Reporting and results

Orkla's sustainability reporting

At Orkla, we want to create trust in our business and products through open and good communication. We prepare an annual sustainability report which is included in Orkla’s annual report. In addition, we provide information about Orkla’s policies and governing principles through our website. Orkla also reports environmental information to the investor initiative CDP and information about our work to ensure responsible business practices in supply chains to the member organization Ethical trade Norway.

Orkla’s sustainability work encompasses the topics that we consider to be material in terms of the impact that we make, and is also based on commercial considerations. The assessment is based on analyses of Orkla’s actual and potential impact on people, the environment and society and of our exposure to sustainability-related risk, in accordance with the principle of double materiality. Orkla’s sustainability reporting covers the topics identified as material.

The reporting for 2022 is given in Orkla’s annual report, which was published on 23rd of March 2023.

Orkla’s sustainability reporting for 2022 has been prepared in accordance with the Oslo Stock Exchange’s guidance on corporate responsibility reporting and GRI standards. The reporting also covers most of the core metrics and a number of extended metrics in the World Economic Forum’s Common Metrics reporting framework. Orkla’s sustainability report and taxonomy report for 2022 are included as separate sections in our Annual Report. In addition, certain matters are reported in other parts of the Annual Report. 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 comparison with previous years.

A separate report on climate risk, based on the recommendations of the Task Force on Climate-Related Financial Disclosures, may be found on Orkla’s website. A complete overview of the GRI Standards and Common Metrics indicators covered by the reporting for 2022 with page references is also posted on the website.

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 the Sustainability Report concern the period from 1 January to 31 December. The reporting covers all the businesses in which we owned more than a 50% interest as of 31 December 2022, except for companies acquired after 1 July 2022.

Orkla’s climate accounts have been prepared in accordance with the GHG protocol. The environmental and climate accounts have been verified by the audit and consulting firm EY.

To be able to further develop and improve the sustainability work and the reporting, 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.

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.

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.