Translations

SOLVAY implement a sustainable development approach

1. Organizational Governance

Strategy and organization

Sector Industry

Year 2016

Country Belgium

Transmitter

Context

As an international chemical group, SOLVAY assists industries in finding and implementing ever more responsible and value-creating solutions. Solvay generates 90% of its net sales in activities where it is among the world's top three players. It serves many markets, varying from energy and the environment to automotive and aeronautics or electricity and electronics, with one goal: to raise the performance of its clients and improve society's quality of life.
Solvay that stays in the chemical industry, with its upstream position in the overall production chain, should play an essential role in providing sustainable and eco-friendly solutions.

Objectives

Build a new business model of sustainable chemistry which will create new opportunities
Create shared value by stakeholders
Ensure investors’ and shareholders’ benefit
Contribution to environment and future generations

APPROACH

Solvay Way was launched by Solvay in 2013 as company’s global sustainable approach. This approach ensures that sustainable development commitments enter into all Group strategic decisions and a portfolio management program identifies sustainable business opportunities. In this approach, the compensation system will offer 10% of annual variable bonus of the 7,500 managers and of CEO related to CSR criteria.

Committed to stakeholders:

(1) Employee: High ethical standards and safety guarantee
(2) Communities: Integration of company entities in the life of local communities
(3) Investors：Compliance with good management and governance practices
(4) Suppliers: Inclusion of Corporate Social Responsibility criteria in the purchasing process
(5) Consumers: Responsible Product Management
(6) Planet: Reduce Solvay’s environmental impact

CONTRIBUTION TO COMPANY PERFORMANCE

Reduction in Human Resource cost
Increase in sales by enhancing product safety
Reduction in manufacturing and processing cost

Benefits

Influence the chemical industry and other companies in different industries to pay more attention and take more proactive measure for world sustainability
Build strong relationships with related social stakeholders
Reduce impact on manufacturing process on air , water, soil quality
Preserve natural resource by improving raw material efficiency