During 2011, Yara reviewed its previous citizenship approach, broadening its scope through establishing the Creating Impact strategic framework. As a strategic ambition, Creating Impact is closely connected to the company mission, ‘Better yield’.
Subsequent to the Board’s approval, the Creating Impact approach was launched internally in 2011. It is a business approach building on three interlinked dimensions, mutually reinforcing each other in a virtuous cycle: competitive advantages, value creation and creating impact.
Yara creates value by executing the company’s strategy for profitable and sustainable growth. Sustainable value creation in a global industry and competitive world market depends on competitive advantages. In the case of Yara, these derive largely from the company’s unique business model, global position and extensive knowledge assets.
Creating value allows Yara to create impact: to develop improvements along its own value chain, to drive improvements in the industry’s overall performance, and to contribute solutions to major global challenges, impacting on society and delivering on the company mission.
By adding the Creating Impact dimension, Yara further explores the opportunities arising from addressing and contributing towards societal benefits which are linked to Yara’s core business, position or knowledge. By making these interconnections, Yara will create sustainable competitive advantages.