Together with risk analysis and an extensive stakeholder dialogue, we have defined the main elements of our reporting:
- Energy and climate change
- Environmental impact management
- Ensuring a culture of compliance and integrity
- Human rights and community impact
- Organization and work environment
GRI Sustainability Reporting Standards (GRI Standards)
We use the GRI Standard 101 (2016) in defining which lower-level topics and indicators that are material to report upon. The standards include economic, environmental, and social dimensions relating to the company's activities, products, and services. The analysis is also based on our continuous stakeholder dialogue with key stakeholders and collected and evaluated by relevant specialists and leaders. Read more about the GRI Index on this page [link to 4.2.4 Global Reporting Initiative GRI Index].
The materiality analysis is updated annually, to reflect internal and external developments, and approved by Hydro's Corporate Management Board. Read about Hydro’s materiality analysis on this page [link to 184.108.40.206 Materiality analysis]
In 2019, we launched a new strategic agenda aiming to lift cash flows and returns with extensive improvement and restructuring efforts across our business areas, while highlighting sustainability as a basis for the company’s positioning.
The underlying details in the reporting are based on different reporting frameworks that are important to us, including
- The GRI Standards
- The UN Global Compact
- The International Council on Mining and Metals (ICMM) 10 principles and Position Statements
- The Aluminium Stewardship Initiative’s (ASI) 11 principles and underlying criteria.
The GRI index at www.hydro.com/gri also shows Hydro's adherence to the UN Global Compact, ICMM, and how we relate to ASI, UN Sustainable Development Goals, and UN Guiding Principles on Business and Human Rights - and shows how the different frameworks connect with each other.