By pursuing its strategy, Yara has an indirect as well as direct impact on basic human needs, in particular food security in the context of a changing climate. Apart from providing jobs for its employees, tax revenues and valuable inputs for farmers, Yara’s strategy and innovative approach aim to trigger development and inclusive, sustainable growth.
Sharing of knowledge and advice to promote best farming practice is bundled with innovative business models, not least in the context of Yara’s partnerships through the New Vision for Agriculture of the World Economic Forum. Here, Yara and more than 30 other global companies have united to trigger 20% improvements per decade on agricultural productivity, rural poverty and greenhouse gas emissions.
Examples of Yara’s partnership engagements include the Ghana Grains Partnership, the Southern Agricultural Growth Corridor of Tanzania and Yara’s participation in both the Africa-led Grow Africa Partnership and the G8-based partnership New Alliance for Food Security and Nutrition. Contributing to improved local and regional environmental conditions, Yara’s engagement towards the Baltic Sea provides a good example of how profitable farming and environmental concerns can be combined.
Yara is a signatory to the UN Global Compact (UNGC), embracing and implementing its principles covering the areas of human rights, labor rights, environment and anti-corruption. Yara has also been granted membership to the Global Compact LEAD, which was launched in 2011 to provide knowledge and inspiration on advanced aspects of corporate sustainability, and to provide leadership for global issue platforms. In 2014, Yara also decided to sign the UNGC CEO Water Mandate and the Call to Action on corruption, and joined the Global Alliance on Climate Smart Agriculture.
Observing the positive alignment between Yara’s strategic positioning and the UN process on Sustainable Development Goals (SDGs), the company was a co-signer of the Business Manifesto in September 2014. This document, launched during the UN General Assembly, voiced private sector support from 21 global companies for the SDG process as a tool towards ending poverty and a transition towards sustainable, inclusive markets.
Furthermore, Yara is a member of the UNGC Caring for Climate initiative, and is committed to adhering to the FTSE4Good criteria. For Yara, human rights has not been identified as a high risk area within the current operational setup of the company.
Compliance risk including human rights is an integrated part of the ‘Capital Value Process’, comprising all significant investments and transactions. Yara’s commitment to respecting human and labor rights is integrated in Yara’s Code of Conduct, further operationalized in the Ethics Handbook and also incorporated in Yara’s steering systems such as the Integrity Due Diligence process for business partners and Yara’s Business Partner Code of Conduct. Support for the UNGC principles is anchored at the CEO level.
In 2014, none of our subsidiaries have identified that the right to exercise freedom of association and collective bargaining may be at significant risk. Transparency on management approach, measures and outcome relating to HESQ, Ethics & Compliance and related topics is secured through online GRI (Global Reporting Initiative) reporting.
Yara is compliant with the new reporting requirements with effect from the financial year 2014 for the extractive industries (including mining) with basis in EU regulation 2013/34 and set out in Norwegian Account Act. The full country by country reporting can be consulted on