Hydro is a leading industrial company committed to a sustainable future. On social responsibility we are progressing in our work to strengthen local community relations, communities and business partners through education and empowerment where we operate. The members of the committee are elected for up to two years at a time. Profits fell by 82%, but that's a much better result than many were expecting. We take inspiration from our ability to mobilize as we face another important transformation: The green transition. With us, youre part of a bigger story. PDF Hydro's Human Rights Policy - Norsk Hydro Consists of three of the Board of Directors' nine members. The members of the committee, including its chairperson, are elected by the general meeting of shareholders. We supply low-carbon aluminum to customers worldwide and offer renewable energy solutions to industries that want to power manufacturing in a greener way. with the general corporate governance report provided in Hydro's annual report for 2020. We are responsible for developing new business opportunities for Hydro within both renewable energy, hydrogen and batteries, and we provide support to the rest of Hydros business areas on contracts, security of supply and energy framework conditions. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. Combined, they produce about 9 terrawatt hours of electricity per year. The Annual General Meeting of Norsk Hydro ASA resolved to discontinue the Corporate Assembly on 10 May, 2022. A world of opportunities for students, graduates and professionals. Norsk Hydro assembly says has confidence in board | Reuters Matters under consideration at the general meeting of shareholders have not yet required this. Distributed by Public, unedited and unaltered, on 28 September 2022 06:15:02 UTC. The Hydro system is based on the delegation of responsibility to our business areas and to corporate functions that manage, among other areas, finance, tax and accounting. Our governance system enables us to operate efficiently, while maintaining the necessary oversight at executive and board levels. Norsk Hydro : Stock Market News and Information - MarketScreener.com 1910: What became of Professor Birkeland? Hydro is a leading industrial company committed to a sustainable future. A story shaped by you. UPDATE 2-Norsk Hydro assembly backs board, CEO to stay This is how we will create value going forward. Munch Thore has also held a number of board positions, and was the Deputy chair of Hydro's Corporate Assembly between 2014 and 2022. Norsk Hydro: Resolution from the Corporate Assembly 25 May 2021 Our purpose is to create a more viable society by developing natural resources into products and solutions in innovative and efficient ways. Norsk Hydro Oslo; Hydro Energy Belem; Hydro Energy Vigelandsfoss; Hydro Energy Rjukan; Elects the nomination committee and determines their remuneration, Deals with any other matters listed in the notice convening the meeting. We make this information available to all employees via our intranet. Munch Thore is a partner in the law firm Arntzen de Besche (from 2020). Our purpose is to create more viable societies by developing natural resources into products and solutions in innovative and efficient ways. The Corporate Assembly of Norsk Hydro ASA has in its meeting on 25 May 2021 adopted the following resolution related to remuneration to the Board of Directors and its preparatory bodies for the . Norsk Hydro : Changes in Hydro's Corporate Management Board, Europe Materials ETFs Slide as Metal Giants Take a Hit. We are a leading aluminium and renewable energy company that has created business opportunities for more than a century by developing products, solutions and industries that address global needs and demands. We take inspiration from our ability to mobilize as we face another important transformation: The green transition. Norsk Hydro : Changes in Hydro's Corporate Management Board September 28, 2022 at 02:16 am He will start the new position on November 1, replacing Helena Nonka, who has decided to pursue opportunities outside Hydro. corporate governance, environmental, social and financial statements. Many of the same technology elements were implemented in the upgrade at the Husnes aluminium plant in Norway, which is ramping up to full capacity after running at half capacity since the financial crisis in 2009. The foundation of our governance system is The Hydro Way, which represents our framework for leadership, organization and culture. Our climate strategy is to cut our CO2 emissions 30% by 2030. These power stations produce electricity for many of Hydro's aluminium plants in Norway. Investor contact: Line Haugetraa +47 41406376, Media contact: Halvor Molland +47 92979797 Cautionary note. Working on a story about aluminium? To tackle our global challenges, the world needs to produce and consume in new ways. Norsk Hydro: Trond Olaf Christophersen has been appointed Executive Vice President for Corporate Development in Hydro. The nomination committee's mandate expresses, however, the intention to "over the course of time balance the need for continuity against the need for renewal in respect of each governing organ." Norsk Hydro: Resolution from the Corporate Assembly 25 May 2021 Other board members participate as needed. With more than a century of experience in renewable energy, Hydro is one of the top three operators of power production in Norway, and a significant market player in the Nordics and Brazil. We