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Sustainability Reporting and Governance

Transparency and Accountability at Our Core

Sustainability is at the heart of Avantium’s operations. Our goal is a fossil-free world, realized through innovation and robust governance.

Materiality

We engage with our stakeholders regularly to ensure our activities cover the areas that really matter to these different groups. To determine the scope of Avantium’s sustainability focus, Avantium conducts an annual materiality assessment which helps us to identify which economic, social and environmental topics we should prioritize to further improve the way we do business and drive sustainable progress in society. Material topics of very high priority are:

Reporting

Our Annual Report follows the Global Reporting Initiative (GRI) Standards, ensuring full transparency and accountability. The report covers:

– General Disclosures: Information on our organizational profile, strategy, ethics, and integrity.
– Material Topics: Our identified significant economic, environmental, and social impacts.
– Economic Performance: Financial implications, market presence, and economic impacts.
– Environmental and Social Impact: Our contributions to sustainability, covering areas such as energy, water, emissions, and social responsibility.

Ratings

Ecovadis

Avantium was awarded a Gold Medal by EcoVadis, after a thorough audit of our performance in four categories: environment, labor and human rights, ethics, and sustainable procurement.

Sustainalytics

Sustainalytics recognized Avantium as having medium risk for material financial impacts driven by ESG factors.

Upholding High Standards

Sustainability Governance

The Sustainability Steering Board steers the execution of Chain Reaction 2030. It approves plans and courses of action. The Sustainability Steering Board is chaired by the Chief Sustainability Officer, who reports directly to Avantium’s CEO. Members of the Sustainability Steering Board are Avantium’s CFO, the Managing Director of Avantium R&D Solutions, the HR Director and the Communications Directors.

For the implementation of the ten sustainability targets, we have four sustainability task forces (one for each pillar of Chain Reaction 2030) in place, ensuring representation from across Avantium’s business units and departments.

We maintain high standards in ethical business practices:

Code of Good Business Conduct
Outlines our commitment to ethical and responsible business practices.

Speak-Up Policy
Provides a mechanism for employees to report concerns.

Bilateral Contacts Policy
Ensures transparent and ethical interactions with stakeholders.

We also emphasize the importance of confidentiality agreements and the protection of our innovative technologies. For more on our governance and sustainability practices, explore our Annual Report 2023.