Novo Nordisk 'strives to conduct its activities in a financially, environmentally and socially responsible way'. This statement is anchored in the Articles of Association and embraces the principles upon which the company was founded.
This formal commitment to sustainable development and balanced growth has been built into the corporate governance structures, management tools and individual performance assessments. The principle of 'preserving the planet while improving the quality of life for its current and future inhabitants' resonates well with Novo Nordisk's business rationale and its values-based approach. This is what lies behind the Triple Bottom Line, which the company has adopted as a broad business principle. It ensures that decision-making balances financial growth with corporate responsibility, short-term gains with long-term profitability, and shareholder return with stakeholder interests.
At Novo Nordisk, sustainable development has been an integral part of doing business for more than a decade. The Triple Bottom Line is an expression of how we put it into practice.
Environmental responsibility
Environmental responsibility addresses our impact on the external environment as well as the bioethical implications of our activities such as animal experimentation and safety issues regarding the use of genetic engineering. Read more about the concrete initiatives within environmental responsibility.
Social responsibility is about caring for people. This applies to the people whose healthcare needs we serve as well as to our employees. It also considers the impact of our business on the global society and the local community. Read more about concrete initiatives within social responsibility.
At Novo Nordisk, economically viable means managing our business in a way that secures growth and prosperity. This includes making profit for the company's shareholders, educating employees, and investing in the growth of the business. Read more about concrete intiatives within economic viability.
Novo Nordisk's Triple Bottom Line approach rests on a three-tiered strategic framework:
The Corporate governance framework ensures action and consistently tracked performance against long-term as well as short-term targets to ensure compliance with international standards and company commitments.
Stakeholder engagement activities enable the company to be attentive to current and emerging concerns.
Follow-up procedures ensure full integration in the business and independently reviewed assessment of our corporate conduct.
Novo Nordisk’s Triple Bottom Line strategy
The sustainability-driven initiatives are orchestrated by Corporate Stakeholder Relations, which drives, challenges and monitors the Triple Bottom Line Strategy in Novo Nordisk and helps the line implement new activities to pursue sustainable business goals. This strategy serves as a platform for organisational learning and innovation. It rests on six key processes:
Monitoring issues and spotting trends that may affect the future business.
Engaging with stakeholders to reconcile dilemmas and find common ground for more sustainable solutions.
Building relationships with key stakeholders in the global and local communities of which Novo Nordisk is a part.
Driving and embedding long-term thinking and the Triple Bottom Line mindset throughout the company.
Accounting for the company's performance and conveying Novo Nordisk's positions, objectives and goals to audiences with an interest in the company.
Translating and integrating the Triple Bottom Line approach into all business processes to obtain sustainable competitive advantages in the marketplace.
This page has been assessed by PricewaterhouseCoopers as part of its assessment of Novo Nordisk’s statement that it reports ‘in accordance’ with GRI. Please refer to Audit and assurance for a full description of the nature of assurance offered.
