Influence and Responsibility

Influence and Responsibility

Sustainability - a "common denominator" for Corporate Social Responsibility

The use of the terms sustainable development and sustainability in this initiative does not attempt to explain whether the development of the Fjardaal and Karahnjukar projects is sustainable (no net loss of resources) but rather reflects Alcoa and Landsvirkjun's commitment to moving towards that goal through responsible construction and operation of the projects.

 

The companies have adopted the following Sustainability Objectives for the projects:

  • Respect and Protect People – Listen to and respect the views of the workforce and the communities around the projects and preserve their dignity.
  • Build Community Experience and Well-being – Contribute to improved quality of life, and build skills, knowledge, and experience in Iceland, while respecting the significance and diversity of Iceland culture and heritage.
  • Deliver Long-term Economic Benefit – Deliver economic benefits to the local communities of East Iceland and the nation of Iceland. Foster economic growth, generate wealth for the communities, provide commercial returns to shareholders, and contribute to long-term economic health.
  • Ensure Efficient Resource Use and Cleaner Production – Use natural resources wisely and manage our environmental impacts to the benefit of the full range of our stakeholders by employing leading technology and best management practice and by encouraging responsible design, use, and recycling of products and by-products.
  • Maintain or Enhance Ecological Integrity and Biodiversity – Maintain or enhance biological diversity and the fabric of ecological integrity in the environments in which the projects operate.
  • Meet the Needs of Current and Future Generations – Take a long-term approach to project activities and work in partnership with communities and governments to meet the needs and desires of today without compromising the ability of future generations to satisfy their own needs.
  • Encourage Stakeholder Involvement – Work with communities, employees, customers, stakeholders, and suppliers to achieve outcomes and make decisions of mutual benefit. Report regularly to stakeholders on the sustainability performance of our operations.
  • Maintain Accountability and Governance – Practice ethical business governance, be accountable for actions, continually improve performance and integrate environmental, social, and economic considerations in decision-making.

The indicators developed for this initiative will help measure Alcoa's and Landsvirkjun's performance at achieving these objectives on the Fjardaal and Karahnjukar projects.