Norsk Hydro ASA
|Norsk Hydro ASA|
|Executive Chairman||Jorma Ollila|
|CEO||Ben van Beurden|
|Products||Aluminium and related products; hydropower and solar power|
|Market Value||10.315,5 m$|
About Norsk Hydro ASA
Norsk Hydro ASA is a Norwegian aluminium and renewable energy company with headquarters in Norway’s capital, Oslo. Hydro is one of the largest aluminium companies worldwide and the major producer of hydroelectric power in Norway. It has operations in some 50 countries around the world and is active on all continents. The Norwegian state holds a 34.3 percent ownership interest in the company.
Engagement in Cultural Diplomacy
Hydro promotes its views on issues of importance like climate change, reducing emissions from industrial processes, sustainable production and consumption, trade, energy efficiency, energy markets, health and safety at the workplace, etc. either through direct interaction with public authorities, or through the various industry associations in countries where they have significant operations, such as Norway, Germany, France, Australia, Brazil, USA. Amongst these associations: the International Aluminium Institute, the European Aluminium Association, the World Business Council for Sustainable Development, the European Roundtable of Industrialists, the Federation of Norwegian Industry, the American Aluminium Association, and many more. Hydro subscribes to the Code of Conduct for Lobbying in the European Parliament, and is currently preparing its submission to the European Register of Interest Representatives, set up by the European Commission. Hydro also is a member of a series of think-tanks, especially in Brussels, and engages regularly in discussions with various NGOs.
The Norsk Hydro corporate directives help ensure that all employees carry out their activities in an ethical manner and in accordance with current legislation and Hydro standards. The code of conduct applies to employees and board members worldwide, as well as those of their subsidiaries. The code of conduct addresses compliance with laws and other matters, such as handling of conflicts of interest and their commitment to equal opportunity for all employees. To achieve diversity among company employees, the business areas should recruit a number of newly qualified persons each year. Hydro does not accept child labor and will not employ children below the age of 16, nor does it accept forced labor. In cases of complaints, employees also have a whistleblower channel available to them at all times. It is administered by an internal audit function, which reports the status of the whistle-blowing cases to the Board Audit Committee.
Cooperation with Universities
Qatar University has signed an agreement with Hydro and Qatar Aluminium Company (Qatalum) to establish a faculty chair of aluminium production at the university's College of Engineering. Hydro and the University of Oslo plan to create a research program connected to Hydro's mining operations in Brazil. The aim is to generate knowledge that can strengthen Hydro's ability to preserve the natural biodiversity of the areas where the company mines bauxite. Hydro has agreed with the Norwegian University of Science and Technology (NTNU) to sponsor two professorships for three years, opening up for extensive research across the aluminium value chain to bolster Norway’s position as a frontrunner in the metal of the future.
Promoting Human- and Civil Rights
Norsk Hydro is committed to the principles of non-discrimination and care for vulnerable individuals and groups. Business can have an important role in supporting the fulfillment of human rights. Through the operations Norsk Hydro contributes to the economic and human development of the employees and the communities in which they operate. Hydro is a member of the United Nations Global Compact and ICMM. The IFC Performance Standards and the Equator Principles have been used as references when preparing the Human Rights policy. The Voluntary Principles on Security and Human Rights are used as guidelines. In meeting corporate responsibility to respect human rights Hydro refers to all internationally recognized human rights and labor standards, and at a minimum those contained in the International Bill of Human Rights and the ILO Declaration on Fundamental Principles and Rights at Work.
Activities in the Field of Humanitarian Aid
Hydro has contributed NOK 1 million to this year’s televised national fundraising campaign in Norway, named “Together for children”. By supporting this year’s fundraising campaign, Hydro wishes to contribute to making a big and lasting difference in the lives of children affected by HIV and AIDS.