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3.4 Social Impact Assessment To ensure the best possible management of long-term social consequences related to significant changes in an ongoing operation or when new projects are launched, the unit in charge should evaluate whether and to which extent social impact assessments should be conducted as a basis for making business decisions. 3.5 Community Investments Based on systematic impact assessments and corporate strategies, Hydro's businesses may engage selectively in social investments that contribute to healthy community development. Opportunities for implementation through partnerships with government and civil society organisations should be actively explored. 3.6 Partly owned companies and other business relationships Hydro's CSR principles shall be promoted vis á vis partly owned companies and other business relationships. To contribute to improving supplier standards, adequate procedures for monitoring, evaluation and/or selection of suppliers reflecting Hydro's social responsibility principles shall be developed. 4 Roles and responsibilities While each Hydro employee has a responsibility to abide by the fundamental principles outlined in this document, specific responsibility for implementation is assigned as follows: 4.1 Line Management Line managers are responsible for CSR implementation and for communicating the basic principles of this Corporate Directive to all employees in their organisation. 4.2 Business Units To ensure that our business practices are in accordance with these basic principles, each 51 Business Unit shall integrate relevant CSR issues into its strategy development. Challenges related to CSR shall be evaluated in connection with the yearly business planning process. If relevant, goals and targets should be established. Operational guidelines for CSR shall be developed when appropriate and according to the specific challenges and characteristics of each Business Unit. Each Business Unit is responsible for developing and maintaining adequate organisational capabilities to ensure compliance with this Corporate Directive. 4.3 Corporate CSR Staff Corporate CSR is responsible for developing CSR policy and reporting guidelines, monitoring internal performance, and for providing general support to the Business Units. Corporate CSR is also responsible for coordinating external reporting at a corporate level and for developing and maintaining relationships with other companies, institutions and organisations in order to share knowledge and competence. 5 No rights created This Corporate Directive is a statement of certain fundamental principles, policies and procedures that govern the Company. It does not create any rights in any customer, supplier, competitor, shareholder or any other person or entity. * Hydro's 12 Corporate Directives should be seen as a whole and several issues covered in this document and should be seen in context with the other corporate directives. Requirements in NHC-CD03, Hydro's People Policy, NHC-CD04, Health, Security, Safety and Environment Policy and NHC-CD05, Hydro Code of Conduct, are also of relevance to people interested in CSR.
52 Appendix 2 Hydro's Code of Conduct NHC CD05 Revision date: 2003-07-15 1 General The Hydro culture is rooted in the principles of honesty and respect for other people. Successful businesses are profoundly dependent on confidence and a good reputation. Hydro's diversified operations demand a high degree of care, honesty and integrity. Accordingly, Hydro values its company culture and reputation as key assets. We expect our employees to promote our core values by acting responsibly towards colleagues, business associates and society at large. The main purpose of Hydro’s Code of Conduct is to ensure that all persons acting on behalf of Hydro perform their activities in an ethical way and in accordance with the standards Hydro sets through its Steering Documents. The rules will help secure compliance with laws and regulations. Legislation with particular relevance to this directive includes domestic legislation based on the OECD convention on briberies and US legislation on fraudulent financial reporting. This Code of Conduct provides a framework for what Hydro considers responsible conduct, but is not exhaustive. As a Hydro employee, you should always strive to exercise good judgement, care and consideration in your service for the Company. Reference in this Code of Conduct to Hydro or the Company should be understood as Norsk Hydro ASA, its affiliates and subsidiaries. 2 Scope and responsibility The Code of Conduct applies to all employees – including temporary personnel – of the Company throughout the world as well as to the members of the Board of Directors of Norsk Hydro ASA and of its subsidiaries (Board Members). You shall avoid acting or encouraging others to act contrary to this Code of Conduct, even if such deviations under the circumstances may appear to be in the Company's interest. If you are uncertain whether a particular activity is legally or ethically acceptable, you should, as far as practicable, consult in advance with your immediate superior or the Corporate Legal Office. As a line manager, you are responsible for making these guidelines known and to promote and monitor compliance. Violation of this Code of Conduct will not be tolerated and may in accordance with relevant legislation lead to internal disciplinary actions, dismissal or even criminal prosecution. Should an improper practice or irregularity occur within the Company, the Company is committed to make necessary corrections and take remedial action to prevent recurrence. This document has been approved by the Board of Directors of Norsk Hydro ASA. Deviation handling according to NHC-CD02 Hydro’s Management Model, if any, will be handled by the CEO. 3 Complaints, expression of concern and non-punishment Hydro wishes to stimulate actively open discussions about responsible conduct in an improvement oriented and unbureaucratic way. Thus, you should normally discuss your concerns and complaints with your superior. If you deem this not to be appropriate, you may address any other of your superiors, the local Human Resources or HSE staffs, your local compliance officer where such exists, or the Head of Internal Audit Corporate. Such concerns or complaints may be reported confidentially, in your preferred language and – if you find it necessary – anonymously. As a matter of law, concerns regarding questionable accounting or auditing matters shall be submitted to the Head of Internal Audit Corporate, which serves as secretary to the Audit Committee of the Board of Directors, or to the chairperson of the Committee. If you in good faith express your concern to a relevant body within Hydro concerning possible violation of law or Company policy, you shall be protected against any sanctions from Hydro or any Hydro representative due to your report. It is a violation of this Code of Conduct to discriminate or harass anyone for making such report. Anyone submitting a false report with the obvious intention to harass may, however, be subject to disciplinary action. If you feel that your pointing out any violation
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
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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
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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 47 and 48: 46 CSR in Strategy, Business Planni
Page 49 and 50: 48 Resources The Hydro Social Respo
Page 51: 50 Appendix 1 Hydro’s Social Resp
Page 55 and 56: 54 Appendix 2 Hydro's Code of Condu

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