Setting our priorities
In 2021, we renewed our approach to materiality. We widened our mapping of impacts, linked the materiality assessment to our stakeholder, strategy, and risk processes, and strengthened the connection between our material topics and performance management.
At Yara, we want to direct our attention and efforts to the topics that truly matter to our value creation and to our stakeholders. We are conscious of the fact that risks and opportunities can be material from both a financial and non-financial perspective, recognizing the concept of double materiality.
We therefore define material topics as matters that have the potential to affect our value creation, along with topics that represent actual and potential negative or positive environmental and social impacts related to our activities and business relationships.
We are transforming our business with the ambition of offering nature-positive solutions, which entails both new challenges and new opportunities.
Criteria used to prioritize topics
Importance to Yara
Scale: Significance of negative or positive financial impact
Likelihood: Chance of the negative or positive impact materializing
Importance to stakeholders
Importance of topic to stakeholders’ assessments and decisions about Yara
We applied thresholds for tier 1 and tier 2 topics. This tiered approach clarifies our prioritization of issues
|Occupational and process safety
Keeping all our employees, contractors and neighbouring communities safe and minimally exposed to risks generated by our processes.
Leadership and employee enablement
|Diversity, equity and inclusion
Building an inclusive and diverse work environment, and ensuring fair treatment and equal opportunities for all employees.
|Entrepreneurship and agility
Our ability to design, launch and run new business models to exploit business opportunities.
|Human rights and labour practices
Respecting internationally recognized human rights along with all relevant labour rights throughout our operations and in our supply chain, and maintaining good and constructive relations with our employees and their organizations.
|Health and well-being at work
Promoting a healthy working environment that protects the physical and mental well-being of all while at work.
|Security and emergency
Protecting our people, environment, assets and reputation from internal and external threats and potential emergencies.
Taking proper care of our products’ compliance, quality, safety and environmental footprint through the entire value chain.
|Opportunities in clean tech
Reaping the benefits of implementing low-carbon and other environmental technologies in our operations and in our offerings.
|Sustainable farm management
Facilitating and supporting sustainable farming practices that impact positively on crop quality, GHG emissions, soil quality and water use efficiency.
Improve energy efficiency and intensity, and define the company position on sourcing of renewable energy.
|Water management in production
Protecting clean water and minimizing water stress by using water and managing discharges efficiently.
Protecting fresh air and preventing ambient air pollution by
mitigating emissions to air.
Moving towards CircularEconomy by using materials efficiently and improving waste management by prioritizing recycling and circularity and developing technologies to enable it.
|Protection of ecosystems
Supporting the health of ecosystems by preventing deforestation and loss of nature and species, and by preserving soil andwater quality.
Sustaining profitability in our business and delivering superior shareholder returns based on reliable
and cost-efficient operations, capital discipline and global optimization.
Applying digital technologies to improve our production, agronomy services and overall business.
Customers’ experience, interaction and perception of the whole series of encounters with Yara when they buy goods or services.
|Sustainable supply chains
Understanding and managing environmental, social and economic impacts along the value chain.
|Socioeconomic impact on communities
Establishing and maintaining mutually beneficial relationships with the communities in which we operate.
Honoring responsible business conduct and promotingaccountability by maintaining proper policies and practices, upholding a culture of respect, honesty and fairness, and contributing to transparency.
|Regulatory change and compliance
Conforming to all applicable laws, regulations, standards, permits and voluntary agreements while keeping abreast of and prepared for new regulatory changes.
Engaging with material stakeholders, including the processes in place to identify and understand stakeholders’ key concerns and Yara’s impact on stakeholders, for soliciting stakeholders’ input, and for guiding the Board’s prioritizations for long-term value creation.
|Board composition and oversight
The extent to which the composition, role, and work of our Board of Directors is aligned with long-term value creation.