have accelerated our improvement efforts in 2020. The audit committee assists the board of directors relating to the integrity of the company's financial statements and financial reporting processes and internal controls; the company's risk assessment and risk management policies related to financial reporting; the qualifications, independence and performance of the external auditor; and the performance of the internal audit function related to internal controls over financial reporting. The Annual General Meeting of Norsk Hydro ASA resolved to discontinue the Corporate Assembly on 10 May, 2022. The report is available in . Our ambition is lifting profitability and driving sustainability, creating value for all stakeholders. As a member of the CMB, the Chief Financial Officer (CFO) is responsible for the Enterprise Risk Management (ERM) function which, through the Head of ERM, develops Hydros central risk management framework. Information that Hydro must provide in accordance with the Norwegian Accounting Act, section 3.3b, is also included. How One Company Refused to Let Its Cyberattackers Win | Time With a new strategic direction, we embark on the next chapter in Hydro's history of building industries that matter and creating value by taking a lead role in the green transition, producing products and solutions for the low-carbon, circular economy, says Aasheim. Policies and tools - Norsk Hydro The directives address, among other things, strategy and business planning, finance, risk management, organizational and employee development, health, security, safety and environment, ethics, compliance and social responsibility. To learn more about The Hydro Way, clickhere. At the emergency meeting, Norsk Hydro executives made three swift decisions: They would pay no ransom, they would summon Microsoft's cybersecurity team to help restore operations and they would be fully open about the breach. Address Drammensveien 264, Oslo, 0283. We depend on different perspectives to build industries that matter for a more sustainable future. A story shaped by you. Our purpose is to create more viable societies by developing natural resources into products and solutions in innovative and efficient ways. This report is available in Norwegian and English. Hydro's overall goal is to create shareholder value through satisfied customers and motivated and competent employees. A friendly work environment of knowledgeable professionals. 2366 Press releases, photos, stories, facts and figures you will find everything you need here. Earlier this month, Norsk Hydro published its first quarterly report since it fell victim to a devastating ransomware attack in March. A story shaped by you. IT Governance Blog: Nyorsk Hydro refuses ransom demand The Hydro system is based on the delegation of responsibility to our business areas and to corporate functions that manage, among other areas, finance, tax and accounting. Hydro has been included in the Dow Jones SustainabilityIndices each year since the index series started in 1999. Our primary listing is on the Oslo stock exchange and subject to Norwegian securities legislation and stock exchange regulations. 2) "Making arrangements to ensure an independent chairman for the general meeting": Section 9 in Hydro's articles of association states that the general meeting is chaired by the chairperson of the corporate assembly, or, in his or her absence, by the deputy chair. The Corporate Assembly of Norsk Hydro ASA has in its meeting on 25 May 2021 adopted the following resolution related to remuneration to the Board of Directors and its preparatory bodies for the . He will start the new position on November 1, replacing Helena Nonka, who has decided to pursue opportunities outside Hydro. In addition, specific risk topics will be subject to more frequent updates. She will continue to report to Hydro CEO and President Hilde Merete Aasheim and becomes a formal member of Hydro's Corporate Management Board. Our primary listing is on the Oslo stock exchange and subject to Norwegian securities legislation and stock exchange regulations. The report is available in English. Its aim is to promote the potential of . Our governance structure is also based on Norwegian corporate law. Aasheim points to significantprogress toward Hydros ambition to lift profitability and drive sustainability. With more than a century of experience in renewable energy, Hydro is one of the top three operators of power production in Norway, and a significant market player in the Nordics and Brazil. We are responsible for developing new business opportunities for Hydro within both renewable energy, hydrogen and batteries, and we provide support to the rest of Hydros business areas on contracts, security of supply and energy framework conditions. The foundation of our governance system is The Hydro Way, which represents our framework for leadership, organization and culture. Hydro is a public limited company organized under Norwegian law. The board of Norsk Hydro ASA actively supports sound . You've reached the limit for free Overall Ranking scores. We have accelerated our improvement efforts in 2020. A friendly work environment of knowledgeable professionals. 