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We care about your privacy. The report is available in English and Dutch on www.umicore.com. )((EPESQE QE%Q@QL(( (`QE $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ? The company has been a component of Belgium's benchmark BEL20 stock market index since its 1991 inception. ]c\RbKSTQ C''Q6.6QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ " (Q@Q@ EPEP0`QE Enter the email address you signed up with and we'll email you a reset link. Surprisingly, they found little agreement on the top issues concerning strategic direction between both. @ XDep-~ao~DFJvY`U#3%\3|@&ZoNnN"xZZ5e{E_1xIW1($UrvYVmZ-3Fb2&F!bM?$?H?&^/n[d6O z9X:$KJgr=>Y`8b_unm&JRa))NX0Ga/ C9pepj|T]s;$VF5,y kL2;]1Zm(CAfTx2LnFB L /OPM 1 ( Umicore - the materials technology and recycling group has published its 2016 Annual report. The Umicore case shows how this company was decades ahead of its industry and managed to address both the operational and strategic issues of metals and mining by transforming towards a strong new player in the circular economy. The Group generated revenues (excluding metal) of 4.0billion (turnover of 24.1billion) and employed 11,050people in 2021. In December, we have announced with Volkswagen AG our intention to create a joint venture for the production of precursor and cathode materials in Europe to supply Volkswagen AGs European battery cell production. The ESG Risk Ratings measure a company's exposure to industry-specific material ESG risks and how well a company is managing those risks. /FontDescriptor 15 0 R ( Each business group is divided into market-focused business units offering materials and solutions that are at the cutting edge of new technological developments and essential to everyday life. /ColorSpace /DeviceRGB /Subtype /Type1 << [19][20] In 2011, the company was awarded with the Fray International Sustainability Award for developing breakthrough technologies for recycling lithium-ion batteries, and establishing significant environmental protection initiatives.[21]. Unleash the $4.5 trillion circular economy opportunity in your business, Catching the Right Opportunities and Making Them Work, RobecoSAM and GRI on Defining Materiality 2016.pdf, Jumpstarting Your Circular Economy Program. ,!6@# 1 /StemV 63 In early January 1967, the UMHK was nationalized by the regime of President Mobutu Sese Seko,[10] and over $800 million of the company's assets were seized by the state. Shareholders became more optimistic about the companys business prospects, and in 2013 Umicore was named the worlds most sustainable company by Corporate Knights, receiving praise for its focus on clean technologies, including emission-control catalysts, materials for rechargeable batteries and photo-voltaics, and advanced recycling. 648 537 833 704 741 630 741 667 630 556 685 593 907 574 611 574 500 500 500 Sorry, preview is currently unavailable. [27] Most of the materials (around two-thirds in terms of refining charges)[28] put through the refining process are by-products from the production of non-ferrous metals, such as dross, matte, and speiss from the zinc smelting industry and anode sludge built up during electrolysis. >> << << The need for cleaner air has never been greater, the adoption of electrified transportation has started to accelerate and resource scarcity continues to be a pressing concern, particularly for those metals that are essential for cleaner mobility and new communications technologies.Marc Grynberg, Umicore CEO, Umicore Publishes Integrated Report 2016: Elements for Success. /Type /Page /g /h /i /j /k /l /m /n /o /p /q /r /s /t /u /v /w /x /y /z 126 /asciitilde /SA false /Widths [ 278 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 hello@finchandbeak.com +(AES (b

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/Filter /DCTDecode We provide comprehensive, unconflicted research-only (no execution, no corporate finance) coverage of c. 462 European mid and large cap stocks.

Unless otherwise explicitly agreed in writing, usage for products and services, index creation, derivative work, portfolio or fund management, or any other usage are not permitted. /Type /Encoding These insights can be used to identify areas of ESG improvement to help inform future management decisions that align with your organization's sustainability goals. << << [24] The unit is headquartered at the company's plant in Olen near Antwerp, with production and commercial facilities in a number of countries worldwide. ( Usage is permitted to the related "rated" company mentioning AlphaValue as a source. >> ( Umicore is a global materials technology and recycling group. Jewellery and Industrial Metals produces semi-finished precious metals-based products, for jewellery and industrial applications and is a major recycler of scrap and residues from the jewellery industry. Notice: The information provided is for informational, non-commercial purposes only, does not constitute investment advice and is subject to conditions available in our Legal Disclaimer. [7], The main thread running through much of Umicore's history is the Union Minire du Haut-Katanga (UMHK), a company incorporated in 1906[8] to exploit the vast natural resources of the Congo Free State, later the Belgian Congo and now the Democratic Republic of the Congo. It offers a comprehensive and integrated view of our economic, financial, environmental, value chain and social performance for 2021. /Type /XObject /op false /BitsPerComponent 8 endobj endobj Alphavalue's approach relies on 4 independent pillars which are all based on proprietary data and methodology. /Filter /FlateDecode /Length 3774

