Impact report 2013

Society management approach

Standard Disclosure: Management Approach

Management Approach

This year, Yara has reported fully on eight Social points and partially on two points.

Yara believes that by offering a positive value proposition to our customers over time, we can deliver attractive returns to our shareholders while at the same time create value for society - creating shared value. Through our knowledge, products and solutions Yara is well positioned to address some of the major global challenges of our time, particularly within food, environment and resources, which also represent business opportunities.

We have called this our Creating Impact strategic ambition, and we aim to grow our business based on these principles. In 2014 Yara further developed its strategy processes to strengthen the organization's ability to capture future business opportunities found in long term scenario analysis.

Goals and Performance

For a full list of our performance, please see the GRI Index.


Yara is a commercial company with the purpose of creating value - for shareholders and customers, as well as for society at large. Value is created 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.

The key elements in Yara's policy on societal relations are described in the Board of Directors section of the Financial Report 2014 (pages 13 - 22), in the business Code of Conduct, Yara's Ethics and Compliance program and the Business Partner Code of Conduct.

For more information on stakeholder relations, see Stakeholder dialogue.

Yara's anti-corruption compliance policy is anchored through the Ethics and Compliance department:

• Through Yara's Corporate Social Responsibility Policy and Code of Conduct which outlines how Yara and its employees should act and what should characterize their behavior. This includes a commitment to the UNCG ten principles, and specific mentions of anti-corruption measurements.

• Through our Ethics Handbook, which gives explicit and practical guidance on the rules that's govern behavior in Yara. Several section fall under anti-corruption guidance.

• In addition, Yara has developed a Business Partner Code of Conduct that takes into account internationally recognized and endorsed standards in key areas such as business ethics (specifically mentioning bribery and corruption). Yara expects its Business Partners to do the same and is committed to working only with partners that fulfill this requirement.

All three documents listed above can we found here

• Though our IDD process that includes screening for the presence of an anti-corruption and compliance programs in our partners.

• Yara's Ethics and Compliance anti-corruption training program. There are mandatory training videos for all new employees on the topic. Through the "Share it" program we train existing employees on anti-corruption and compliance with face to face sessions. For 2015 there will be held 5000 face to face training sessions on anti corruption. For more on this see SO3.

Organizational risk assessment

Our IDD process includes screening for the presence of an anti-corruption and compliance program in our partners, see SO2.

The Yara risk assessment addresses among other things, corruption risks. For more on this see SO2.

Organizational Responsibility

The Yara Chief Communications and Branding Officer has organizational responsibility for this section.

The most senior position with operational responsibility for the anti-corruption compliance program is the Chief Compliance Officer.

Training and Awareness

Yara's video learning program on Ethics and Compliance is mandatory for all new employees, and it covers various topics including anti-corruption policies and procedures. In addition to the mandatory training program for new employees, Yara's Ethics and Compliance Department has a face to face training program called "Share it!". For more on this see SO3.

Stakeholder outreach

Yara continuously engages in proactive dialogues and processes with external stakeholders in pursuit of its vision and mission.

To build knowledge, develop relations, find solutions and invite to cooperation, we engage with key stakeholders. Additionally, we engage in a number of networks and partnerships, and are a member of industry associations and other relevant organizations and initiatives. Our local operations engage in community initiatives.

For a review of corporate level activities refer to the Impact Review 2014 Chronicle section.

Reference is also made to Yara's Society performance indicator points.

Monitoring , follow-up and remediation

Yara has an extensive reporting system in place for anyone (internal or external) that wishes to make a complaint on any topic including anti-corruption and compliance. This can be done anonymously if one so chooses. Foremost there is the Ethics Hotline which is available in 60 languages 24 hours a day, seven days a week. There is the Send email which is posted on our external and internal webpage. Additionally there is the option to report issues though you line management and most staff functions.

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