We have focused on the most material elements that drive our business in order to define our Horizon 2020 strategy.
Materiality assessmentUmicore strives to plan for the best possible future by remaining in a healthy and competitive position whilst considering global economic, social and environmental megatrends. We used a materiality analysis to define the Horizon 2020 goals.
Our Vision 2015 strategy built on existing competencies, market positions and our long-standing expertise in metallurgy, materials science, application know-how and recycling, and combined them with our closed-loop business model to give us strong growth potential in clean air, clean energy, vehicle electrification and addressing resource scarcity.
Horizon 2020, launched in 2015, represents continuity in Umicore’s strategic choices over the past decade and sets out further economic, environmental, value chain and society challenges. The definition of the environmental, value chain and society objectives for the Horizon 2020 strategy involved a materiality assessment to identify areas with the potential to turn sustainability into a greater competitive edge.
The first step showed that the megatrends of resource scarcity, the need for clean air and vehicle electrification are strengthening and should therefore stay at the heart of our economic growth ambitions. In the second step, we drew up a list of material topics based on feedback from internal and external stakeholders and external research. The resulting matrix served as base to define the scope of the environmental and social Horizon 2020 objectives. All of the objectives were then validated by the Executive Committee.See full review