Materiality assessment
Why this assessment?
A materiality assessment is both an opportunity for constructive dialogue with the stakeholders (Arkema collects their expectations) and a tool for guiding the CSR strategy (priorities and follow-up indicators are defined based on this consultation).
Building on this materiality assessment, Arkema intends to:
- Enhance dialogue with its stakeholders and involve them in the Group’s global CSR initiative.
- Validate the relevance of CSR actions already underway.
Results
As a result of this renewed materiality assessment, Arkema has identified 17 key material issues.
These have a high score in terms of stakeholder relevance, inside-out/societal impacts and outside-in/business impacts.
These were classified into three categories for focus and effective management:
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Transformative priorities |
Material topics which are at the heart of Arkema’s activities and enable the company to build long-term value and maintain a competitive edge in line with societal megatrends. |
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Continuous improvement areas for CSR excellence |
Material topics on which efforts should be maintained for continuous improvement and CSR excellence. |
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Sustainability enablers |
Material topics that put the company in the right position to address the core focus areas. |
Consequences
Arkema will accelerate its efforts on its “Transformative priorities” which drive the evolution of the Group's business model.
- For "Innovation towards sustainable solutions ", priority Is defined as "Develop and promote a range of solutions enabling sustainability"
- For "Circular Economy" which also includes "Waste and Water Management", priority is defined as "Further implement and enable circularity on our sites and along our value chain".
For these two first priorities, the Group will rely in particular on its five strategic Innovation platforms and on its Archimedes program, which consists in assessing its solutions portfolio vis-à-vis their contribution to the UN Sustainable Development Goals (SDGs), and will continue its actions in order to achieve its long-term target of 65% of ImpACT+ solutions.
- For "Climate, Energy and GHG Management" priority, the Group strengthened its commitments in July 2022 to align its objectives with 1,5°C ambition of Paris agreement.
On “Continuous improvement areas for CSR excellence”, Arkema will maintain its strong efforts on people health, safety and well-being, on prevention and management of industrial risks and on product safety and stewardship. Early 2022, the Group has already raised its long term objectives related to people and process safety.