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Pilot Programme webinar 4 March 2014

Pilot Programme webinar 4 March 2014. Agenda. The link between <IR> and enhanced business performance Susanne Stormer , Novo Nordisk Technical priorities – call for contributions Michael Nugent / Lisa French, IIRC

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Pilot Programme webinar 4 March 2014

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  1. Pilot Programmewebinar 4 March 2014

  2. Agenda • The link between <IR> and enhanced business performanceSusanne Stormer, Novo Nordisk • Technical priorities – call for contributions • Michael Nugent / Lisa French, IIRC • IIRC Pilot Programme activities for 2014Sarah Grey / Kate Jefferies, IIRC

  3. Integrated strategic managementThe journey of Novo Nordisk Susanne Stormer Vice President Corporate Sustainability

  4. Novo Nordisk - integrated strategic management Purpose-led and values-driven The Triple Bottom Line business principle The Novo Nordisk way • 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

  5. Novo Nordisk - integrated strategic management Novo Nordisk’s strategy

  6. Novo Nordisk - integrated strategic management Integrated strategic managementA solid governance structure is in place Governance Stakeholders - Articles of Association - Novo Nordisk Way - Policies and strategies - Boards and Committee - Annual strategy review by the Board of Directors - Trend spotting - Stakeholder engagement - Partnerships Integrating thinking in business processes Performance Aspirations & goals - Strategic long-term targets and 2020 aspirations - Specific short-term targets - Balanced Scorecard - Personal performance goals - Long-term incentive programme - Quarterly management reporting - Annual reporting

  7. Novo Nordisk - integrated strategic management Our long-term targetsBSC Reported in AR

  8. Novo Nordisk - integrated strategic management Excerpt from the statements: social metrics Long term target Social performance in 2013 2011 2012 2013 Patients reached with Novo Nordisk diabetes care products in millions (estimate) 20.9 22.8 24.3 40by20 Least developed countries where Novo Nordisk sells insulin 36 35 35 4.3 4.3 4.4 4.0 Working the Novo Nordisk Way (employee engagement score) 62% 66% 70% 100% Diverse senior management teams Frequency of occupational accidents 3.5 3.61 3.61 Employee turnover 9.8 9.1 8.1 Warning letters and re-inspections 1 1 0 1. Comparative numbers have been restated

  9. Questions

  10. Technical priorities • BREAKTHROUGH PHASE • Provide guidance and examples • Gather Framework feedback • Demonstrate evidence base/business case for <IR> • Reduce barriers to implementation

  11. Projects • ONGOING • Monitor implementation • Examples database • Policy input • Business case/evidence • Academics • Other initiatives • SPECIFIC TOPICS • Megatrends, capitals and value • Value • Materiality and boundaries • Navigating <IR> • Public sector • Assurance

  12. Pilot Programme involvement • TASK FORCES • Subject-matter expertise • Regional representation • Stakeholder/functional balance • Skill set, gender, diversity

  13. Technical priorities Pilot Programme involvement Contact: michael.nugent@theiirc.org

  14. Technical priorities Pilot Programme involvement Contact: lisa.french@theiirc.org

  15. 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 scarcity

  16. Mega-trends, capitals and value • PROJECT OBJECTIVES • Root <IR> in business reality by connecting topical issues tothe six capitals andvalue creation • Raise profile of capitals that often go overlooked • Consider how integrated reports can demonstrate connectivityand address short- and long-term performance tradeoffs

  17. Pilot Programme involvement Contact: lisa.french@theiirc.org

  18. Materiality and reporting boundaries • PROJECT OBJECTIVES • Reconcile materiality determination approach defined bythe International <IR> Framework with those used in traditional financial and sustainability reporting • Illustrate link between materialityand conciseness • Showcase examples of materiality determination processes and the link to boundary determination

  19. Pilot Programme involvement Contact: lisa.french@theiirc.org

  20. Questions

  21. IIRC Pilot Programme Conference 2014 • Madrid, Spain • EurostarsMadrid Tower Hotel • Start at lunchtime on Wednesday 24 September • Finish at lunchtime on Friday 26 September

  22. Next webinar on Wednesday 7 May

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