Our Triple Bottom Line
The Triple Bottom Line - our way of doing business
We believe that a healthy economy, environment and society are fundamental to long-term business success. This is why we manage our business in accordance with the Triple Bottom Line (TBL) business principle and pursue business solutions that maximise value to our stakeholders as well as our shareholders.
In practice, this means that any decision should always seek to combine three considerations: is it financially, socially and environmentally responsible? This way, we continuously optimise our business performance and enhance our contribution to the societies we operate in.
The Triple Bottom Line business principle is anchored in the Novo Nordisk Way and in our Articles of Association (bylaws) that state that Novo Nordisk ”strives to conduct its activities in a financially, environmentally and socially responsible way.”
The Triple Bottom Line maximises value
Doing business in a responsible and sustainable way, with a focus on improving public health, benefits patients, society and shareholders. By providing better treatment, raising awareness and advocating for earlier diagnosis and improved health outcomes, we enable people with chronic conditions to live healthier, longer and more productive lives. By promoting responsible and ethical business practices throughout our global value chain and continuously reducing the negative environmental impacts generated by our activities, we stimulate economic growth that is socially just and environmentally sustainable. Finally, TBL makes good business. It delivers long-term growth for our business by building trust, protecting and enhancing our licence to operate and attracting and retaining the best people.
Accountability is key
Exercising social and environmental responsibility is a business imperative and must be managed and accounted for in the same way as all other aspects of our operations. We set long-term targets for our social and environmental performance and have built the TBL principle into corporate governance structures, management tools and methods of assessing and rewarding individual performance. Overall responsibility lies with The Board of Directors, but every single Novo Nordisk employee is responsible for enhancing our financial, social and environmental performance.
Since 2004, the Novo Nordisk Annual Report has accounted for financial, social and environmental performance in one inclusive report. Read more in our annual report
Consistently high sustainability performance
Since the launch of the DOW Jones Sustainability Indexes (DJSI), Novo Nordisk has consistently been awarded scores in the top of the healthcare sector – either as number one or two. The Dow Jones Sustainability Indexes are the first global indexes tracking the financial performance of the leading sustainability-driven companies worldwide.
Following a review of its implications for Novo Nordisk’s long-term business, a strategy is framed for those issues that are deemed material and subsequently data, indicators and targets are identified. Once management of the issue has been embedded in the organisation, so that it is fully integrated into business processes, the strategy will be revisited as appropriate. Moreover, issues that are included on the learning curve are monitored as part of the integrated risk management process.