Corporate Social Responsibility (CSR)
The Novo Nordisk Foundation’s funds are held by a wholly owned subsidiary, Novo A/S, which has a controlling influence in Novo Nordisk A/S and Novozymes A/S – together the Novo Group.
The Novo Group shares a joint set of values, ‘Charter for companies in the Novo Group’, which is established by the Novo Nordisk Foundation. Novo A/S ensures that the companies in the Novo Group are operated in line with the charter. The charter serves as a basis for the CSR policies implemented by the companies in the Novo Group.
CSR policies and follow-up measurements of corporate social responsibility have been introduced independently and are operationalised by the subsidiaries Novo A/S, Novo Nordisk A/S and Novozymes A/S. Their CSR reports comprise measurements of developments and results in accordance with the Danish Financial Statements Act and relevant, internationally adopted conventions.
The CSR policy of the Novo Nordisk Foundation is value-driven and focuses on the Foundation’s corporate social responsibility as regards the Foundation’s grants and management.
For the Novo Nordisk Foundation, corporate social responsibility involves awarding grants that support international high-quality research, commercialising research findings with an application-oriented potential, operating research hospitals and, to a lesser extent, supporting humanitarian and social purposes. The grants are awarded according to the following practice:
Administrative practice
The Foundation ensures that grant recipients, researchers and institutions etc. comply with international norms and rules on good research practice as set out in the Foundation’s standards for good research practice, including, in particular, with regard to safety and rights of clinical trial patients and healthy volunteers, anti-corruption, labour practices and working environment, animal testing and environmental protection.
The Foundation uses peer reviews to ensure that the grants support international high-quality research.
The Foundation maintains an open and honest dialogue with its committees and international peer reviewers.
The Foundation ensures that grant recipients are aware of the cornerstones of the Foundation’s grant activities.
The Foundation ensures that grant recipients use the grants as described in their application.
The Foundation ensures that grant recipients use and keep accounts of the grants in accordance with good accounting practice, are subject to audits and follow good research practice at a level corresponding at least to that required of government institutions.
The Foundation ensures that the grant recipients report on research results produced on the basis of the Foundation’s grants. Grant recipients receive appropriate guidance and instructions on how to meet this reporting duty. The Foundation operates an administrative system and internal controls ensuring that these obligations are met.
The Foundation ensures that the humanitarian organisations receiving its support focus on the health and welfare of people, are recognised, and publish audited public accounts. As regards the social purposes supported by the Foundation, it is important that they promote the welfare of people in Denmark. The Foundation receives reports on the use of these grants.
The Foundation ensures that its employees, in carrying out their duties, comply with the Foundation’s cornerstones for the team.
The administrative team of the Foundation and the administrative team of Novo A/S with which the Foundation shares its offices comply with the relevant guidelines on working environment etc.
The Foundation ensures that appropriate reporting of the Foundation’s CSR activities is incorporated into the Foundation’s official annual report.