Category

Moderate materiality

High materiality

Environment

Fuel management
Waste management and effluents
Biodiversity impacts

Greenhouse gas emissions
Air quality
Energy management
Environmental accidents and remediation
Water and wastewater management
Hazardous materials management (including waste)

Social Capital

Access and affordability
Data security and customer privacy
Fair disclosure and labelling
Fair marketing and advertising

Customer satisfaction
Community development (societal actions)

Human Capital

Diversity and inclusion
Recruitment, development and retention
Compensation and benefits

Employee health and safety
Employee engagement and wellness

Business Model and Innovation

Environmental, social impacts on assets and operations
Product Packaging
Product quality and safety

Sustainable business solutions

Leadership and Governance

Systemic risk management
Regulatory capture and political influence
Materials sourcing
Supply chain management

Management of the legal, ethics & regulatory framework
Process safety, emergency preparedness & response

Priorities

 

Process

Solvay bases its priorities for sustainability on a “materiality analysis.” This approach identifies critical economic, environmental and social issues with potential to significantly impact Solvay’s performance and/or substantially influence stakeholders’ decisions. The analysis is performed and updated each year according to the Sustainability Accounting Standards Board (SASB) approach.

The analysis is coordinated by Solvay’s Sustainable Development function with an internal network of sustainability champions in the business units and functions. Experts in each Corporate Function have reviewed the analysis of each aspect, and a particular attention has been given to consistency with the Group’s risk analysis.

Materiality analysis process

Materiality analysis process (graphic)Materiality analysis process (graphic)

Materiality analysis process

Indirectly taken into account:

  • through the exhaustive list of aspects of the SASB’s “Materiality Map™”
  • through the “evidence of interest criteria” which includes the analysis of documents published by each stakeholder group

Annual review led by the Sustainable Development Function

A review takes place after the report has been published, and the organization is preparing for the next reporting cycle. The findings inform and contribute to the Identification Step for the next reporting cycle.

Review our analysis by the Executive Committee and the Global Business Units and corporate functions leaders, give a special importance to ensure consistency with the analysis of the Group’s main risks and also compare with the result of the analysis of the SASB for the chemical sector.

SASB’s Materiality Map™ is based on tests designed to prioritize issues. To determine which sustainability topics were likely to be material to particular industries, SASB ran the following tests: evidence of interest, evidence of financial impact, forward looking adjustment.

The network of Solvay Way champions and internal experts for each highly material aspect were involved in the process.

Use of the SASB’s Materiality Map™

SASB's Materiality Map™ identifies likely material sustainability aspects on an industry-by-industry basis.

Reporting on the 13 High materiality topics and the 17 Moderate materiality topics.

2016 updates

The list of the Group’s main risks has been updated to reinforce consistency with the materiality analysis.

As in 2015, the wording of the material issues has been kept consistent with the SASB Materiality Map™, except in cases where the Group’s Executive Committee has made a decision to do otherwise during the validation step in order to broaden the scope of some material issues. For example, the high materiality issue labelled “Employee Engagement and Wellness” includes issues that are labelled “Labor Relations” and “Fair Labor Practices” in the SASB Materiality Map™.