Our Social Responsibility

At Ósar, we are proud of our role in promoting better health and a healthy lifestyle. On a daily basis, we work on the important task of ensuring that Icelanders have access to vital medicines and medical devices and thus play an important role in the Icelandic healthcare system. We are a leading force in the sale and marketing of a variety of health-promoting products related to sports, exercise, supplements and healthy eating. Social responsibility is thus intertwined with the purpose and goals of the operations, which is reflected in health-related emphases and culture in all our internal work.

Proud of Our Success

Ósar’s and its subsidiaries’ Sustainability Report gives a clear view of the operations and the important role that the companies play in society. This is a comprehensive summary of the Group’s diverse projects that support social responsibility and sustainable development.

The report covers all operations of Ósar and its subsidiaries and is based on the operating year 2021. It is prepared internally, by experts in the relevant fields, and all the information is in accordance with the knowledge we have at the time that the report was written. Thus, it is not an exhaustive examination of all the effects that the Group has on its environment, community and/or governance. Ósar has not commissioned a special audit of the information and data provided.

The information in the report either covers the Group as a whole or is presented for each company as appropriate at any given time. Mannvit has reviewed the information on environmental aspects and the presentation of the report as a whole.

We Are Going to Do Even Better

The purpose of the Sustainability Report is basically to summarise our success, and we are very proud of what it shows. However, we are determined to do even better, but we are aware that social responsibility and sustainable development are a constant journey that calls for an overall vision and long-term thinking. We believe that with a concerted approach and prioritisation, continuous improvement, goal setting, performance measurement and ongoing education and information provision, we will be able to further implement our emphases. Ósar and its subsidiaries have established a policy on social responsibility and sustainable development that covers the Group as a whole.

Director’s Address

Hörður Þórhallsson

The Board of Directors of Ósar and its subsidiaries is aware of the Group’s social responsibility and increased demands for sustainability and entrusts the CEO of the Group to lead that journey.

The five pillars of corporate social responsibility and sustainable development. 

Underlying Global Goals

We want to do our part to promote development that meets the needs of the present without compromising the potential of future generations. The United Nations’ Sustainable Development Goals are the Action Plan for all of us. Ósar places special emphasis on four Sustainable Development Goals, which form the basis for the Group’s strategy and goal setting for the future.

Our Sustainability Settlement

The presentation and dissemination of information is based on the UFS criteria and guidelines of Nasdaq in Iceland for companies on the publication of information on social responsibility. We use the UFS criteria as a support tool for disseminating information in a transparent and comparable way, and we regard the results as a kind of performance indicator for sustainable development at the Group.

The settlement shows results for each company within the Group, but LYFIS’ results are summarised with Icepharma’s results, as the company is a subsidiary of Icepharma and operates as a division within Icepharma’s pharmaceutical division. In accordance with the guidelines, the results of the Group’s Sustainability Settlement for the operating year 2021 are divided into three components: