of sales from solutions reducing world resources
Bonding across value chains to enable circular business
Chemistry is the key to the circular economy and we are convinced that enabling circularity is a major growth opportunity for our business. As some of the challenges we face go well beyond the impact of a single company, we work collaboratively with other organizations (such as the Ellen MacArthur Foundation) and with customers and suppliers. In 2020, we started to build circular ecosystems with key players in the value chain to invent sustainable solutions together. One example is our partnership with Veolia and Renault to enable the production of circular electric vehicle (EV) batteries. Overall we are achieving circularity by designing bio-based and recycled-based products, producing long-lasting materials or developing new chemical recycling processes.
Partnering with Mitsubishi for recycling advanced materials
Solvay began a partnership with Mitsubishi Chemical Advanced Materials to find solutions for recycling advanced materials, such as Polyetheretherketone (PEEK), which are used in many long-term implantable medical devices (e.g. for orthopedics, cardiovascular and dental applications). The combination of Mitsubishi’s mechanical recycling along with Solvay’s chemistry expertise in these advanced materials, will help overcome the challenges faced in these demanding applications.
Increasing sustainable solutions in our portfolio to ensure faster growth
We assess the sustainability profile of all our products, from innovation to end of life, using our rigorous Sustainable Portfolio Management (SPM) methodology, which is externally audited and has been recognized by the Harvard Business School. Our 10 year portfolio evolution towards more sustainable solutions*, aligned with key growth drivers, has already demonstrated higher growth potential, and we expect this trend to continue.
The challenges linked to the Covid crisis demonstrated that Solvay’s products are essential. Throughout 2020, we delivered new sustainable solutions and innovations to meet customers’ urgent needs. They will help us achieve our target of at least 65% revenue from sustainable solutions by 2030.
Share of products based on circular raw materials
or energy in Group sales by 2030
Share of sustainable solutions
in Group sales by 2030
Actizone™ innovation to aid the fight against Covid-19
Inspired by a need to find a solution for killing germs amid the Covid health emergency, Solvay quickly made launching Actizone™ a top priority. Actizone™ instantly destroys over 99.9% of microorganisms including coronaviruses for up to 24 hours. Trapped in a protective film, Actizone™ remains on surfaces releasing biocidal actives that instantly kill any germs introduced by fingertips or from aerosolization. Actizone™ is a unique sanitary hygiene solution compared to the disinfectants currently on the market which clean surfaces but do not protect them for longer periods.
* A Sustainable Solution at Solvay is defined as a product in a given application which brings higher social and environmental contribution to our customers’ performance and, at the same time, demonstrates a lower environmental impact.