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Novo Annual Report 2015
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csr
in novo
a/s c orporate social responsibility (csr) is an integral part of novo's value-based governance framework. the framework consists of four elements, which collectively set the direction for our company: ? charter for companies in the novo group ? novo's mission ? novo's cornerstones ? novo's investment
strategy in addition to setting the overall direction for the company and its employees, this framework provides guidance in good business conduct and csr. the charter describes the set of values shared by all companies in the novo group. constituting the foundation for each company in the group, the charter acts as a professional framework for novo group employees. the charter will drive the group's long-term sustainable development and growth ? and ensure its commitment to continuous improvement and reporting on financial, environmental and social performance. novo's mission is to represent the economic interests of the novo nordisk foundation. this includes management of the foundation's assets, ensuring the foundation sufficient dividends to cover its grant obligations, and maintaining our charter for companies in the novo group. novo's cornerstones are insight, professionalism, commitment and trust. these values guide our interactions ? internally and externally ? and direct our approach to management. novo's investment strategy sets the guidelines for the allocation of financial resources to our investment areas. it also describes the investment objectives and the governance requirements for each investment area. our approach to csr novo has four core beliefs in csr. complying with novo's mission and the vision of the novo nordisk foundation, these beliefs describe our approach and commitment to csr: ? responsible use of biotechnology in its broadest sense will benefit society at large as well as novo and its stakeholders. ? csr is a prerequisite for sustainable success and long- term value creation. ? csr will increase transparency, accountability and trust ? and thereby improve performance and reduce risk. ? csr will benefit society at large as well as novo and its stakeholders. to support the governance framework and enable regular reporting and monitoring of performance, novo has integrated csr into its general business and investment processes. this ensures value-based governance on a day- to-day basis. reporting on csr for 2015, novo has selected five csr focus areas. the focus areas represent the most important areas in which csr can impact the company's overall business performance. for each focus area, novo reports its policies, activities and the effect of these activities. to align our csr reporting with our overall business performance, novo re-evaluates and, if necessary, adjusts the focus areas, policies and activities each year. our activities in seeds, ventures, and large investments help to translate academic life science research into viable commercial products as well as commercialising such products. in addition to our financial commitment, we are actively involved in supporting our portfolio companies in setting up and developing their businesses. as part of our csr effort, we measure the financial performance as well as the progression of the research toward commercialisation ? e.g. how many of the novo portfolio companies? research projects have developed into marketed products. novo a/s 64 csr in novo a/s
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