We’ve set out all the sustainability targets we want to achieve, and the milestones to get us there.
Overall, Vision 2030 is our roadmap to help guide our decisions over the next decade and set us on the path to net zero. It’s about making sustainability central to everything we do. Designing it into products from the start. Embedding it into our procurement. Shaping our people strategy around it.
So here are details of our Vision 2030 targets, and the progress we’re making towards them.
"Setting ESG targets for the group, our Vision 2030, is a key process in aligning everyone's efforts towards our sustainability journey."Susana Carvalho Group Sustainability Director
Target: at least 60% of new products with enhanced sustainability benefits
We’ve always designed sustainability into our products to some extent. But now we’re applying our innovation to ramp it up. In 2021, we launched 19 new products, 43% of which included a defined sustainability benefit. In the same year, we were first awarded the London Stock Exchange Green Economy Mark, for companies who earn at least 50% of their revenue from products and services that contribute to environmental objectives. Across our businesses, 57% of all new products in our pipeline will deliver a net positive sustainability benefit.
Target: 80% procurement spend with a sustainability rating
Since we set this goal, we’ve strengthened our focus on sustainable procurement with a dedicated new policy, as well as a conflict minerals policy. We’ve also invested in a sustainability rating platform to help us track and report how much of our procurement spend is covered by a sustainability rating. In addition, we’re ensuring that all our highest risk suppliers adhere to our Supplier Code of Conduct or equivalent standards.
"The steps we are taking will make sustainability part of everything we do in the procurement function. This is transforming the way we do business and will help to lower the carbon impact of our supply chain on the planet."Steve Blackburn VP, Group Procurement
Health and safety
Goal: top-quartile safety performance
Target: recordable injury case rate 0.20 per 100,000 hours for employees and contractors
Target: process safety event rate (PSER) 0.10 per 100,000 hours for employees and contractors
Target: 47% absolute reduction in Scope 1 and 2 GHG emissions (vs 2019)*
Target: 28% absolute reduction in Scope 3 GHG emissions (vs 2019)*
Target: 80% of our electricity from renewable sources
We’re making great progress on reducing our emissions. Our total CO2 equivalent emissions decreased by 34% compared with 2019. We’ve installed new gas boilers, which meant we closed our only coal-fired power station. In 2022, our objectives are to reduce Scope 1 and 2 intensity by 20% (we’re already ahead of this target, achieving 34% reduction in 2021), improve specific energy efficiency by 5%, and evaluate Scope 3 emissions from three suppliers of our four main raw materials.
"In my role, I am constantly looking for new opportunities to decarbonise our raw material supply chain."VP, Technology Platforms and Innovation Robin Harrison
Target: manage and minimise water consumption, and introduce water management plans in water-stressed areas and at the sites where we use the most water
We need a significant amount of water to make our polymer products, and in manufacturing for steam and cooling. Recently, we’ve had to use slightly more water – in part because of higher air temperatures and lower rainfall – but we’ve agreed an overarching new water policy and we’re working on ways to better monitor and reduce our water use.
"In my role as Sustainability Manager for Group Operations, I am focused on coordinating our activities to develop systems, best practices and deliver projects that help meet our emissions reduction and water management goals."Guy Scudder Sustainability Manager, Group Operations
Target: 12% reduction of waste to landfill per produced tonne
Total waste is down by around 15% on an absolute and per tonne intensity compared to 2019. And we’re trying to support a circular economy by recycling and recovering waste, and increasing the re-use of by-products that previously we would have disposed – our site in Le Havre has already cut waste by 350 tonnes doing this.
"This year has been about setting ourselves new environmental targets and laying important foundations. Now we must get to work to achieve those targets."Guy Scudder Sustainability Manager, Group Operations
Target: 40% senior management gender diversity by 2030*
Target: 70% employee participation in our employee engagement surveys at a global and country level
We have some way to go on this target, but in 2022 our objective is to have 25% female senior leaders, and 33% by 2025. In the past year, we have been raising awareness to help employees understand why gender parity matters and the role they have to play, as well as engaging our top 100 leaders to discuss their role in supporting our vision. To be a better business, we also want to hear all employees’ thoughts – they’ve told us about strengths, such as our commitment to safety, and areas for improvement, such as communication and knowledge sharing.
Target: provide volunteer support and financial contributions in excess of £1 million a year to advance education, public health, diversity and environmental stewardship.
For 60 years, the Synthomer Foundation in the USA has provided funding to education initiatives, and arts, civic, health and human service organisations. In 2021, 56% of the funds went to education programmes and one of the largest single donations will help two students attend a Historically Black College or University and participate in a leadership development programme.
"The Synthomer Foundation supports programmes that enhance the quality of life in our communities and provides opportunities to foster civic engagement through employee volunteerism."Theresa Carter President of Synthomer Foundation
*Targets updated October 2022