Stakeholder engagement 

Stakeholders are indispensable to the current and future success of Novozymes. Therefore, we consider it important to listen, learn, and integrate stakeholder concerns into strategic decision-making.

Strategy

Novozymes has a long tradition of engaging with stakeholders and incorporating their key concerns into our core business practices, and our strategy is to continue to do so. Through our stakeholder relations management efforts and our sustainability offerings we are constantly looking for new partnerships with customers, suppliers, technology partners, and NGOs.

 

Initiatives & activities

Stakeholder mapping tool
As our organization becomes more global and complex, we recognize that a systematic approach to identifying and responding to our stakeholders’ concerns is important to our future success. As a result, we map stakeholders and their interests of relevance to specific issues when initiating new projects and activities. Our stakeholders are institutions and individuals in the private and public sectors, as well as in society at large, that influence Novozymes' business and vice versa. Examples of our stakeholders are customers, suppliers, employees, shareholders, and non-governmental organizations (NGOs).

Input to strategy development process
What we learn from engaging with our stakeholders is important input to our strategy development, thereby ensuring that our future activities are conducted in a responsible manner and that key stakeholder care-abouts are addressed. This in turn helps us to set direction in our business units and in geographical regions, and can drive formalized partnerships with customers, suppliers, technology partners, and NGOs.

Memberships and commitments
Novozymes is member of various international organizations and institutions where we learn and exchange information and best practices on various subjects. We also engage with stakeholders on a local level to ensure a focused dialog with stakeholders on regional issues. See the list of international and local memberships and commitments here.

 

Management principles & guidelines

Within the cross-organizational sustainability setup, including committees, responsibilities and processes, numerous formal and informal relationships exist to main stakeholder groups. In order to enhance our stakeholder engagement efforts the corporate Stakeholder Relations business unit is headed by an Executive Vice President and accordingly stakeholder relations management is anchored within Novozymes Executive Management. To effectively integrate sustainability across the organization the Sustainability Board is responsible for gathering input from key stakeholder groups to be taking into consideration in the strategy development and target-setting process.

 

Targets & KPIs

We strive to be a preferred partner and provider of biological solutions that can affect and drive the agenda for sustainable industrial solutions.

 

Performance