UN Global Compact

The Global Compact was formed at the initiative of then UN Secretary General, Kofi Annan, in 1999, because the UN wants business and industry to be more closely associated with the UN’s work. Companies that sign the Global Compact undertake to support 10 principles on human rights, labor standards, the environment and the fight against corruption.

Hydro was among the first companies to sign up as member of the Global Compact in 2000. We strongly support the principles of the GC, and have integrated them into our policies and practices. We operationalize them through development of guidelines, reporting, training, and workshops. Our commitment is also expressed by then President and CEO Eivind Reiten and Hydro's new President and CEO Svein Richard Brandtzæg in their letter to shareholders at page 4-5 in Hydro's Annual report.

In addition to our participation in the Global Compact, we also take active part in the Global Compact Nordic Network. 

To highlight in more detail how we follow up on the 10 Global Compact principles, we have prepared a more specified Communication on Progress. 

    Page    Annual report   hydro.com
Human rights
Principle 1 Support and respect the protection of internationally proclaimed human rights P. 65-70 Integrity and human rights

Restructuring
Principle 2 Make sure not to be complicit in human rights abuses P. 65-70 Integrity and human rights
Labor standards
Principle 3 Uphold the freedom of association and the effective recognition of the right to collective bargaining P. 66-69 Organization
Principle 4 Elimination of all forms of forced and compulsory labor P. 66 Integrity and human rights
Principle 5 Effective abolition of child labor P. 66 Integrity and human rights
Principle 6 Eliminate discrimination in respect of employment and occupation P. 65-72

Integrity and human rights

Restructuring

Organization

Environment
Principle 7 Support a precautionary approach to environmental challenges P. 62-65, 68 Environment
Principle 8 Undertake initiatives to promote greater environmental responsibility P. 62-65, 68
P. 73-74
 Environment
Principle 9 Encourage the development and diffusion of environmentally friendly technologies P. 62-65
P. 73-74
 Environment
 
Anti-corruption
Principle 10 Work against all forms of corruption, including extortion and bribery P. 65-66, 70 Integrity and human rights