In 2018, a number of key executives made presentations to the Board on strategy, business and functional topics, making sure the Board stays familiar with and informed on topics that are relevant and important for the Group, even though they do not require immediate decisions.
The Board of Directors visited the industrial and research sites at: Tavaux and Research and Innovation Center Lyon (France). This trip gave the Board members the opportunity to meet local operational teams and come face to face with the reality of the sites’ business and industrial conditions.
Every year the Board dedicated a specific session to an update on trends in global sustainable development issues (including climate change risks and opportunities) that impact the Group, its actions, and its performance – including progress on Solvay’s five priorities, ratings by sustainable rating agencies, the Solvay Way, and the Integrated Report. This year the session focused on the changing context of sustainability (IPCC Report 2018 and the Science Based Target Initiatives).
The Board of Directors specifically endorsed the new objective for absolute reduction of greenhouse gas emissions (1 MT by 2025 compared to 2017 at constant scope). It was also kept up to date with a review of priorities for 2019, including the deployment of the Group’s Climate Plan, the launch of circular economy projects, and the deployment of Solvay Way 3.0.