Financial Statements - Solvay

54
1. On a like-for-like basis, with
2006 as base year.
2. Number of accidents with more
than 24 hours of lost time, by
million hours worked.
Solvay Global Annual Report 2008
Quantifi ed Objectives
After formalizing its Sustainable
Development approach in 2007, the
Group took two major steps in 2008:
The June 2008 strategic review,
which was entirely devoted to this
theme; and
Publication of the report
“Towards Sustainable Development,
2008-2012”.
The June 2008 strategic review,
the key decisions from which are set
out in the “Strategy” chapter, has also
translated into concrete action plans,
complete with progress indicators
and short, medium and long-term
objectives.
The 2020 objectives are structured
around two action lines.
The fi rst is the Group’s
commitment to reduce
signifi cantly its energy
consumption and emissions.
By 2020, the Group undertakes to
reduce 1 :
Its total energy consumption by at
least 20%:
> in its primary production and
processes;
> in its sites and buildings (based
on energy audits);
Its logistics impact (transport, in
road tonne/km in Europe) by at
least 20%;
Its global emissions of greenhouse
gases (in CO 2 equivalent) by at least
20%:
> including cuts in company vehicle
fl eet emissions of at least 30%;
Its global air emissions index by at
least 20%;
Its global water emissions index by
at least 20%.
The Group has also set itself the
ambitious objective of achieving a
zero frequency level for lost-time
accidents 2 .
In the shorter term (2012), the Group
has committed to:
Create an energy subsidiary
to centralize management and
negotiation of energy and CO 2 ;
Assess the feasibility of building a
chemical biomass complex;
Strengthen its strategy to secure its
raw materials needs;
Launch a comprehensive energysavings
and greenhouse gasreduction
program;
Use a CO 2 reference price (see box)
for sensitivity analyses and decisionmaking,
in all investment projects;
Develop a systematic assessment
of all sites based on a Best
Available Technologies (BAT) model;
Use Process/Markets sustainability
analysis to position its products and
direct its R&D programs in all its
activities;
Constantly review its product
portfolio so as to balance
opportunities and risks;
Adapt the governance and improve
the organization of its Research
activities; and
Promote the attitudes, skills
and know-how needed for
open innovation and a learning
organization.
The second action line consists
of growing our product portfolio
towards better a better balance
of Process/Market sustainability.
To this end, we are currently
developing a consistent Group-wide
analysis grid.
The summary and prospects
document “Towards Sustainable
Development, 2008-2012” takes up
and elaborates all these objectives.
It defi nes 107 objectives at Group
level, including 25 main objectives
highlighted for their particular
importance for the 2012 and 2020
horizons. These are updated annually.
This document is structured on a
5X5 matrix, which constitutes the
reference framework for the Group’s
sustainable development thrust.
It refl ects the main sustainability
expectations expressed by our
stakeholders vis-à-vis enterprises
like ours.
One axis consists of fi ve strategic
elements (Vision and Values,
Management Methods, Products &
Activities Today, Future Development,
Critical Risks), the other being
Solvay’s fi ve stakeholder groups:
Investors;
Society;
Customers and suppliers;
Personnel and subcontractors;
Local communities.
2008 saw the Group move forward
on a broad front of initiatives that,
to various degrees, meet the
expectations of our stakeholders.
Some of the most signifi cant of
these are briefl y mentioned here by
stakeholder group.
Defi nition of a reference value for CO 2 prices is already an integral part of
our fi ve-year planning process. The values used for the fi nal year of the
plan correspond to “trend” values to be used for the subsequent years of
the plan and for calculating project profi tability.
The defi nition of ranges of possible variations, for CO 2 , for energy and
for other parameters to be used in sensitivity calculations of the return on
projects, is nearing completion. This new tool will supplement the
methodology for calculating the return on projects.