About this report

An integrated approach

The Umicore annual report offers a comprehensive view of performance for 2021 and reflects our integrated strategic approach which combines economic, environmental and social performance targets. This report further clarifies the integrated nature of Umicore’s performance using the “six capitals” approach to integrated reporting defined by the International <IR> Framework.

This report contains an overview of our strategic approach, an annual review of key performance aspects as they relate to our Clean Mobility & Recycling and Let’s go for Zero strategies, a view of leadership and governance, followed by the full financial, environmental, social and governance statements and notes.

This report has been prepared in accordance with the GRI Standards: Core option. As part of our commitment to increased disclosure, this report also contains first elements towards meeting SASB, TCFD and WEF disclosure guidance. To find disclosure in accordance with these frameworks, please consult the indexes GRI/SASB index. The report also discloses which Umicore activities are eligible for the EU Taxonomy.

Umicore has aligned the corporate reporting with the non-financial reporting requirements set out in article 3:32, §2 of the Belgian Companies’ and Associations’ Code.

All elements of the Annual Report can be consulted in English and in Dutch by browsing the dedicated website annualreport.umicore.com or downloading the report from that address.

Reporting scope

This report covers our operations for the 2021 calendar year which is also the Umicore fiscal year, and reports on our progress towards our Clean Mobility & Recycling and Let’s go for zero objectives. The scope of objectives and a brief description of the methodology behind 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 referring back by 5 years.

The financial 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 operations – any divergence from this scope is explained in the relevant chapter or note in the report. Definitions for the terms used throughout this report can be found in the Glossary for the report, online.


The 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 financial data.


This report has been independently verified by Ernst & Young (EY). EY’s audit of financial information is based on the full set of IFRS consolidated financial statements on which it has expressed an unqualified opinion. This full set of IFRS consolidated financial statements and the auditor’s report thereon, can be found on Financial statements-Management responsibility statement and Independent auditor’s report to the general meeting of Umicore NV for the year ended 31 December 2021.The social 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 and environmental statements,Environmental Statements- Governance statements. EY’s report on the social and environmental statements can be found on Report of the Independent Auditor. This report has been prepared in accordance with the GRI Standards: Core option. A full GRI index can be found on GRI/SASB index.

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 (EY) in its subsequent reporting cycles. General reader feedback is encouraged on both the online pdf and web 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