Community investments
Before we enter a new business project, we carry out impact studies to assess social and environmental aspects of the project. On the basis of these, we draw up a plan for how we can meet social and environmental challenges.
Community investments can form part of this plan.
We have special guidelines for community investments. These aim to ensure that such investments are made in line with Hydro’s business strategy, while at the same time supporting local and regional needs and development plans. Relevant interest groups are included in discussions, and we examine political and social aspects in order to ensure that Hydro’s investments do not have unintended consequences.
Transfer of technology and knowledge is an important way in which Hydro can contribute. We have initiated several projects to promote the development of competence and expertise in countries where we operate.
Contributions
In total, Hydro spent about 86 million NOK on charitable donations, sponsorships and community investments in 2007. Important elements are our support of the Nobel Peace Center in Oslo and our long-standing sole sponsorship of the Oslo Philharmonic Orchestra.
Other important contributions are the transfer of competence that takes place through our cooperation with universities and research institutions. This includes scholarships to selected PhD students within Hydro's business areas. In 2008 we entered into a three year agreement with the Norwegian University of Science and Technology (NTNU) to sponsor two new professorships - one within electrolysis and one withing alloy development and materials technology.
