Solvay cares about stakeholders

Solvay has built solid relationships with its stakeholders, bonds that shape our insight into the challenges facing our customers and the trends forging new consumer needs. Customers, employees, investors, suppliers, local communities, the planet (through the governments and NGOs that represent it). The connections developed with these six stakeholder groups, and especially our people, form the foundation of our strategy and – through Solvay Way – the framework for our operations. Without them, Solvay could not develop the innovative solutions that help care for the planet and create value for all.

Solvay is constantly interacting with its stakeholders to understand and answer their expectations.

In 2018, their expectations confirmed a trend already observed in 2017: increasing focus on addressing climate change, offering customers innovative solutions with low environmental impact, and further increasing collaboration and transparency with stakeholders.

In response to stakeholders’ priorities, Solvay focused on three main areas in 2018:

  • Our new greenhouse gas absolute emissions reduction target of 1 million tons by 2025 was published on September 24, 2018.
  • Transitioning to circular economy is a key area for Solvay. In that context, our partnership with the Ellen MacArthur Foundation took its first steps, raising awareness of this challenge among our employees.
  • Solvay Way was fully updated. The new version of our sustainability reference framework focused on stakeholders’ expectations is available to all employees online. It highlights each Global Business Unit’s most material aspects.

    Solvay Way approach and management

Solvay’s priority SDGs

The United Nations’ 17 Sustainable Development Goals (SDGs) set the sustainability agenda for the governments and NGOs that Solvay has defined as our “Planet” stakeholder. The Group focuses on the seven SDGs where it believes it has the most impacts, positive or negative. These are SDGs:

Membership of associations
Materiality analysis
United Nations Sustainable Development Goals

(photo)

Engaging with our stakeholders

Customers

How we connect

  • Rating questionnaires (CDP, Ecovadis)

  • SPM profiles

  • Respective materiality analysis

  • Tech days

  • Direct contacts with Global Business Units’ sales & marketing teams

Stakeholder – Customers (icon)

42%

Net Promoter Score

50%

Sustainable solutions in Group net sales

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Main areas of interest

  • Steady increase in the number of customers assessing Solvay’s performance using the Ecovadis, CDP or other specific questionnaires, confirming an increasing focus on risks and opportunities in the supply chain
  • Strong focus on the need for innovative solutions in line with circular economy principles noted during interviews and direct contacts with customers

 

Employees

How we connect

  • IndustriAll agreement
  • Global Forum, work councils, employee representatives
  • Annual Solvay employee survey
Stakeholder – Employees (icon)

76%

Employee engagement index

0.54 per million hours worked

Occupational accidents at Group sites*

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Main areas of interest

  • Growing focus on sustainable development principles and interest in existing systems for professional development (Solvay’s annual employee survey)
  • Emphasis by employee representatives on the need to keep Solvay’s workforce engaged on sustainability principles, from top management to the shop floor

*rate of accidents with medical treatment, with or without work stoppage

Planet
(NGO & Governments)

How we connect

  • Dialog with governments and NGOs
  • Participation in global and regional trade associations (e.g. WBCSD, ICCA, Business Europe, and Cefic)
  • Membership of industry federations
Stakeholder – Planet (icon)

5.5 kg CO2eq. per € EBITDA

Greenhouse gas intensity

7 SDGs

on which the Group decided to focus

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Main areas of interest

  • Outcomes of the 2018 special report from the International Panel on Climate Change (IPCC)
  • United Nations Sustainable Goals (SDGs) confirmed as the new reference in reporting on impacts on society
  • Chemicals Industry an important enabler in the move towards a restorative and regenerative circular economy

Investors

How we connect

  • Engagement by Board of Directors

  • Direct contacts with investors and shareholders (Capital markets days, roadshows, shareholders meetings)

  • Rating agency questionnaires

Stakeholder – Investors (icon)

€2,230 M

Underlying EBITDA

5

extra-financial objectives, aligned with the financial agenda

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Main areas of interest

  • Sustainability and the need to focus on long-term value creation confirmed as high on investors’ agenda (Larry Fink (BlackRock)'s early 2018 letter to CEOs)
  • Importance of innovation, governance, ethics and transparency

Communities

How we connect

Varied engagement channels depending on location and local configuration, eg. isolated plant or industry complex

Stakeholder – Communities (icon)

33%

Employees involved in societal actions

€3,919 M

Solvay Group donations, sponsorship and own projects

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Main areas of interest

  • High sensitivity to local environmental and social issues
  • Expectations on Solvay contributions to local material needs
  • Importance of social media ability to make a local issue global

Suppliers

How we connect

Rating questionnaires (TfS, Ecovadis)

Stakeholder – Suppliers (icon)

40,000

suppliers

In 2018,

1,491

new supplier Assessments via EcoVadis and 358 TfS audits through the TfS Audit Program.

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Main areas of interest

  • Interest in more collaboration on planning, goal-setting and strategic thinking confirmed
  • Expectation of Solvay’s support in their day to day sustainability journey