Reporting and results

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.

The Dow Jones Sustainability Index assesses companies within three main categories of environment, social conditions and management routines (ESG: Environmental, Social and Governance). Since 2011, Orkla has been included in the Dow Jones Sustainability Index Europe.

The index from Dow Jones is considered by many to be the world’s most significant ranking of companies’ performance in environmental and social responsibility, and is an important legal source for investors and other stakeholders in the assessment of companies’ non-financial results.

In 2021, Orkla received a total score of 63 out of 100 points, which was an improvement compared to the results from the previous year.

Read more about the Dow Jones Sustainability Index here

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.

Read more on www.CDP.net

Orkla’s climate accounts have been prepared in accordance with the GHG protocol and the key figures are presented in Orkla’s annual report. The climate accounts have been verified by the auditing and consulting company EY.

Verification report

Orkla’s sustainability reporting for 2021 has been prepared in accordance with requirements in the GRI Standards.

The choice of topics in Orkla’s sustainability reporting is based on a dual materiality analysis, with emphasis on both the long-term societal and commercial impacts of Orkla’s efforts. We have also paid attention to the importance of the topics for important stakeholders’ assessments and decisions.

The materiality analysis is described in the document «Management Approach (GRI 103)». The document also describes how we have chosen to delimit the reporting for each of the topics that the reporting covers, what management routines and approach Orkla has for the work with these topics, and a description of how the approach is evaluated.

In 2021, Orkla has assessed climate-related risk in accordance with the framework in the TCFD (Task Force on Climate-Related Financial Disclosures). The risk assessment takes into account three different scenarios for global warming, an increase of +1.5 ° C, + 2 ° C and> 3 ° C, respectively, and how these will affect Orkla’s operations and value chain.

Orkla TCFD report 2021

In 2021, we have started reporting according to the new framework for sustainable value creation, Common Metrics, which was launched by the 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. We have prepared two separate overviews of which standards and indicators are covered within GRI Standards and Common Metrics.

Common Metrics Content Index 2021

GRI Content Index 2021

FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that Orkla ASA has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the FTSE4Good Index Series.

Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.