Specific Standard Disclosures

  • Economic Performance

    201 Economic Performance

    103 - Generic Disclosures on Management Approach

    See Annual report page for details concerning our management approach within the economic area, including 201-1, 2, 3 and 4.

    201-1 - Direct ecenomic value generated and distributed

    See Annual report. page 13.

    201-2 - Financial implications and other risks and opportunities due to climate change

    Extreme weather conditions in the form of storms, flooding and extreme heat or cold represent a risk of damage to property and entail an increased risk of damage to the environment in the form of spills, unplanned discharges and leakage. They could also lead to stop in production and lowered delivery capacity.

    Risks of damage and loss can be minimized using NIBE risk analyses and preventive measures and by being prepared. NIBE has global insurance cover for major losses caused by natural disasters. We see business opportunities as many of our products contribute to the transition to a less carbon intense society.

    201-3 - Defined benefit plan obligations and other retirement plans

    See Annual report page 99.

    201-4 - Financial assistance received from government

    Not reported.

  • Market Presence

    202 Market Presence

    202-1 Ratios of standard entry level wage by gender compared to local minimum wage

    Not reported.

    202-2 - Proportion of senior management hired from the local community

    Not reported.

  • Indirect economic impact

    203 Indirect economic impact

    203-1 - Infrastructure investments and services supported

    Not reported.

    203-2 - Significant indirect economic impact

    See Annual report page 13, 31.

  • Procurement Practices

    204 Procurement practicies

    204-1 - Proportion of spending on local suppliers

    The proportion spent on local community suppliers is 7 percent of total spend.

  • Anti-corruption

    205 Anti-corruption

    103 - Generic Disclosures on Management Approach concerning anti-corruption

    "We must comply with applicable legislation and have zero tolerance for bribery and corruption. We must also communicate honestly" is the essence of NIBE Sound Business ethics.

    Our values is available at

    NIBE has a Group policy on gifts, where employees get practical guidance concerning giving or accepting gifts, hospitality and other benefits. The policy is available on the intranet and the implementation is checked in connection to site visits.

    Incidents and/or grievances are reported to Business area manager or anonymously through our Whistleblowing system, provided by a third party. 

    205-1 - Operations assessed for risks related to corruption

    NIBE has adopted a risk management tool to help its businesses manage their compliance risks. All companies within the Group use this tool to assess their risks.

    NIBE has identified risk exposure for our sales and purchasing departments, and in B2B projects.

    205-2 - Communication and training on anti-corruption policies and procedures

    We provide a Group wide ethical business and anti-corruption e-learning. It is case based with realistic situations, where the attendant must take decisions how to act. It is effective as it involves the participant who gets immediate feedback.

    3,755 (3,100) employees have completed our training at least once. The training is mandatory for all employees exposed to corruption risks in any form.

    Besides the factual knowledge of legislation and how to act in certain situations, one goal of the program is to create awareness of the serious effects of unethical business behavior - for the individual, the company and society. Employees are also informed of their responsibility to seek advice and to report any situation that might occur.

    205-3 - Confirmed incidents of corruption and actions taken

    No incidents reported during 2017.

  • Anti-competitive Behavior

    206 Anti-competitive behaviour

    103 - Generic Disclosures on Management Approach concerning anti-competitive behavior

    If a situation of a complex nature should occur in connection with a business transaction with risks connected to anti-competitive behavior, we seek advice from legal advisors specialized in this subject to make sure we make the correct decisions.

    206-1 - Total number of legal actions for anti-competitive behavior

    No legal actions for anti-competitive behavior occurred during 2017.