About this report
The Umicore annual report offers a comprehensive and integrated view of our economic, financial, environmental, value chain and social performance for 2020.
This report is divided in 2 parts: an annual review of key performance aspects as they relate to our Horizon 2020 strategy, followed by the full financial, environmental, value chain, social and governance statements and notes. All elements of the Annual Report can be consulted at annualreport.umicore.com
AN INTEGRATED APPROACH
One of the key objectives of this report is to reflect our integrated strategic approach which combines economic, environmental, value chain and social performance targets. This report further refines the approach based on elements from the “International Integrated Reporting Framework” developed by the International Integrated Reporting Council, which requires a more complete disclosure and discussion of the material factors influencing our business and the risks and opportunities linked to our Horizon 2020 strategy.
Umicore has aligned the corporate reporting to the non-financial reporting requirements set out in article 3:32, §2 of the Belgian Companies’ and Associations’ Code.
This report covers our operations for the 2020 calendar year which is also the Umicore fiscal year, and reports on the progress towards our Horizon 2020 objectives. The scope of all objectives and a brief description of the methodology behind all performance indicators are included in the statements section of the report. Where data are available, the performance indicators in the document are reported with a comparison base going back 5 years.
The economic scope of this report covers all fully consolidated operations and the financial contributions of all associate and joint venture companies.
The environmental and social scope is limited to all fully consolidated – any divergence from this scope is explained in the relevant chapter or note in the report.
The economic and financial data are collected through our financial management and consolidation process. The environmental and social data are collected through environmental and social data management systems and integrated into a central reporting tool, along with the economic and financial data.
This report has been independently verified by PwC Bedrijfsrevisoren/Réviseurs d’Entreprises (PwC).
PwC’s audit of financial information is based on full set of IFRS consolidated financial statements on which it has expressed an unqualified opinion. For the full set of IFRS consolidated financial statements, see the Financial Staments chapter. The social, value chain and environmental information included in this report has been prepared on the basis of the same recognition and measurement principles that have been used to prepare the social statements chapter, environmental statements chapter and value chain statements chapter.
This report has been prepared in accordance with the GRI Standards: Core option. A full GRI index can be found on pp. 200 – 202. The Global Reporting Initiative (GRI) is a networkbased organization that pioneered the world’s most widely used sustainability reporting framework.
PRESENTATION & FEEDBACK
Umicore seeks to improve its reporting through a continuous process of stakeholder engagement and dialogue. The key social elements of the report are presented to the international trade unions during the joint monitoring committee in March, while the entire document is presented to shareholders at the Annual General Meeting in April.
Umicore also commits to consider all improvement points recommended by the independent auditor (PwC) in its subsequent reporting cycles. General reader feedback is encouraged on both the print and online versions of the report. Feedback received on our previous reports has been considered in the preparation of this report.
To share your feedback on this report, visit: UMICORE.COM/AR-FEEDBACK