Working Report no. 2, 2005

Environmental Shareholder Value

Abstract
The report illustrates the correlation between, on the one hand, the company's financial success expressed as Shareholder Value, and on the other hand, the company's environmental impact and environmental work. Furthermore, the report sheds light on the interplay between the company's environmental conditions, Shareholder Value and good Corporate Governance, as defined by the Nørby Committee's report on Corporate Governance. At the same time, the purpose of the report is to create a framework for the sub-elements of environmental economics in the company, from financial operation to investments and strategy.

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