Forward Look

Our objectives and targets for 2022 and beyond

Environment

• Work towards achieving our medium-term objective for all manufacturing sites to deliver a 10% reduction in Group Scope 1 GHG emissions by the end of 2030.
• Evaluate options, consistent with the Paris Climate Agreement, to enable us to deliver a net zero emissions target by 2050.
• Deliver the procurement of renewable electricity for our 2022 usage while exploring opportunities to use physical sources of renewable energy at our manufacturing facilities.
• Implement new initiatives to reduce water use, improve water quality and maximize the recycling of waste and minimize the amount sent to direct landfill.

Social

• Ensure our health and safety record exceeds the industry average performance. Target zero fatalities or major, work related injury accidents to employees or third parties. This requires the implementation of our Journey To Zero Harm strategic plan and assessment of its impact.
• Maintain to the focus on implementing our process safety standards with a specific target of reducing loss of containment events by 5% when compared to 2020.
• Introduce new measures to support the mental health and wellbeing of our employees alongside our continued commitment to supporting local communities through our Innospec Cares program.

Governance

• Conduct an annual transparency and risk mapping exercise for our 2021 palm volumes, targeting 100% transparency to the mill level by 2025.
• Increase the number of non-raw materials suppliers invited to complete an EcoVadis supplier evaluation assessment and engage with low scoring suppliers to increase their score.
• Review and benchmark the Innospec Code of Conduct and Annual Modern Slavery Statement to ensure they continue to meet best practice.