Hydro is a Fortune 500 energy and aluminium supplier operating in ...

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Dilemmas: Hydro has an opportunity to acquire part of an attractive licence for oil production in a developing country. The potential partner, who wants access to Hydro’s deep sea experience, is not very well known to us, and we do not know much about its values and business practice. A decision must be taken quickly, so it is difficult to make a proper due diligence assessment of the partner through independent sources. How far can we trust the partner’s own assurances? How far can we go in asking about ethical issues, without giving him the impression that we do not trust him and risk a negative cooperative climate? Shall we just join forces to seize a major business opportunity? Examples: Sourcing: Hydro Aluminium includes social criteria in assessing alumina suppliers. Projects: Hydro Technology and Projects has a rigorous supplier qualification and monitoring process that covers HSE and CSR issues. In a very important phase of a construction project, the supplier of a critical item suddenly proves to be unable to deliver in time. However, you are approached by another supplier who has this item available. You do not know much about this supplier, who has a reputation for good products, but his ethical standards may not be the best. Taking the time to check further or find an alternative supplier will result in the project getting behind schedule and exceeding budget (and be bad for your KPIs). What do you do? How far should Hydro go to assure compatible standards in suppliers? Exclusion: Suppliers that do not meet CSR standards may be excluded. The supply ship Prestige, for example, was disqualified because of unacceptable safety standards and working conditions. 45
46 CSR in Strategy, Business Planning and Reporting To integrate CSR in the annual business planning process, the following steps should be taken: 1. Social Responsibility Directive and Code of Conduct 6. Report Risks, opportunities, status targets 2. Risks & opportunities Issue identification 3. Status & performance Site managers 5. Follow-up & monitor 4. Targets & action plan Site managers and stakeholders
Page 1 and 2: Designed and produced by: Hydro Med
Page 4 and 5: Dear Hydro Colleague Our Hydro cult
Page 6 and 7: Introduction Invitation to a Dialog
Page 8 and 9: "This publication is another step t
Page 10 and 11: This chapter gives an outline of th
Page 12 and 13: “Hydro supports the principles se
Page 14 and 15: Dilemmas: You are a Hydro manager,
Page 16 and 17: “Through developing profitable bu
Page 18 and 19: Dilemmas: Hydro is about to establi
Page 20 and 21: “Hydro will not discriminate on t
Page 22 and 23: Dilemmas: In some Muslim countries,
Page 24 and 25: “We are prepared to enter into an
Page 26 and 27: “Hydro shall maintain high standa
Page 28 and 29: Dilemmas: Looking for business oppo
Page 30 and 31: Corporate social responsibility cal
Page 33 and 34: 32 CSR in the business planning pro
Page 35 and 36: 34 Development of social knowledge
Page 37: 36 The Hydro experience in Utkal, I
Page 40 and 41: It is important to obtain social kn
Page 42 and 43: Suggested approach 1. Make a strate
Page 44: CSR and Business Relations Companie
Page 49 and 50: 48 Resources The Hydro Social Respo
Page 51 and 52: 50 Appendix 1 Hydro’s Social Resp
Page 53 and 54: 52 Appendix 2 Hydro's Code of Condu
Page 55 and 56: 54 Appendix 2 Hydro's Code of Condu

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