Setting our priorities
In 2021, we renewed our approach to materiality. We widened our mapping of impacts, linked the materiality assessment to our stakeholder, strategy, and risk processes, and strengthened the connection between our material topics and performance management.
At Yara, we want to direct our attention and efforts to the topics that truly matter to our value creation and to our stakeholders. We are conscious of the fact that risks and opportunities can be material from both a financial and non-financial perspective, recognizing the concept of double materiality.
We therefore define material topics as matters that have the potential to affect our value creation, along with topics that represent actual and potential negative or positive environmental and social impacts related to our activities and business relationships.
We are transforming our business with the ambition of offering nature-positive solutions, which entails both new challenges and new opportunities.
Criteria used to prioritize topics
Importance to Yara
Scale: Significance of negative or positive financial impact
Likelihood: Chance of the negative or positive impact materializing
Importance to stakeholders
Importance of topic to stakeholders’ assessments and decisions about Yara
Thresholds
We applied thresholds for tier 1 and tier 2 topics. This tiered approach clarifies our prioritization of issues
Material topics
| Occupational and process safety Keeping all our employees, contractors and neighbouring communities safe and minimally exposed to risks generated by our processes. |
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People, Culture, and Leadership |
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Diversity, equity and inclusion Building a diverse and inclusive working environment and ensuring fair treatment and equitable opportunities for all employees. |
| Human rights and labour practices Respecting internationally recognized human rights along with all relevant labor rights throughout our operations and supply chain and maintaining good and constructive relations with our employees and their organizations. |
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| Health and well-being at work Maintaining a healthy workplace to protect and promote the health and well-being of employees considering both their physical and psychosocial work environment. |
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| Security, Emergency, and Data Privacy Protecting our people, environment, assets, and reputation from internal and external threats and potential emergencies. |
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| Product safety Taking proper care of our products’ compliance, quality, safety, and environmental footprint throughout the entire value chain. |
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Opportunities in clean tech Investing in implementing low-carbon and other environmental technologies in our operations and in our offerings. |
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Climate change |
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Sustainable farm management and regenerative agriculture Facilitating and supporting sustainable farming practices that impact positively on crop quality, GHG emissions, soil quality, and water use efficiency. |
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Energy Improving energy efficiency and defining the company position on sourcing of renewable energy. |
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Air, Water, and Waste We are working towards zero harm to the environment by protecting fresh air and clean water, by adopting the waste hierarchy, and by moving towards a circular economy. |
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Protection of ecosystems Supporting biodiversity and health of ecosystems by understanding and addressing the impacts of our operations and products to plants, animal species, and protected areas. |
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Profitability Sustaining profitability in our business and delivering superior shareholder returns based on reliable and cost-efficient operations, capital discipline, and global optimization. |
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Sustainable finance |
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Digitalization Applying digital technologies to improve our production, agronomy services and overall business. |
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Customer management Maintain reliability of supply despite unpredictable market conditions, maintain high quality of product and long-term customer relations. |
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Sustainable supply chains Understanding, managing, and improving environmental, social, and economic impacts along the value chain. |
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Socioeconomic impact on communities Empowering and caring for the communities in which we operate. |
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Business integrity Honoring responsible business conduct and promoting accountability by maintaining proper policies and practices, upholding a culture of respect, honesty and fairness, and contributing to transparency. |
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Regulatory changes and compliance Conforming to all applicable laws, regulations, standards, and voluntary commitments while keeping abreast of and prepared for new regulatory changes. |
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Board composition and oversight The extent to which the composition, role, and work of our Board of Directors is aligned with long-term value creation. |
Read more in Yara's 2022 Sustainability Report