)-$cIse)l3&pH.oTj;5Q)~#.e_g]UJ Hx\NVnc6 9V'3G 9JNB]'~=PGzNA'8{lkd G#oID=x'8yGc}i5&,8)I41}@":YMe2? } !1AQa"q2#BR$3br /XHeight 592 ( Visit our dedicated reporting center:http://annualreport.umicore.com/home/The past year has shown clear evidence that the three megatrends that drive the growth of our business are becoming more pronounced. [30], Battery Recycling is a second business unit, focused on the recycling of spent rechargeable batteries from laptops, mobile phones, and hybrid electric vehicles.[31]. %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz v#}mD7)0hl NH]g=]8y *h8fL4>wkPO ^ ( /Type /XObject Umicore increased its presence in the sector with the June 2007 purchase of the catalyst division of troubled American auto parts manufacturer Delphi for $55.6 million. $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ?

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Since then, we have implemented a new ESG governance organization that will allow us to steer the progress in achieving our ESG targets, we have committed to SBTi to ensure that our low-carbon transformation journey is aligned with climate science, we have concluded various green PPAs, we have begun reporting using the recommendation of the Task Force on Climate-related Financial Disclosures and we have signed an inaugural 500 million sustainability linked loan. 12 0 R >> >> /LastChar 244 [40], The company serves as title sponsor of the Agoria Solar Team[nl], the Leuven-based entrant in the 2005, 2007 and 2009 editions of the World Solar Challenge, a solar-powered car race through the Australian Outback. (PEPEPEPEP0(( (QE QE RQ@Q@Q@SQE(`QE QE (EPEPEP0(( ( In automotive catalysts, a field in which the company had begun research in 1968,[33] the company ranks third in global market share[34] behind BASF Catalysts (formerly Engelhard) and Johnson Matthey. The ESG Risk Ratings can help investors to identify, understand and manage ESG risks at the security and portfolio level with the aim of improving the long-term performance of their equity and fixed income securities. 889 611 278 241 241 500 600 278 370 278 333 556 556 556 556 556 556 556 556 >> We launched our Lets Go For Zero ESG strategy (Zero GHG emissions, Zero Harm, Zero Inequality) which was an important milestone in our long sustainability journey. This partnership will further diversify our customer base and will support VW in their ambitious electrification strategy. Don't miss out: subscribe and receive monthly news on ESG and sustainable business. ( ( All rights reserved. endobj Please read how your data is collected and processed in ourprivacy notice. } !1AQa"q2#BR$3br /Resources << /ExtGState << /GS1 4 0 R /GS4 5 0 R >> /Font << /F4 6 0 R /F3 /Type /ExtGState ( Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. Privacy Notice| Finch & Beak 2022. The strategic assessment kickstarted a major renovation process. [15] The three-year plan, implemented under the guidance of recently appointed CEO Karel Vinck,[16] involved the loss of around 25% of Union Minire's workforce[17] and the sale of a number of non-core assets, including a zinc wire operation,[17] French roofing material retailer Asturienne[17] and much of the company's exposure to the diamond products sector (including Diamant Boart[nl]). ( 17 0 obj Material ESG issues are issues that are considered to be financially material to a given company in a relevant sub-industry. (Q@Q@QLJ( (QE(`QE RQ@Q@QL(0( ( )QIE QE0 [6], To symbolise this trend of moving away from mining and the production of commodities and base metals, the group Union Minire changed its name to Umicore in 2001. 9B0 3xbCh Our approach is based on analytical items contributing to the E, the S and the G, that can be highlighted as sustainability precursors and can be combined in an intellectually acceptable way. Emission or consumption per of capital employed on . Umicores overriding goal of sustainable value creation is based on an ambition to develop, produce and recycle materials in a way that fulfils its mission: materials for a better life. Will Restaurant Week Be the Ticket? /Height 86 Where investors are keen to learn how companies plan to keep up with these long-term changes and trends, such as commodity prices, climate change and resource scarcity, companies tend to emphasize their performance on more operational topics such as environmental management and health & safety. +31 6 28 02 18 80. Copyright 2022 Sustainalytics. Umicore N.V.. formerly Union Minire, is a multinational materials technology company headquartered in Brussels, Belgium. The hard work started to pay off demonstrated by a strong financial and non-financial performance. endobj >> It generates the majority of revenue from cleaning technologies, including emission control devices, components for rechargeable batteries, and recycling solutions. This article is largely based upon an IMD case study on Umicore (2016, IMD-7-1708) by Jan van der Kaaij, managing partner Finch & Beak, under the supervision of Dr. Benoit Leleux, Stephan Schmidheiny Professor of Entrepreneurship and Finance at IMD, Lausanne.

