Sustainability at Innospec
Adding Sustainable Value
Sustainability is central to how we grow as a responsible global speciality chemicals company, minimising our impact on the planet as we do so.
Adding sustainable value is the focus of our sustainable development strategy, which encompasses the social, environmental, governance and economic pillars of sustainability. Under each pillar are the values we commit to as a business. We add this value by managing a competitive and economically sustainable company, delivering innovative solutions to meet customer needs and helping them to achieve their goals.
Our Sustainability Strategy
Our open and on-going engagement with key stakeholders is an essential element in Innospec’s continued success, enabling us to understand and take into account their varied perspectives during the development of our strategy.
|Our Stakeholders||Method of Engagement|
|Customers||Identifying customers’ current and future needs helps us understand where we can add value, building on our reputation as a pioneering speciality chemicals company offering innovative products.|
|Investors||Providing clear, transparent information demonstrates that we are managing a profitable and responsible business, which satisfies existing and potential investors.|
|Employees||Regular engagement with our employees provides an opportunity for us to consider their views and address their needs when determining the direction of the business.|
|Governance & regulatory||Engaging and consulting with regulators enables us to understand and prepare for regulatory changes that have the potential to impact our business and operations.|
|Supply chain partners||Working with our supply chain partners helps us manage supply chain risk and improve the sustainability and efficiency of our products and services.|
|Community members||Engaging with our local communities is essential to maintaining our reputation as a safe and responsible neighbour and strengthens employee motivation.|
|Non-government organisations, sustainability organisations & advisors||Liaison with NGO’s and sustainability organisations enables us to better understand the immediate and wider sustainability issues that affect our products and the markets in which we operate in.|
Transparent and effective engagement with stakeholders is essential to the success of our business. We have identified our focus areas through the undertaking of a materiality assessment to understand which issues add the most value to Innospec as a business, and those which add the most value to our stakeholders. Those that scored highly were deemed potential material issued and underpinned the creation of our strategic values and focus areas. Each year we review this assessment to ensure that our focus areas continue to reflect the sustainability issues that are material to our business and wider stakeholders. Where required we will adapt our focus areas to ensure that we are in a strong position to respond to industry and the wider sustainability trends.