Notes to the Social Capital
7. Social Capital
This chapter on social capital discusses Solvay’s perceived role in society, i.e. expectations of what Solvay will contribute to society in return for its social license to operate. It addresses the management of relationships with key outside stakeholders, such as customers, local communities, the public, and the government.
Solvay partners with the Ellen MacArthur Foundation: a bold step towards a circular economy
Solvay has taken action to accelerate the transition towards a circular economy by signing a three-year partnership agreement with the Ellen MacArthur foundation. The Group is the only multinational chemical company among the foundation’s Global Partners, which include Danone, Google, H&M, Intesa Sanpaolo, Nike, Philips, Renault, and Unilever.
Through this partnership, Solvay will explore solutions that adhere to the principles and requirements of the circular economy by leveraging the internal mindset and driving concrete business projects. The Group generated almost half of its 2017 revenue from sustainable solutions – including those aligned with the circular model’s requirements – by using efficient manufacturing processes and renewable energy and materials, and by designing smarter solutions for customers to help reduce resource consumption, encourage the re-use of materials, and extend the product life cycle.