Reporting and results

How does Orkla work with sustainability reporting and results?

At Orkla, we want to create trust in our business and products through open and good communication. We prepare an annual sustainability report that is included in Orkla’s annual report. In addition, we provide information about Orkla’s routines and about important sustainability measures through our website. Orkla also reports on our environmental work to the investor initiative CDP and on our work with responsible purchasing for the member organization Ethical Trade Norway.

Orkla’s sustainability work springs from an analysis of what we see as the most relevant themes of responsibility for our business and the sustainability challenges that in particular represent commercial risk or opportunities for Orkla. In the assessment, we consider the importance of our efforts for society, important stakeholder groups, and Orkla’s competitiveness. Orkla’s sustainability reporting includes the group’s work on the topics identified as material. The method for mapping material topics is described in more detail in Orkla’s sustainability report.

The reporting for 2021 is given in Orkla’s annual report, which was published on 25th of March 2022. In order to contribute to good and consistent international sustainability reporting, we have this year started reporting according to the new targets for sustainable value creation, Common Metrics, which was launched by World Economic Forum (WEF) in 2020. For 2021, we report on most “core metrics” and a number of “extended metrics”. At the same time, we continue to report on a number of other target figures defined in GRI Standards. Selection and processing of information is based on GRI’s principles of good reporting practice, where we have emphasized a good overall understanding of Orkla’s work, report on significant matters and measures, provide a balanced presentation, and facilitate comparisons with previous years. In addition, we have prepared a separate report on climate risk, based on the recommendations from the «Task Force on Climate-Related Financial Disclosures». An overview of the standards and indicators covered is given in the documents «Sustainable Management Approach (GRI 103)» «GRI Content Index 2021» and «Common Metrics Content Index 2021» below. In creating the report, Orkla has also used the Oslo Stock Exchange’s guidance on reporting social responsibility.

The information in Orkla’s sustainability report is based on input from many units and data sources. Great emphasis has been placed on ensuring that the information is correct. However, the report does not aim to cover all detailed matters that may be of significance to the individual local businesses, activities or products. Unless otherwise stated, the key figures in Orkla’s sustainability reporting include all companies in which Orkla had more than a 50% ownership share per. 31.12.2021. Orkla’s climate reporting have been prepared in accordance with the GHG protocol and GRI Standards and verified by the auditing and consulting company EY. For us to be able to further develop and improve the sustainability work and the reporting routines, we would like comments and input. Such comments can be sent to info@orkla.no

Reporting and results

Orkla has been a member of the UN Global Compact initiative since 2005. We participate in the work of promoting the Global Compact’s ten core principles for human and labor rights, the environment and anti-corruption. Through the worldwide network of companies and organizations, we contribute in a global mobilization for the global sustainability goals up to 2030, launched by the UN in 2015.

Through joining the Global Compact, we commit to annual status reporting. We do this through the publication of Orkla’s sustainability report, which in total describes the progress in the work on these topics.

Orkla is featured in the Dow Jones Sustainability Index Europe.

Read more about Dow Jones Sustainability Indices on their website.

CDP (formerly known as Carbon Disclosure Project) is an independent not-for-profit organization holding the largest database of primary corporate climate change information in the world.

Orkla works systematically to minimise its environmental footprint, and prepares an annual set of environmental accounts that show changes in its companies’ environmental impacts. Since 2008, Orkla has reported environmental information to the investor initiative CDP, which has become the foremost global system for climate and environmental reporting. CDP assessment covers policy, climate and energy accounts, measures implemented and improvements. The number of companies reporting to CDP rises every year, and CDP’s continually takes new steps to put environmental issues on the agenda.

For the last few years, Orkla has also reported to the CDP’s Forest and Water Programmes.