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Geïntegreerde Verslaggeving Umicore. Dr Bert Swennen Director Environment, Health & Safety Maatschappelijk Verantwoord Ondernemen doenbaar en zichtbaar maken in Vlaanderen - 26-27 januari 2012. Introductie Umicore “A materials technology company”. Umicore’s business model.
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Geïntegreerde Verslaggeving Umicore Dr Bert Swennen Director Environment, Health & Safety Maatschappelijk Verantwoord Ondernemen doenbaar en zichtbaar maken in Vlaanderen - 26-27 januari 2012
Umicore’s business model • We transform metals into hi-tech materials • We use application know-how to create tailor-made solutions in close collaboration with our customers • We close the loop and secure supply by recycling production scrap and end-of-life materials • We aim to minimize our environmental impact and be the best employer and neighbour Application know-how materialsolutions ChemistryMaterial scienceMetallurgy Materialsolutions Metals Recycling
Umicore is a global leader in… … automotive catalysts for passenger cars … key materials for rechargeable batteries used in hybrid & electric cars and portable electronics …germanium substrates and other materials which are used in new PV technologies ... recycling precious metals from old mobile phones, laptops, electronic scrap and spent catalyst material
Energy Materials • We develop materials which enable the clean production and storage of energy Umicore’s businesses aligned with key societal trends to a more sustainable society Catalysis • We develop technologies to treat automotive emissions The business is driven by the demand for clean, low-carbon energy solutions The business is driven by increasingly stringent emission norms to promote clean air Recycling Performance Materials • We operate a unique recycling process to deal with complex industrial residues and end-of-life materials • We produce a range of essential materials and chemicals based on precious metals and zinc Diverse applications:e.g. high-purity glass, construction, pharma, electrics/electronics The business is driven by materials scarcity and recycling legislation
Operational Group SD objectives: “Great place to work” ZERO lost time accidents We aim to have ZERO lost time accidents We will reduce the body concentrations of specific metals to which our employees have an exposure: Cd, Pb, Co, Ni, As, Pt Occupational exposure reduction People development All employees will receive an annual appraisal to discuss individual development Preferred employer We will target our actions based on the results of the 2010 People Survey. Subsequent surveys will be used as the benchmark to measure future performance
Operational Group SD objectives: “Eco-efficiency” Reduce carbon footprint We will reduce our CO2 emissions by 20% vs year 2006 levels Emission reduction We will reduce by 20% the impact of metal emissions to water and air vs year 2009 levels Product sustainability We will invest in tools to better understand and measure the life cycles and impacts of our many products
Operatinoal Group SD objectives: “Stakeholder engagement” Sustainable procurement We will implement the new Sustainable Procurement Charter in all BUs and Corporate P&T Local community All our sites will be expected to make further steps in identifying key stakeholders and engaging with the local community
Recognized for leadership in sustainable development (SD) Persmededeling 25 januari 2012 Umicore opnieuw in top 10 van ’s werelds meest duurzame ondernemingen
Our reporting journey aligns with different stages of the company Pre 19991999-20042006-2010 Separate Financial and Environmental Report Financial report Combined Report to Shareholders and Society business, social, environmental performance Building for the future Increasing focus on clean technologies Industrial Plan Laying the foundations for financial survival Transformation Transforming divestments and acquisitions Product focus Build the downstream product businesses
Some characteristics of the report • Combined report: business, environmental, social • Report according to the GRI reporting guidelines • 2006 “inspired by” • 2007: C+ • 2008-10: B+ • Externally verified (ERM CVS) • Broad target audience – all things to all people • Is presented at : • AGM • external stakeholder meetings (2005 - 2008)
Some characteristics of the report (cont’d) • Both successes and failures • Balanced reporting Sustainability section: • Environmental and social (including Health & Safety) policies and long term targets • Performance • Progress made on remediating the Umicore’s historical legacy • Progress towards the Group Objectives Umicar 2007 runner up of 3000 km race
What’s next? From ‘combined’ report to ‘integrated’ report Since 2005 Umicore had produced a “combined” report that contains economic, social and environmental elements in 1 document yet still in separate sections Integration > 2011 Report Guidance by KPMG (member of IIRC) 15
One, integrated sustainable development strategy…. = Why integrated reporting? • Integrated approach reflects Vision 2015 • Integrated objectives • More ownership at business unit level • Reflects our drive for multi-dimensional performance
Why integrated reporting? 2009 external stakeholder dialogue identified the following areas for improvement: Better integration of data incl. at segment level Better information on what Umicore is / does Better information on the sustainability contribution of Umicore Better access (“drillability”) to data 17
Integrated reporting: concept • Shorter strategic report (print) • Explains the strategy, high level performance, what we do • Integrated data • Progress against the Group objectives • Integrated statements • Combines: financial statements / notes, social and environmental performance data and narrative • Governance / risks / stakeholder section
Integrated reporting: structure Strategy Statements Gov Risks Stakeholders Print On Demand Legal doc 19
Some characteristics of the integrated report • Umicore is commited to external verification • Addresses materiality and relevance • Focuses on accuracy, completeness, reliability, consistency, clarity of data • Ensures proper balance • Important • External verification cannot replace internal quality control • New verification cycle 2011+ • PwC now auditing financial AND environmental / social elements • We will continue using GRI in new reporting concept (B+, >2012: A+?) • We will monitor closely the evolution to G4
Reporting challenges and opportunities • Challenges: • Integrated reporting is greater in its complexity than combined reporting • Greater need to integrate the work and priorities of many expertise areas: BUs, HR, EHS, P&T, Comms • Greater demands on business units’ internal reporting systems • Need to balancing reporting on Vision 2015 objectives vs other KPIs (many of which are very material for the business) • Opportunities • Greater alignment with strategy • Offers better accessibility for stakeholders (readers) • Different layers of data • Promotes business ownership inside Umicore • Brings Umicore to life
Thank you. “Our materials are used on earth and beyond” Umicore produced the germanium based substrates for the solar cells powering the Mars module. bert.swennen@umicore.com