webinar 4 March 2014 The link between ltIRgt and enhanced business performance Susanne Stormer Novo Nordisk Technical priorities call for contributions Michael Nugent Lisa French IIRC ID: 412723
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Slide1
Pilot Programme
webinar
4 March 2014Slide2
The link between <IR> and enhanced business performance
Susanne
Stormer, Novo Nordisk
Technical priorities – call for contributions
Michael Nugent / Lisa French, IIRC
IIRC Pilot Programme activities for 2014Sarah Grey / Kate Jefferies, IIRC
AgendaSlide3
Susanne StormerVice President
Corporate Sustainability
Integrated strategic management
The journey of Novo NordiskSlide4
Purpose-led and values-drivenIIRC webinar, 4 February 2014
Our ambition is to strengthen our leadership in diabetes
.
We aspire to change possibilities in haemophilia and other serious chronic conditions where we can make a difference.
Our key contribution is to discover and develop innovative biological medicines and make them accessible to patients throughout the world
.
The Company’s objects are to carry out research and
development and
to manufacture and commercialise
pharmaceutical
, medical and
technical
products and services
as
well as any other activity
related thereto
as determined by
the
Board of Directors.
The
company strives to conduct its business in a financially, environmental and socially responsible way.Articles of Association
The Triple Bottom Line business principle
The Novo Nordisk way
Novo Nordisk - integrated strategic managementSlide5
Novo Nordisk’s strategy
IIRC webinar, 4 February 2014
Novo Nordisk - integrated strategic managementSlide6
Integrated strategic managementA solid governance structure is in place
Stakeholders
Governance
Aspirations & goals
Integrating
thinking in
business
processes
Performance
- Articles of Association
- Novo Nordisk Way
- Policies and strategies
-
Boards and Committee
- Annual strategy review by
the Board of Directors
- Strategic long-term targets
and 2020 aspirations
- Specific short-term targets
-
Trend spotting
- Stakeholder engagement
- Partnerships
- Balanced Scorecard
- Personal performance goals
- Long-term incentive programme
- Quarterly
management
reporting
- Annual reporting
IIRC webinar, 4 February 2014
Novo Nordisk - integrated strategic managementSlide7
Our long-term targetsBSC Reported in AR
IIRC webinar, 4 February 2014
Novo Nordisk - integrated strategic managementSlide8
Excerpt from the statements: social metrics
3.6
1
3.6
1
Frequency of occupational
accidents
3.5
Least developed countries where Novo Nordisk sells
insulin
36
35
35
Warning
letters
and re-inspections
1
0
1
Social performance in 2013
1. Comparative numbers have been restated
Patients reached with Novo Nordisk diabetes care products in millions
(estimate)
20.9
22.8
24.3
40by20
Working the Novo Nordisk Way
(employee engagement score)
4.3
4.4
4.3
4.0
Diverse senior management teams
62%
66%
70%
100%
Employee turnover
9.8
9.1
8.1
2011
20132012Long term target
IIRC webinar, 4 February 2014Novo Nordisk - integrated strategic managementSlide9
QuestionsSlide10
BREAKTHROUGH PHASE
Provide guidance and examples
Gather Framework feedback
Demonstrate evidence base / business case for <IR>
Reduce barriers to implementation
Technical prioritiesSlide11
ONGOING
Monitor
implementation Examples database
Policy input Business case
/
evidence Academics Other initiatives
Projects
SPECIFIC TOPICSMegatrends, capitals and valueValueMateriality and boundariesNavigating <IR> Public sector
AssuranceSlide12
TASK FORCES
Subject-matter
expertiseRegional representation
Stakeholder /
functional balance
Skill
set, gender, diversity
Pilot Programme involvementSlide13
INPUT OPPORTUNITIES
Project scoping
Task
force
Review team
Ongoing
Monitor implementation
additional guidance
implementation challenges
unclear terminology
P
P
Assurance
demand
technical
readiness
P
P
P
P
Technical priorities
Pilot Programme involvement
Contact:
michael.nugent@theiirc.orgSlide14
Evidence base
/ business case for <IR>
INPUT OPPORTUNITIES
Project scoping
Task
force
Review team
Ongoing
hard data
including reduced net reporting costs, return on investment, streamlining efficiency, cash flow implications of integrated thinking, stable investor base and reduced cost of capital
anecdotal support
including investor reaction and board response
P
P
P
Technical priorities
Pilot Programme involvement
Contact:
lisa.french@theiirc.orgSlide15
Mega-trends, capitals and value
Megatrend.
A large social, economic, political, environmental or technological change that is slow to form. Once in place, megatrends influence activities, processes and perceptions in business, government and society, possibly for decades.
shifting demographics / aging population
pace of technological change
cyber-security
urbanization
climate change
water scarcitySlide16
PROJECT OBJECTIVES
Root
<IR> in business reality by connecting topical issues to the six capitals and
value creationRaise profile of capitals that often go overlooked
Consider
how integrated reports can
demonstrate connectivity and address short- and long-term performance tradeoffs
Mega-trends, capitals and valueSlide17
INPUT OPPORTUNITIES
Project scoping
Task
force
Review team
Ongoing
Mega-trends, capitals and value
P
P
P
P
Pilot Programme involvement
Contact:
lisa.french@theiirc.orgSlide18
Materiality and reporting boundaries
PROJECT OBJECTIVES
Reconcile
materiality determination approach
defined
by
the International <IR> Framework with those used
in traditional financial and sustainability reporting Illustrate link between materiality and concisenessShowcase examples of materiality determination processes and the link to boundary determinationSlide19
INPUT OPPORTUNITIES
Project scoping
Task
force
Review team
Ongoing
Materiality and reporting boundaries
P
P
P
Pilot Programme involvement
Contact:
lisa.french@theiirc.orgSlide20
QuestionsSlide21
Madrid
, Spain
Eurostars Madrid Tower
Hotel
Start
at lunchtime on Wednesday 24
SeptemberFinish at lunchtime on Friday 26 September
IIRC
Pilot Programme Conference 2014Slide22
Next webinar on
Wednesday 7 May