The rationale for Novo Nordisk’s stakeholder engagement is very simple. We must learn stakeholders’ trust to run a successful business. By meeting stakeholders – whether on their turf, at Novo Nordisk or in the public domain – with an open mind we pursue our business interests while balancing concerns for the community of which we are part. Partnerships are a vital ingredient in this approach.

Stakeholders (click to see illustration)
Examples of stakeholder engagement (click to see overview)
Benefits and success criteria (click to see list)

Collaboration rather than confrontation is an innate attitude on which Novo Nordisk bases its business conduct. Novo Nordisk has been systematically engaging with stakeholders for decades now. We see many benefits to engaging with doctors, nurses, patients, NGOs, neighbours, governmental regulators and other key stakeholders. Not only are they vital to helping us build trust and understanding of a variety of important issues, but by involving stakeholders in the decision-making processes, decisions are better founded, and solutions more likely to succeed.

Increasingly, we move from dialogue to partnerships built on mutual respect and trust. It takes both time and commitment to build successful partnerships, with clear and transparent rules of engagement. Yet, once established, a partnership is a way to exploit opportunities and together bear risks and responsibilities on the way towards shared goals. And its proof of success is that its outcome benefits society, our business and that of our partners.

As a healthcare company Novo Nordisk engages in activities where our values and principles are put to the test almost every day. As companies are increasingly expected to take a position and act on societal matters, we need to stay tuned to the ‘hot issues’ on the global agenda and contribute to the debate. Proactive stakeholder dialogue facilitates a mutual improvement of understanding of difficult issues. In this two-way learning process, we have the opportunity to exchange opinions or receive advice from stakeholders who often consider the issues and dilemmas we face from a different perspective than ours. Consequently, we are continuously challenged to do better.

Reporting is just one element of our stakeholder engagement. In itself, presenting performance, positions, strategies and new targets – as we do in our annual corporate and site reports – does not affect the nature of relationships with key stakeholders. However, it supports our goal of being transparent by improving access to information about our company, and we use it actively as an invitation to dialogue. The internet version of the report offers opportunities to seek more information of particular interest to individual stakeholders, such as detailed performance data.

The World Summit on Sustainable Development (WSSD) 2002 was a test of business commitment to make real changes. While many businesses have adopted more sustainable practices and become more transparent, many stakeholders remain sceptical and express little trust in business. To address these issues, Novo Nordisk initiated and cohosted a workshop at the WSSD with Deloitte Touche Tohmatsu and the University of Cambridge. Delegates from business, the NGO community, governments and the public sector were invited to contribute to the debate.

The well-attended workshop addressed questions such as “What challenges does the sustainability agenda pose for the corporate world – what are the dilemmas associated with trust building, transparency, inclusiveness and assurance?” What emerged clearly from the discussions is that the need to build trust between business, government and NGOs demands new approaches on all sides. In the panel discussion, Lise Kingo, executive
vice president of Novo Nordisk, stressed the need for a constructive interaction with stakeholders. “Trust is gained by a willingness to deal with dilemmas,” she said, referring to the need for a paradigm shift in businesses’ approach to sustainability, in which multi-stakeholder dialogue and partnerships are key ingredients.

Political indifference, particularly among young people, is a huge challenge to democracy. In Europe, the enlargement of the European Union has accentuated a debate on the future of Europe and the role of governments and institutions vis-à-vis their constituencies.

Novo Nordisk has taken up the commitment to engage young people in shaping our future. We need to understand their views, learn from their thinking – and earn their trust.

Bridging Europe is a pan-European initiative launched in 2001 by the World Economic Forum and the Danish thinktank Mandag Morgen. Novo Nordisk is a co-founder and main sponsor of the programme. Its ultimate objective is to help shape a sustainable Europe through multi-stakeholder engagement.

A host of activities, including an interactive website, building a web community of 1,000 young Europeans from 33 countries, serve to mobilise young Europeans. At the World Economic Forum’s summit in Salzburg in 2002, their vision for Europe was presented: get the basics of Europe and European institutions right and put them into real practice – then build an elaborate political architecture. Their Europe is one where citizens feel a sense of community, have shared political values and have trustworthy institutions.

While many actors are putting a great deal of effort into making sustainability a reality, global divides keep widening, making the target as distant as ever. Through partnerships, we can help change direction, identify and harness opportunities and navigate confidently.

The Nordic Partnership, of which Novo Nordisk is a cofounder and main sponsor, builds on the best of Nordic values: democracy, transparency and openness. As a Worldwide Fund for Nature-led initiative, supported by the Danish thinktank Mandag Morgen together with 17 companies based in the Nordic countries, it aims to integrate sustainability into core business.

The partnership presented its report on members’ experience and recommendations for a business case for sustainable development at the WSSD. The initiative was well received as an example of better practice in committed partnerships.

The partnership members have signed up to a manifesto which is a commitment to form strong multi-stakeholder partnerships to work towards sustainable development, to call on
others to create changes in market regulation to reward sustainable business practice, to raise awareness and to encourage governments, media and NGOs to stimulate and educate the public.