The method developed by Arkema is based on the methodological guide issued by the WBCSD* and looks at the whole of the value chain. It is deployed by each of Arkema’s activities as well as business expertise teams, R&D and regulations.
For each solution, it initially establishes the potential risks, whether these are related to regulatory trends or market demands. If a risk is identified for a solution, we define the best actions such as alternative development or substitution. If the solution presents no risk, we assess its contributions (positive or negative) to the UN’s Sustainable Development Goals (SDG).
The assessment takes into account, as far as knowledge allows, the entire value chain from raw materials to the end of product life including manufacturing processes. It is carried out by unfolding three sets of criteria:
- the basic requirements which reflect (i) the Group's commitments relating to product responsibility in terms of safety, health and the environment, (ii) the principles of ethics and respect for human rights, as well as that (iii) elements of economic profitability;
- medium and long-term trends in the regulatory framework and market expectations in terms of sustainable solutions;
- and the contribution to the UN's Sustainable Development Goals (SDGs) by taking standard market solutions as a reference. Ten SDGs most relevant to the Group's activities have been selected.
This analysis has a real impact on the policies of our Business lines, which are encouraged to focus on innovation and sales of virtuous solutions.
At the end of 2020, 72% of sales had been assessed, and 50% of these featured one or more significant positive contributions to the UN’s Sustainable Development Goals (ImpACT+), with no significant negative contribution. This approach is being pursued in 2021 to increase the proportion of sales that are assessed, and in the long term to increase our contribution to the Sustainable Development Goals.
In order to strengthen its commitment to a sustainable offer, Arkema has set a strategic objective: a 65% share of ImpACT + sales in 2030. To achieve this strategic objective, the Group is implementing voluntary actions on three main levers, which are the continuous improvement of solutions, sustainable innovation in products and applications, as well as the active promotion of ImpACT + solutions.
*World Business Council for Sustainable Development (WBCSD). This global organization has more than 200 major corporate members which work together to accelerate transition to a more sustainable world.