1908: Of course the workers must have houses, 1905: A new working day 2 December 1905, Extruded aluminium profiles for LED lighting, International Council on Mining and Metals (ICMM), Letter to stakeholders: Unique position in a new reality, Lifting profitability, driving sustainability. Related documents:The mandate of the compensation committee (pdf), Please accept marketing cookies to view this content, The power of power - Hydro Energys history, Green and Sustainability-Linked Financing Framework, Invitation to Hydro's second quarter results 2023, Hydros roadmap to zero emission aluminium production, Proposal / request to general meeting of shareholders, Wide MPEs - aluminium profiles for battery cooling, Developing carbon capture and storage technology for aluminium smelters, HalZero zero-emission electrolysis from Hydro, Successful test operation cleaner fjord in Gunneklev, Using personal identification information, Norwegian code of practice for corporate governance, 2013: The world's biggest manufacturer of aluminium extrusions, 1996: Ormen Lange a fortune in the Halten bank, 1987: Cleaning up the dark side of industry, 1966: A unique collaboration between two men with quite different backgrounds, 1950: The metal is magnesium, the car is the Beetle, 1947: rdal: light at the end of a long tunnel, 1939: Holidays at Hydros cabins by the sea and in the mountains, 1930: Cooperation and market shares during the depression, 1919: Research as driving force and inspiration. Certain statements included in this announcement contain forward-looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Hydro management concerning plans, objectives and strategies, such as planned expansions, investments, divestments, curtailments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, and (i) qualified statements such as "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar. A story shaped by you. A world of opportunities for students, graduates and professionals. This March wereached another milestone with the finalization of the strategic reviewofthe Rolling business and with a conclusion to sell the business to the U.S.-based private equity firm KPS Capital Partners. Our aluminium can help you meet your goals, too. Hackers hit Norsk Hydro with ransomware. The company responded with Colonial Pipeline paid the attackers $4.4 million (with much of it recovered by the U.S. government) and the incident led to widespread gas shortages. She is currently a member of the board of directors for Odfjell Technology Ltd., Sandwater AS and Food Folk Group Holdings AS. Our purpose is to create a more viable society by developing natural resources into products and solutions in innovative and efficient ways. Our ambition is lifting profitability and driving sustainability, creating value for all stakeholders. Norsk Hydro Description Open Who Uses CSRHub and How Companies face a complex ESG landscape with many raters and little coherence. With a new strategic direction, we embark on the next chapter in Hydro's history of building industries that matter and creating value by taking a lead role in the green transition, producing products and solutions for the low-carbon, circular economy, says Aasheim. In Norway and Brazil about one full-time equivalent is dedicated to lobbying activities in each country. CSRHub's data and tools solve these problems. MT. Hydro interacts primarily with those decision-makers in countries where we have significant operations, such as Norway, Germany, France, Australia, Brazil, USA, as well as with regional structures like the European Union institutions. Governance of 2018. To tackle our global challenges, the world needs to produce and consume in new ways. The Corporate Assembly of Norsk Hydro ASA has in its meeting on 20 May 2020 resolved to elect Rune Bjerke as new member of the Board of Directors of Norsk Hydro ASA, with effect from 17. For more information, request a demo. 1910: What became of Professor Birkeland? Hydro has been included in the Dow Jones SustainabilityIndices each year since the index series started in 1999. We want to contribute to creating a fair society and circular economy by producing responsibly, delivering circular solutions, making net-zero aluminium by 2050 or earlier, and producing and using more renewable energy. We are a leading aluminium and renewable energy company that has created business opportunities for more than a century by developing products, solutions and industries that address global needs and demands. Most resources are dedicated for lobbying activities within the EU, Norway and Brazil. Hydro will now proceed with the purchase of all Alumetal shares, which were subscribed for sale. Our ambition is lifting profitability and driving sustainability, creating value for all stakeholders. 2004 Yara is listed on the Oslo Stock Exchange, following demerger from Norsk Hydro. The report is available in English. Hydro is also operator of the Tonstad wind park in Agder County. Henriksen is currently a board member for Ferd Holding AS, Eneti Inc., and Infranordic AS, and is a member of the Nomination Committee for Equinor ASA. Did you know? Press releases, photos, stories, facts and figures you will find everything you need here. We supply low-carbon aluminium to customers worldwide and offer renewable energy solutions to industries that want to power manufacturing in a greener way. It operates through the following segments: Bauxite & Alumina; Primary Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Appendix 2 - Norsk Hydro ASA - Remuneration Policy for executive management (adopted by the annual general meeting May 10 2022).pdf (pdf, 1.56MB) Related pages. A world of opportunities for students, graduates and professionals. Christophersen comes from the role of Senior Vice President and Head of Recycling in Aluminium Metal. To tackle our global challenges, the world needs to produce and consume in new ways. