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Norske Skog - Page 114

norske skog’s corporate social responsibility Norske Skog’s vision is to become a leading global player in the production of paper. This is an ambitious vision. This is not just about making paper and money, it is about how we do that. This is why we formulate visions and set targets for a number of areas which are affected by Norske Skog's paper production. e have chosen three core values which are meant to make it easier for us to achieve our vision in the daily work: Openness, honesty and cooperation. This annual reporting is just one of our many approaches to communicating with everyone with a vested interest in Norske Skog. In order to govern our conduct, we have prepared general guidelines, global policies and ethical guidelines, for everyone who works in Norske Skog. This document does not answer every detail but explains what we believe is right and wrong and where our priorities lie. In addition, we have prepared a set of standards for the entire group which makes a more detailed description of the frameworks for Norske Skog’s activities within certain areas such as information handling, how to handle the entertainment of customers and the giving and receiving of gifts. More information is available on our website www.norskeskog.com. A company which wants to comply with one set of rules while operating in four continents, where different languages and cultures create barriers to cooperation and understanding, faces considerable challenges. The purpose of general guidelines is to ensure that all employees understand what we expect from their conduct. These are not things one can simply adopt; they must be practiced and corrected, again and again. W than national rules. Norske Skog’s Code of Conduct includes rules for handling sensitive information, both as regards the group's daily activities (price negotiations, etc.) and as regards Norske Skog’s shares, which are listed on the Oslo Stock Exchange. Norske Skog’s Code of Conduct provides further guidelines for how the group's employees should handle gifts and entertaining, potential conflicts of interests between employees, and sponsorship activities. Furthermore, there is a general ban on all forms of bribes or corruption. Norske Skog actively follow up to ensure compliance with the framework adopted by the board through the code of conduct. This is primarily ensured through an open corporate culture where issues are discussed before they arise to avoid ending up in problematic situations. In addition, the group has established an international whistleblowing channel which makes it possible to blow the whistle (also anonymously) on potentially unethical conduct among the group's employees or representatives. The whistleblowing channel has been established in line with international standards for such systems, standards which aim to safeguard the interests of the whistleblower properly. contributions anD Distribution between eMployees, owners anD coMMunities Norske Skog has wide-ranging activities, creating income for many different parties. The most common approach is to consider the distribution of wealth between employees and owners, but the activities generate income for the community and other parties which far exceeds what the employees and owners receive. The illustration shows that out of NOK 20.4 billion in sales revenue, almost NOK 15 billion was spent on various goods and services. In addition, NOK 0.6 billion was invested in production facilities. Taxes and fees from the employees' wages and tax on the company's earnings was NOK 1.6 billion. The employees received NOK 1.9 billion after tax. The operation generated NOK 1.3 billion in cash. The calculation shows why large industrial companies are often mainstays of the local community. Should Norske Skog disappear from the economy, demand for NOK 15 billion in goods and services would also disappear. This means a lot to suppliers of goods and services such as wood and pulp, transport services, chemicals and energy, as well as contractors. The impact for the public authorities is both the direct tax income of NOK 1.6 billion from employees and the earnings of Norske Skog, but also the tax income from all activities which Norske Skog’s purchases generate. The overall importance of Norske Skog for society as a whole is therefore huge. Distribution of sales revenue in Norske Skog, 2009 (NOK billion) 0.6 1.6 1.9 1.3 coDe oF conDuct anD whistleblowing channel The first rule for all employees in Norske Skog is to abide by all national laws and regulations. Furthermore, all employees must stay within the bounds of Norske Skog’s internal regulations, which in many cases are stricter 114 // norske skog // annual report 2009 Purchase of goods and services Salaries after tax Taxes and fees Capital expenditures Cash from operations 15

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