In the context of the Covid-19 crisis, we saw an acceleration of the priorities in our Solvay One Planet sustainability roadmap published just before the pandemic. We continue to bond with our stakeholders, listen to their expectations, and build on their feedback to move forward. We are committed to working together to address our impacts regarding climate change (e.g. with customers and suppliers, to reduce the environmental footprint of our products), natural resources and quality of life.
Customers
How we bonded in 2020
- Comparison of respective materiality analysis
- Direct contacts with GBU teams (management, R&I, sales, supply chain)
- Rating questionnaires (CDP, EcoVadis)
- Sustainable Portfolio Management (SPM) profiles
- Net Promoter score (digital surveys every two years)
trigger
High materiality aspects
- Product design and lifecycle management
- Customer welfare
- Hazardous materials
Our stakeholders’ expectations
- Steady increase in number of customers assessing Solvay’s performance via EcoVadis, CDP, or specific questionnaires confirms focus on risks & opportunities in supply chain
- Increasing number of customers express need for innovative solutions in line with circular economy principles
Our responses
- About 120 customers representing about 20% of our sales require Solvayʼs EcoVadis evaluation
- Solvay in the top 1% of companies assessed by EcoVadis in the chemical industry
- 21 Key Account Managers to simplify customers access to the Group; optimized organisation to improve customer service, including in supply chain
- Launch of Solvay Green Hydrogen innovation platform with a new membrane technology (Aquivion®)
- Launch of two Solvay innovations to fight viruses
Our challenges
- EcoVadisʼ 360° screening identified controversies, fines or penalties over environmental/social issues in the last five years
- Reducing greenhouse gases Scope 3 emissions linked to processing, use and end of life of sold products
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Employees
How we bonded in 2020
- Solvay Solidarity Fund to enhance solidarity between employees
- Pulse surveys every six weeks to improve our people’s well-being
- Intense communication between CEO and employees using digital tools (Q&A sessions, virtual visits on sites) during the crisis and furlough
- Regular dialogue between Group managers and employees through Performance and Development annual appraisal
- Labor relations dialogue with employee representative bodies at four levels: site, country, Europe, and Group
trigger
High materiality aspects
- Employee health and safety
- Inclusion and diversity
- Employee engagement and well-being
Our stakeholders' expectations
- More transversality through breaking down silos
- Engagement on sustainability principles by employees from top management to shop floor
- The Covid-19 had a heavy impact, with the need to implement furloughs, and about 10,000 employees working remotely, 80% of them for the first time. Employees and managers had to adapt
Our responses
- €15M raised by Solvay Solidarity Fund, with financial and non-financial support given to 1,600 employees (6,200 people); more than 800 days off donated by employees
- Extended maternity leave time for coparents (Solvay Cares)
- Special Covid bonus
- Launch of Solvay CEO Sales Awards (annual)
- Creation of a Sales academy to boost sales teams’ skills
- Mobile working as Group global standard
- Global Performance Sharing plan
- 100% employees covered by collective agreement
Our challenges
- Implementation of our plan to better align the organisation with G.R.O.W. strategy (500 roles to be reduced by end 2022)
- Involve employees in Solvay One Planet initiatives, e.g. Stop Office Waste project
Investors
How we bonded in 2020
- Direct contact with institutional and individual investors and shareholders (digitally)
- Rating agencies questionnaires, credit rating agencies, proxy voting agencies
- Participation in diverse financial events via digital tools
- First Solvay ESG webinar
- Creation of Solvay Solidarity Fund by the Group together with shareholders
trigger
High materiality aspects
- Shared, sustainable value creation in the short, mid and long term
Our stakeholders' expectations
- Solid financial performance and consistent shareholder reward
- Sustainability and focus on long-term value creation
- Strong focus on innovation, governance, ethics and transparency
- Fast evolution of sustainability reporting frameworks, with the convergence announcement of CDP, CDSB, GRI, IIRC, SASB, and the announcement of IFRS of a possible involvement in extra-financial reporting
Our responses
- Launch of Solvay One Planet stepping up our sustainability commitemnts
- Dividend paid for 2019 with many investors donating up to 15% of the dividend final payment to contribute to the Solvay Solidarity Fund.
