The relationships we build with customers, suppliers, investors, employees and the communities that live and work close to our plants is important to us. By engaging with our various stakeholder groups, we can respond quickly to the constant changes in market demands, product requirements and regulation.

Our Stakeholders

At Innospec we have a diverse range of stakeholders that we need to engage with in many different ways. This open and on-going engagement with key stakeholders is an essential element in our continued success. It enables us to understand and take into account their varied perspectives, ensuring that our strategy and focus areas continue to be relevant, reflecting the needs of both our internal and external stakeholders.

Stakeholder Group Method of Engagement

Identifying customers’ current and future needs helps us to understand where we can add value.

  • Materiality assessments.
  • Corporate website.
  • Face-to-face and remote meetings.
  • Webinars.
  • Regular online communication to help plan product demand.
  • Collaborating on sustainability programs including Roundtable on Sustainable Palm Oil. (RSPO), Action for Sustainable Derivatives (ASD) initiative, CDP and EcoVadis.
  • Technical support services.
  • Completion of questionnaires.

Providing clear, transparent information to our investors demonstrates that we are managing a profitable and responsible business.

  • Materiality exercises.
  • Regular investor conferences.
  • Face-to-face and remote meetings with existing and potential new investors.
  • Proxy Statement.
  • Regular reporting.
  • Dedicated investor section on our corporate website.

Engaging regularly with our employees provides an opportunity for us to listen and provide feedback on their individual needs and take onboard their views when determining the direction of the business.

  • Materiality assessments.
  • Ethics and compliance hotline
  • CEO/CFO all-employee conference calls.
  • Direct communications via email and virtual team meetings.
  • CEO/Exec Team global site visits.
  • Annual performance appraisals.
  • Safety, Health and Environment (SHE) Best Practice Group.
  • Resource Reduction Group.
  • Sustainable Development Network.
  • Intranet.
  • Online and in person training courses.
  • Local Communicator Network.

Governance & Regulatory
Proactively engaging and consulting with our regulators enables us to understand and prepare well in advance of any changes that have the potential to impact our business and operations.

  • Materiality assessments.
  • Online participation in webinars, policy forums and advisory groups.
  • Trade associations including Chemicals Industry Association (CIA), American Chemistry Council (ACC) and European Chemical Industry Council (CEFIC).

Supply Chain Partners
Working closely with our supply chain partners enables us to manage supply chain risk effectively and to identify opportunities to improve the sustainability and economic efficiency of our products and services.

  • Materiality assessments.
  • Supplier evaluation processes.
  • Meetings on procurement and contract management.
  • Supplier site audits.
  • EcoVadis assessment.

Community Members
Engaging with our local communities where we operate is essential to maintaining our reputation as a safe and responsible neighbor. It has a positive effect on community and employee relations.

  • Local employment opportunities.
  • Participation in local forums.
  • Safety action notices.
  • Innospec Cares Program
  • Business donations and sponsorship activities.
  • Work placements.
  • Graduate and intern programs.

Non-Government Organizations (NGOs), Sustainability Organizations and Advisors
Collaborating with a range of NGOs helps us to understand both the immediate and wider sustainability issues affecting our products and the markets in which we operate.

  • Membership of business and industry associations including RSPO, ASD and Trade Association Sustainability Networks.
  • Voluntary participation in CDP Climate and Water Security assessments.
  • Chairing of industry focus groups.
Materiality Overview

Listening carefully to the concerns of our stakeholders helps us respond quickly to changes in market demand, product requirements, regulations and other issues that might affect them. That is why we spend time building relationships with our customers, suppliers, investors, employees and the communities that are close to our sites. We want to identify what matters most to them. This input underpins our strategy and reporting processes.

We completed our first materiality assessment in 2017 which helped develop the structure and content of our sustainability strategy. In 2021, we conducted our second full materiality assessment which identified 10 material issues common to our internal and external stakeholders. The majority of these issues remained consistent with our current sustainability strategy and focused actions. Corporate information security emerged as a new issue of high materiality. The exercise confirmed the continued relevance of our strategic approach and focus areas to our stakeholders. The findings of this assessment were fed into the periodic review of our strategy.

Click here to view our materiality table