2022 Yara Integrated Report 2022

Yara launched its new ambition statement, ‘Growing a Nature-Positive Food Future’, with last year’s integrated report. During the past year, we have worked on putting our ambition into action. This work has been developed under drastically changed conditions, from Russia’s war on Ukraine, through disruptions in supply chains, to unprecedented volatility in energy and commodity prices.
Throughout 2022, Yara’s people, culture and business model have continued to create value for our shareholders as well as for farmers, suppliers, and other important stakeholders. Yara’s ability to sustain supplies and keep providing our crop-nutrition and industrial solutions to the markets is based on our integrated business model, operating a worldwide production, trade, and marketing system. This means that we can keep our focus on maintaining supply of Yara’s vital solutions to customers and securing continuity throughout the supply chain.
We are concerned about the impact of the current crisis on the food value chain, with high food prices for consumers, and availability and affordability of fertilizers being a substantial challenge to farmers worldwide. While increasing prices for fertilizers help Yara’s profitability, we have made efforts to support the farmers hardest hit by the crisis. This has happened through market design models enabling discounts for fertilizers and making digital tools available for farmers at no cost.
While we face many risks and uncertainties in the current context, we have made progress towards Growing a Nature-Positive Food Future. Among our key contributions this year, this report gives insight into:
• How Yara has adapted its operations to tackle a challenging environment, ensuring sustainable value creation for investors, farmers, suppliers, employees, and society at large
• How we have used the challenges presented to strengthen our efforts to decarbonize our business
• New partnerships that move us closer to delivering on our Ambition, including through Yara Clean Ammonia
• Strengthened efforts to protect and restore nature with a spe- cific focus on solutions in the value chain where it matters the most – in the field
• Continued efforts on People, through stronger engagement and development of our employees, follow-up on Safe by Choice, and actions on human rights and ethics
• Increased efforts to reach more farmers and communities to improve nutrition and quality of life through our global scale.
This year has underscored how important the security of fertilizers, food, and energy really is. Our employees have demonstrated tremendous agility and commitment to our mission. As Yara, we have proved the solidity of our business model, and our collective ability to deliver on our ambition. By providing innovative, climate- and nature-friendly solutions for farmers, food companies and other energy-intensive sectors, Yara will follow through on its commitment to sustainable value creation and a decarbonized and nature-positive future.

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