- Delivery on costs reduction and record cash-generation, with clear ESG credentials
- Portfolio simplification and accelerated transformation of the organization in ONE more agile and efficient Group
Our challenges
- Climate action confirmed as priority topic
- Facing challenging environment in key markets
- Impact of Covid–19 crisis
- Impact on reputation related to controversies due to effluents or emissions
Suppliers
How we bonded in 2020
- Regular Performance Review on site
- Supplier commitment to Solvay Supplier Code of conduct
- Corporate Social Responsibility questionnaire
- 3rd party assessments through EcoVadis and TfS
trigger
High materiality aspects
- Product design and lifecycle management
Our stakeholders' expectations
- More collaboration on goal setting, strategic thinking and sustainability
Our responses
- 473 core suppliers
- 1,730 suppliers assessed through EcoVadis. Solvay is the 4th best performer in terms of suppliers assessed amongst the TfS members.
Our challenges
- EcoVadis assessment recommended better documentation of sustainable procurement actions and third party due diligence on ethics
- Reducing Scope 3 greenhouse gases emissions linked to raw materials extraction and processing
Local Communities
How we bonded in 2020
- Engagement at site level within Solvay Way framework: developing and steering relationship with local stakeholders
- Annual Citizen Day at Group level
trigger
High materiality aspects
- Air quality
- Water and wastewater
- Waste
- Societal actions
- Critical incident risk management
- Hazardous materials
Our stakeholders' expectations
- Contribution to local material aspects
- Sensitivity to local environmental and social issues
Our responses
- About 4,700 employees worldwide virtually participated to Solvay’s 2020 Citizen Day on education, reaching about 190,000 students
- €100,000 donation to Indian guar farmers (from Solvay Solidarity Fund)
- €100,000 donation to renovate a hospital satellite in Solvay community in Devnya, Bulgaria, (from Solvay Solidarity Fund)
Our challenges
- Take action on biodiversity: monitor and reduce pressure on biodiversity beyond climate change
- Sensitive handling of social media, which can make a local issue global
- Controversies related to effluents or emissions
Planet (NGOs & Governments)
How we bonded in 2020
- Constructive dialogue with public authorities on issues of legitimate interest to Solvay
- Participation in global and regional trade associations: WBCSD, ICCA, BusinessEurope, CEFIC
- Partnership with the Ellen MacArthur Foundation
- Partnership with the Solar Impulse Foundation
trigger
High materiality aspects
- Greenhouse gas emissions
- Energy
- Pressures on biodiversity
- Management of the Legal, Ethics and Regulatory framework
Our stakeholders' expectations
- Acceleration of actions to reduce Greenhouse gas emissions and address climate change
- Confirmation of UN SDGs as reference for sustainability priorities at planetary scale
- Introduction of metrics to describe sustainable value creation as per WEF’s International Business Council (IBC) work on “Toward Common Metrics and Consistent Reporting of Sustainable Value Creation”
Our responses
- Confirmation of SDGs where Solvay can have most impact across the value chain: SDGs 7, 13, 14 & 15 on Climate; SDG 12 on Resources; and SDGs 3, 6, 8 & 17 on Better Life
- 10 ambitious goals defined through our new Solvay One Planet sustainablility roadmap
Our challenges
- Solvay One Planet targets
- Greenhouse gas emissions reduction: double reduction speed to align with “well below 2°C temperature increase” (2015 Paris Agreement) and achieve –26% by 2030 (Baseline 2018)
- Coal: phase out coal for energy by 2030 wherever available technologies and renewable or waste-to-heat sourcing exist
- Reporting of corporate metrics in line with the UN SDGs (WEF initiative)