Financial Statements - Solvay

Participation in venture capital funds allows Solvay to remain engaged at the forefront of emerging businesses such as
alternative renewable energies and organic electronics.
Solvay launched a dynamic innovation program at corporate level nine years ago, covering its main fi elds of activity,
including R&D.
7. Risk to People
Risk to People is the exposure of employees, contractors and the public to adverse effects from Solvay’s activities and
products, for example from plant processes or from transportation of hazardous chemicals. A major accident can injure
people or lead to the temporary closing of a plant and ultimately expose Solvay to signifi cant liabilities.
Prevention and Mitigation efforts
Solvay considers the safety and health of people key aspects in the management of its activities. The Group has
consistently developed and implemented stringent safety programs. Related policies and risk control programs apply to
all production units and other facilities, including to contractors and newly acquired plants.
The risk of hazardous chemicals transportation is reduced by mapping and minimizing transport routes and
by the operation of integrated production units, which do not require the transportation of intermediate goods.
Solvay follows the recommendations of associations like Eurochlor, ECVM or CTEF, and programs like Responsible Care ® .
8. Environmental Risk
Environmental Risk is Solvay’s exposure stemming from the accidental release of a chemical substance following a plant
equipment failure, a transport accident or production problems resulting in exceeding permitted emission levels.
Solvay operates manufacturing plants in many regions. Like most industrial equipment, this may create environmental
risks through the accidental release of chemicals into the environment. Around 30 sites are covered by regulations dealing
with major risks. Like most other industrial companies, Solvay has to manage and remediate historical soil contamination
at some of its sites.
Prevention and Mitigation efforts
Solvay considers environmental protection as a key aspect in the management of its activities. Well-defi ned pollution
and accident prevention measures have been in place at Solvay for a long time. Policies and risk control programs
are applied in all production units and other facilities, including newly acquired plants. The Group has, in particular,
taken the necessary steps to comply with regulations concerning major risks, which include detailed accidentprevention
measures. The Group has developed internal expertise in soil management. Hydrogeological studies and soil
characterizations are conducted systematically to diagnose potential problems, evaluate risks to aquifers and discuss
with the relevant authorities remediation or confi nement actions. A number of such actions have been completed or are
under way.
9. Information and IT Risk
IT is integrated in the business to process and exchange information and to optimize business processes such as,
for example, industrial production unit controls and management, inventory management, supply chain management
and productivity enhancement. IT choices and strategy therefore strongly impact the business. The losses from outages,
service-level degradation or IT systems failure can raise business continuity issues and can result in the loss of revenue.
Business information is a real asset within the corporation that must be valued and protected by structured processes
like access management or controlled duplication. The two challenges regarding information assets are to reduce
the risks of accidental unavailability or loss and the risks of deliberate misuse, abuse and theft.
Financial
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Solvay Global Annual Report 2008
Financial