Usage as a benchmark is not permitted. (Q@(EPQE( (QE0 /Rotate 360 /Differences [ 2 /uni00A0 32 /space 35 /numbersign /dollar /percent /Subtype /Image This also included the companys commitment to the UN Declaration of Human Rights and the International Labour Organizations core labor standards. /Width 245 ?Y;j}.HQ|58:UI>280\8PUZ,/ . >> Going through a global economic slump and a change of parent company during the 1990s, the merged organization was eager to make some big changes. ((AES( (`RQ@Q@(QE(Q@Q@J)QE QE1Q@PES (QE RQL(AES (QE0 {n8@`]IU gKzcDdb|6_=mRiix.?aR|J2Sa)&CH&)T'Y0+ybWBwmlJaH;DVqUl?#W$$C2;]gU?_IGQlt@#vv*Z/Q~~MR6a*qk]%n [24] The division also produces and markets products of germanium, both in compounds for doping optical fibres, semiconductor wafers and infrared optics. Mining, originally the lifeblood of the company, no longer plays a direct part in the business: a minority stake in zinc producer Padaeng Industry, which operates a mine in the north of Thailand, was Umicore's last remaining presence in the sector[22] and was sold in April 2008. 500 500 500 500 500 500 500 500 500 500 500 500 500 500 278 500 500 556 556 Management refers to how well a company is managing its relevant ESG issues. (QL((! /BitsPerComponent 8 ]c\RbKSTQ C''Q6.6QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ V "

/quotedblright /quoteleft /quoteright 147 /fi /fl 167 /section 169 /OPM 1 Umicores industrial and commercial operations as well as R&D activities are located across the world to best serve its global customer base. Umicore SA offers solutions to treat pollutants, metals, and other industrial materials. 5 0 obj Our exposure score takes into consideration subindustry and company-specific factors such as its business model. | Source: As a formal commitment to employees and other stakeholders, Umicore signed a Global Framework Agreement in collaboration with workers union and federations, covering an array of issues such as human rights, working conditions and environment. (J( ( )( We have an average of 46% of negative recommendations at any one time. It is ranked as one of The Global 100's "Most Sustainable Companies in the World"; in 2013 it was the top-ranked company and in 2014 it was in ninth place. ( Leverage Sustainalytics' ESG Risk Ratings to understand and promote your corporate ESG performance with internal and external stakeholders. endobj /MediaBox [ 0 0 612.283 790.866 ] << Understand how exposed companies are to specific material ESG issues and how well companies are managing these issues. At the same time, we are developing the strategic directions for Umicore towards 2030 and will be sharing these with our stakeholders at our upcoming Capital Markets Day on 22 June. (QL((aE% QE(`RQ@PE%( (`QE QE RQLaEPIE0 /Type /ExtGState endobj The report provides an integrated view of Umicores progress towards its Horizon 2020 goals of becoming a leader in clean mobility materials and recycling, doubling its earnings, bringing greater balance and focus to its portfolio and turning its sustainability credentials into a greater competitive edge. The company divides its operations into four divisions: Energy Materials, Recycling, Catalysis, and Performance Materials. Vtl:Z8Td.>q.pUFnzriheR|#Eu-jyGmgy7GqiI%dS_[cy3Cf&oVFJOV>!>w2g r=Erec47aHxAx0piJfMGIr0ahaQE QE QE QE QE QE QE QE QE QE QE QE gkSCe|\oixW`2kwwatjL|AX+o{#2iPPsB%Wao>lSX6j#.a8Kjt X$Z,TSfuDl+!_ 1yz~Rz}qT5I-t-+"70}*tm2#atyeowN[LN? /ColorSpace /DeviceRGB 128 /bullet /dagger 131 /ellipsis 133 /endash 141 /quotedblleft [9] As a reflection of its enforced departure from the Katanga Province, the new, simplified name Union Minire was adopted. ( xXy\WaQaNE (9"r)"c@99$A 1K\4cttQ`(w|6o^7UQNL&>!a/JYqcc ;\T;HL!3n-qp&o&(%e12PR??p^yQ9!CHhcg >> Umicore's Management of ESG Material Risk is Strong. ( For more information, visit the Umicore website or contact Nikkie Vinke directly in case you are lookingfor sustainable innovation within your organisation via nikkie@finchandbeak.com or call +31 6 28 02 18 80. /period /slash /zero /one /two /three /four /five /six /seven /eight /nine /TrimBox [ 0 0 612.283 790.866 ] << << /Subtype /Type1C [11], The firm suddenly found itself without the vast majority of its business (despite later receiving financial compensation for the physical assets seized by Mobutu's regime)[12] but managed to survive: full ownership passed to conglomerate Socit Gnrale de Belgique, where it was grouped with its other metals and mining interests.

