Solvay SA – Annual report – 31 December 2021
About this report
Solvay’s 2021 Annual Integrated Report provides material information on Solvay for the year ending December 31, 2021. This report reflects our progress in our integrated management journey, as it is the first edition that integrates all content in one comprehensive document. It includes our management report, as required by article 12 of the Royal Decree of 14 November 2007 relating to the obligations of issuers of financial instruments admitted for trading on a regulated market. The information required by articles 3:6 and 3:32 of the Belgian Code of Companies and Associations can be found in the different chapters of the report. This includes our Renumeration report, Risk management report, Business performance review, Extra-financial statements and Financial statements. Solvay’s 2021 Annual Integrated Report is based on the Value Reporting Foundation Integrated Reporting principles and elements of content, and aligned with the GRI Standards and the WBCSD’s ESG Disclosure Handbook.
Extra-financial statements (extract 1)
Extra-financial statements (extract 2)
- BASIS OF PREPARATION
The main reporting frameworks used to prepare the Annual Integrated Report are:
- Global Reporting Initiative (GRI): the GRI standards are the main reference for Solvay’s sustainability reporting; the latest edition of the standards is used, including the new GRI-1 and GRI-2 universal standards.
- United Nations Global Compact: the information provided serves as a progress report on implementation of the United Nations Global Compact’s ten principles.
- International Integrated Reporting Council (IIRC): Solvay adheres to the principles and content elements of Integrated Reporting, as described in the “International Framework” published by the IIRC.
- 2014/95/EU: Solvay uses the GRI Standards to comply with Directive 2014/95/EU of the European Parliament and of the Council of October 22, 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information. The Directive was transposed into Belgian law in September 2017.
- Sustainability Accounting Standards Board (SASB): Solvay aligns our materiality analysis with the SASB approach to prepare the SASB Materiality Map™. For more details, see the Materiality Analysis section of this chapter.
- World Business Council for Sustainable Development (WBCSD): Solvay’s report aligns with the WBCSD ESG Disclosure Handbook guidance in terms of process and content selection.
- World Economic Forum: Measuring Stakeholder Capitalism – Towards Common Metrics and Consistent Reporting of Sustainable Value Creation – September 2020: Solvay reports on the WEF report Core Metrics and Disclosures.
- United Nations Sustainable Development Goals: Solvay has identified the nine Sustainable Development Goals on which it can have the most impact, through its operations or across the value chain, in line with the materiality analysis.
- Task force on Climate-related Financial Disclosures (TCFD): Solvay reports on our alignment with the 11 recommendations of the TCFD.
- RESPONSIBLE CARE®: Solvay is a signatory to the International Council of Chemical Associations’ (ICCA) Responsible Care Global Charter®.
- EU Taxonomy: a first estimate of eligible activities as defined by the EU Taxonomy in the delegated act of April 2021 is presented in 5.1. Product design and life cycle management.