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 large role in the Icelandic healthcare system. We are a leading force in the sale and marketing 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 work.

Address by the CEO

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. 

Ósar and its subsidiaries have established a policy on social responsibility and sustainable development that covers the Group as a whole. The policy is based on four main pillars that formulated the focus of the Group, and the goals and key projects that are being worked on at any given time.

In policy formulation and goal setting, the United Nations’ Sustainable Development Goals are used as a guiding light. We have chosen to put special focus on the four following global goals:

Proud of Our Success

We are aware that social responsibility and sustainable development are a constant journey that calls for an overall vision and long-term thinking. We also 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 and policies.

Ósar’s and its subsidiaries’ Sustainability Report gives a comprehensive summary of the operations and the various project of the companies that support social responsibility and thus gives a clear view of the operations and the important role the companies play in social respect.

  • This is the second time we have published the Group’s sustainability report, which covers all operations of Ósar and its subsidiaries and is based on the operating year 2022.
  • 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.
  • On the basis of the main pillars that the social policy of the Group is based on, and in accordance with the global goals we have decided to emphasise, the report is divided into 4 chapters: health, society, governance, and environment.
  • 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 Consulting Engineers has reviewed data and information on the environmental factors that the climate accounting of the Group is based on. In other aspects, Ósar has not commissioned a special audit of the information and data provided.

Our Sustainability Settlement

We use Nasdaq’s UFS guidelines for companies as a support tool in preparing the report and to disseminate and publish information about the sustainability settlement of the Group. The settlement shows the results of the three main factors of the UFS sustainability criteria in a transparent and comparable way. The settlement’s results are summarised for each individual company within the Group and serve as performance indicators for sustainable development with the Group. In accordance with the guidelines, the results for the operating year 2022 are divided into three components: