Research, Reports & Publications

Novo Nordisk Publishes 2014 Integrated Annual Report Emphasising Long-Term Thinking

2014 integrated annual report measures and reports performance on all three bottom lines.
Feb 3, 2015 11:35 AM ET
Novo Nordisk's 11th integrated annual report.

February 3, 2015 /3BL Media/ – Today Novo Nordisk published its 2014 Annual Report detailing the company’s performance. The report highlights the company’s progression towards long-term targets taking an integrated approach that accounts for financial, social and environmental performance.

“Taking into consideration the financial, social and environmental bottom line is the best way to ensure we operate a healthy business for the long term,” says Jakob Riis, executive vice president, Marketing, Medical Affairs and Stakeholder Engagement. “Our business is about improving the health of millions of people living with a chronic disease. They rely on us, and they should know that we will be there for them with a long-term commitment to manage the company responsibly.”

The 2014 report explains Novo Nordisk’s commitment to prevent, treat and ultimately cure diabetes, including a look into the company’s new global initiative, Cities Changing Diabetes®, that addresses the link between urbanisation and diabetes. It is a partnership programme to identify and address the root cause of urban diabetes in major cities around the world. The ambition is to identify, share and develop solutions for healthier living – and prevent diabetes.

These are the highlights of the social and environmental performance in 2014:

Social

  • Reaching an estimated 24.4 million people with diabetes care products
  • Creating more than 3,000 new jobs in the company
  • Maintaining a high level of employee engagement and adherence to the Novo Nordisk Way

Environmental

  • Achieving the long-term target for reduction of CO2 emissions from energy consumption for production: 45% in absolute terms since 2004, despite
    more than 200% business growth
  • Continuing decrease in energy consumption; a decrease of 1% compared
    to 2013

The report also accounts for challenges. Water consumption increased by 10% compared to 2013, requiring continued focus on water stewardship. And the company’s diversity ambition to have representation of both genders and more than one nationality in all senior management teams by the end of 2014 was not achieved.

“When we measure and report performance on all three bottom lines we are better able to manage our impacts and steer the business to be more sustainable,” says Jakob Riis.

Novo Nordisk’s Annual Report 2014 is available as a downloadable PDF. Download the report

Reporting standards

In the absence of global standards for inclusive reporting, the report was prepared in respect of international standards for mandatory and voluntary reporting, including:

  • International Financial Reporting Standards (IFRS)
  • Danish Financial Statements Act
  • Reference to the content elements and guiding principles of the International Integrated Reporting Council’s IR draft framework
  • The accountability standard, the AA1000 (2008) Framework, which includes AA1000APS(2008) and AA1000AS(2008)
  • US Sarbanes-Oxley Act requirements for financial reporting
  • International Standards on Assurance Engagements (ISAE) 3000
  • Danish Corporate Governance Recommendations

In addition, Novo Nordisk publishes its Communication on Progress to the UN Global Compact, with a separate section in accordance with the Blueprint for Corporate Sustainability Leadership (LEAD), available at novonordisk.com/annualreport.

Novo Nordisk values feedback and welcomes questions or comments about its reporting and performance at annualreport@novonordisk.com.

 

About Novo Nordisk

Headquartered in Denmark, Novo Nordisk is a global healthcare company with more than 90 years of innovation and leadership in diabetes care. The company also has leading positions within haemophilia care, growth hormone therapy and hormone replacement therapy. We believe that a healthy economy, environment and society are fundamental to long-term value creation. This is why we manage our business in accordance with the Triple Bottom Line business principle and consider the financial, environmental and social impact of our business decisions. The strategic commitment to corporate sustainability has brought the company onto centre stage as a leading player in today’s business environment, recognised for its integrated reporting, stakeholder engagement and consistently high sustainability performance.

For more information, visit novonordisk.com/sustainability