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream businesses; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors. Working on a story about aluminium? A learning culture of challenges, responsibilities and variety. Hydro is a leading industrial company committed to a sustainable future. We maintain uniformly high standards by utilizing common requirements across all sections of our business. Employee directors have no other service contractual agreements with the company outside of their employee contracts. Industry average is for the Please accept marketing cookies to view this content, The power of power - Hydro Energys history, Green and Sustainability-Linked Financing Framework, Invitation to Hydro's second quarter results 2023, Hydros roadmap to zero emission aluminum production, Proposal / request to general meeting of shareholders, Wide MPEs - aluminium profiles for battery cooling, Developing carbon capture and storage technology for aluminium smelters, HalZero zero-emission electrolysis from Hydro, Using personal identification information, Norwegian code of practice for corporate governance, 2013: The world's biggest manufacturer of aluminum extrusions, 1996: Ormen Lange a fortune in the Halten bank, 1987: Cleaning up the dark side of industry, 1966: A unique collaboration between two men with quite different backgrounds, 1950: The metal is magnesium, the car is the Beetle, 1947: rdal: light at the end of a long tunnel, 1939: Holidays at Hydros cabins by the sea and in the mountains, 1930: Cooperation and market shares during the depression, 1919: Research as driving force and inspiration. Our aluminum can help you meet your goals, too. Norsk Hydro: Election of members to the Board of Directors - GlobeNewswire Please agree to our use of cookies. Dcouvrez comment nous utilisons vos donnes personnelles dans notre Politique de confidentialit et notre Politique relative aux cookies. The directives address, among other things, strategy and business planning, finance, risk management, organizational and employee development, health, security, safety and environment, ethics, compliance and social responsibility. Hydro is headquartered in Oslo, Norway. We want to contribute to creating a fair society and circular economy by producing responsibly, delivering circular solutions, making net-zero aluminium by 2050 or earlier, and producing and using more renewable energy. Corporate Managers Benchmark against your peers Improve stakeholder communication Pinpoint ESG reporting gaps We are responsible for developing new business opportunities for Hydro within both renewable energy, hydrogen and batteries, and we provide support to the rest of Hydros business areas on contracts, security of supply and energy framework conditions. PDF CONSTITUTING DOCUMENT INTERNAL N - Norsk Hydro Elects the external auditor and determines the auditor's remuneration. A story shaped by you. She was appointed to the position in 2019 after serving as executive vice president and head of the company's Primary Metal business from 2008. I am happy that we exceeded our improvement target and achieved savings of NOK 4.2 billion for 2020, amounting to about half of the overall 2025 ambition. Rd Holm comes from the role as Senior Vice President Communication & Public Affairs. "The board of directors should establish guiding principles for how it will act in the event of a take-over bid": The board of directors has chosen not to prepare explicitly formulated general principles for handling takeover bids. The audit committee maintains a pre-approval policy governing the engagement of the company's primary and other external auditors to ensure auditor independence. The Hydro Way Compliance and . Consists of four of the board of directors' nine members. When you choose aluminium from Hydro, it's strong, light, durable and climate efficient, making you part of a smarter and more sustainable future. As a global energy and aluminium company, Hydro is committed to leading the way by creating more for less. It's engaged in energy to bauxite mining and alumina refining, primary aluminium, aluminium extrusions, and aluminium recycling. In addition, Hydro wholly or partially owns and operates 17 hydroelectric power stations. Our purpose is to create more viable societies by developing natural resources into products and solutions in innovative and efficient ways. Norsk Hydro: Annual report 2020 - Emerging stronger from an Nous, Yahoo, faisons partie de la famille de marques Yahoo. 2 producer in Norway) and hydroelectric power. 1910: What became of Professor Birkeland? The board of Norsk Hydro ASA actively supports sound management principles of corporate governance, and places emphasis on Hydro's compliance with the Norwegian Code of Practice for Corporate Governance and on explaining any deviations. He graduated from BI Norwegian Business School in 2004, specialising in finance and accounting. The code of conduct addresses compliance with laws and other matters, such as handling of conflicts of interest and our commitment to equal opportunity for all employees. Therese Rd Holm has been appointed Executive Vice President for Communication & Public Affairs, effective October 1. The commitments set out in this document are integrated into Hydro's Governance Documents.
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