(PEPEP0 ( ( ( ( J( ( ( ( )(EPES (QE( stream /FontBBox [ -166 -214 1050 967 ] By way of exception, usage is permitted only to the rated company, limited to a single reference of its own information in annual reporting and sustainability website, mentioning Sustainalytics as a source. (PEP )QE QE1PEPE%QE QE0(AEPE%(QE QE0 We have already made significant progress in preparing Umicore for its next chapter of growth and are further strengthening our competitive leadership positions in the different value chains. << Addressing its historical legacy and showing pro-active environmental management leadership, Umicore embarked on a massive site-remediation, a sizeable 174 million investment spread across major sites in Flanders, Wallonia, Bulgaria, the Netherlands and France. Exposure refers to the extent to which a company is exposed to different material ESG issues. (Q@PEPEPEPE%( ( ( ( J( /Type /Font Discover our metrics on 439 european stocks. Initially the UMHK concentrated on mining the state's extensive copper deposits, before diversifying into cobalt, tin, uranium (in which it at one point held a near-monopoly in global supply) and other precious metals. Under the new name Umicore, the company critically re-evaluated its portfolio of businesses. All Rights Reserved. In 1989 however, Socit Gnrale announced plans to merge Union Minire with three other Belgian metals companies in which it held a significant stake: zinc producer Vieille Montagne (with a history stretching back to 1805); Metallurgie Hoboken-Overpelt[nl], which dealt in a wide range of metals including copper, cobalt, and lead; and Mechim, an engineering firm. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. 15 0 obj /OP false /CropBox [ 0 0 612.283 790.866 ] %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz /Type /FontDescriptor

Unless otherwise explicitly agreed in writing, usage for products and services, index creation, derivative work, portfolio or fund management, or any other usage are not permitted. >> Umicore is aiming for full disclosure on impact and value to society, with increased reporting, as well as expanded reporting framework use. /OP true /op true

3 e1Ja}&Ia8a xi6x#[zV6~xM} _5y#gi;Zlk`Xk5$3:'h0[!,>> >> Our management score assesses the robustness of a company's ESG programs, practices and policies. ( | nikkie@finchandbeak.com, Finch & Beak 500 500 500 500 500 500 500 500 500 370 370 278 278 500 500 444 444 500 500 /Filter /DCTDecode With a heritage dating back to 1805, Umicore underwent a remarkable transformation over the last two decades. The amazing business transformation of materials company Umicore. %PDF-1.7 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 519 500 519 5 0 obj 2 0 obj March 25, 2022 09:00 ET

This ensured the encapsulation of sustainability into the core of the Umicores activities. Umicore posted all-time record results and cash flows in 2021, despite severe disruptions in global car production in the second half of the year. 7 0 R /F6 8 0 R >> /Shading << /Sh6 9 0 R /Sh7 10 0 R /Sh8 11 0 R /Sh9 [26] Production is headquartered at Umicore's precious metals facility in Hoboken near Antwerp, with other plants in Germany and the United States.