks in three different countries. These cases were handled according to Yara's investigation procedures.

In addition, the launch of the Ethics Program in 2010 included employee training that covered the topic of corruption, along with mandatory ethics videos on topics including corruption, facilitation payments, competition law, gifts and entertainment and respecting human rights.

SO5 - Public policy positions and participation in public policy development and lobbying.

Yara continuously engages with key stakeholders, particularly its shareholders, partners and customers, national and regional authorities and organizations locally and globally. In addition, Yara participates in a number of partnerships and networks, also as a member of industry associations and relevant organizations and initiatives.

Public affairs

During 2010, Yara was involved in international dialogue related to key global issues, with a priority given to the interconnection of food security and climate change, with a particular focus on African agriculture.

Global issues

Yara engaged in a dialogue with the Prince of Wales on climate change financing. Cooperating with the Prince's Rainforest Project (PRP), Yara attended a regional workshop in Ghana and a private sector workshop in London. Yara committed itself to work on identifying ready-to-go low carbon projects in developing countries. The projects should bring together public and private sector actors, and serve as demonstration projects, also for fast-start finance.

Leading up to the Cancun conference, Yara participated in parallel processes to reinforce the role of agriculture in global mitigation of climate change. The company presented its Climate-Compatible Agricultural Growth initiative at the Global Conference on Agriculture, Food Security and Climate Change in The Hague. This conference initiated the "Roadmap for Action: Agriculture, Food Security and Climate Change." This roadmap links agriculture-related investments, food security and climate change.

The combined challenge of food security and climate change featured prominently at the World Economic Forum annual meetings in 2010 as well as 2011, in which Yara took a representative position for the agricultural business sector. Yara co-hosted private sessions on rural economy and agricultural development, took part in launching the "New Vision for Agriculture" strategy and presented the "Financing sustainable land use" analysis. Yara CEO Jørgen Ole Haslestad served as Co-Chair of the 2010 WEF Africa regional meeting in Dar es Salaam, where key issues included sustainable growth and agricultural growth corridors. Yara also participated in WEF regional meetings in Asia, in Ho Chi Minh City and New Delhi.

Additionally, Yara took part in a number of international events related to food security and climate change in 2010 at the: International Zinc Conference, Scottsdale, on ZnO-based fertilizer delivery systems; Commonwealth Business Council Africa Investment Forum, Accra, on accelerating intra-African trade and investment; Joining up Africa conference, London, on regional economic integration; G8 African Business Forum, London, on African success stories and partnerships; IFA Africa Forum, Paris, on agricultural growth corridors; World Food Prize Borlaug Dialogue, Des Moines, on reaching the world's smallholders.

Visions for agriculture

Yara played a key role in the 18-month-long process leading up to the launch of the ambitious "New Vision for Agriculture" roadmap at the 2011 World Economic Forum in Davos. This new roadmap aims to unleash the power of agriculture to drive food security, environmental sustainability and economic opportunity. Yara was also represented on the board of the WEF "Financing Sustainable Land Use" project.

Industrial issues

Yara is Europe's largest industrial consumer of natural gas, and has strengthened its role as a key stakeholder in the processes leading to a more liberalized European gas market. Processes leading to increased transparency for the benefit of gas customers, more efficient balancing and better regulation of the European gas market are political efforts in which Yara is currently strongly involved. Dialogue and cooperation with relevant authorities from a number of EU member states has also been initiated to improve the level of understanding related to the future implementation of new legislation.

Common Agricultural Policy - CAP

Yara has made note of the ongoing process of revising the EU Common Agricultural Policy. As a business stakeholder in the agricultural value chain, Yara prepares to engage in the policy-making process. Yara’s key position is to maintain focus on increasing yields while improving resource use efficiency throughout the value chain, which is an important contributor to sustainable agricultural development.


The EU Emissions Trading System (ETS) is the world's largest international scheme for the trading of GHG emission allowances. A cornerstone of the EU's policy to combat climate change, the ETS covers about 11,000 power stations and industrial plants in 30 countries.

From 2013, all European ammonia and nitric acid plants will be regulated under the European Emission Trading Scheme (ETS). This will lead to added production costs for Yara and other European producers, especially in the ammonia sector. The European industry is deeply concerned that this will lead to competitive distortion versus non-European producers, resulting in increased imports from less efficient producers outside the EU, with consequent carbon leakages and more global emission of GHGs. Yara expects to meet the new requirements for its nitric acid plants by having installed the company's N2O reduction technology, and examines the possibility for further technical improvements in some of the ammonia plants.

Other issues

In February 2010, the CEO participated in the Baltic Sea Action Summit, in Helsinki Finland. The summit was a multi-stakeholder platform for heads of state, companies, business leaders and non-governmental organizations as well as individual citizens, aiming to find ways to rescue the area eutrophication. The CEO presented the research project TraP, in which Yara and its partners have developed a solution that significantly reduces phosphorous leakage from fields into waterways.

In January 2010, Yara reached an agreement to sell its shares in the Brazilian company Fosfertil to Vale, along with its stake in the Anitápolis phosphate rock project in southeastern Brazil. The latter was held through Yara's joint venture company, Indústria de Fosfatados Catarinense. The project of developing the phosphate mine, still at an early stage, has caused contention due to environmental concerns and local opposition. Yara's interest in the project resulted from its acquisition of Adubos Trevo in 2000.

SO6 - Total value of financial and in-kind contributions to political parties, politicians and related institutions by country. 

Yara’s Ethics Handbook has a clear policy against donating to political parties, politicians and related institutions.

SO7 - Total number of legal actions for anti-competition behavior, anti-trust and monopoly practices and their outcomes. 

Yara is currently involved in two pending cases involving allegations of anti-competitive behavior. One case, in South Africa, has been decided in Yara's favor. The relevant competition authority can, however, still appeal the court's decision. The other case is pending while being vigorously disputed. Yara does not believe that any of these cases will have any significant impact on Yara's operations.

SO8 - Monetary value of significant fines and total number of non-monetary sanctions for non-compliance with laws and regulations.   

Yara was not a subject to significant fines, nor any non-monetary sanctions for non-compliance with laws and regulations in 2010.

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