Introducing Futureproof

Futureproof is the framework through which we will deliver our strategic goal of sustainability leadership. Building on our progress to date, we are starting on the journey of our five-year strategy.

Our ambition is to radically advance our environmental and social performance so our company, customers and employees thrive now and in the future. And we won’t rest until sustainability is at the heart of how we do business.

This means staying a step ahead so we better serve our customers, build trusted partnerships across our value chain, drive efficiencies in our operations and manufacturing and ensure equal opportunities for employees.

Guided by our values, we are ready to make bold decisions as we move forward on our path to leadership.

Our journey is both a marathon and a sprint and we will accelerate progress on many fronts. Our goals are the bedrock on which we will continue to build and evolve, pushing our own performance standards forward at pace. Our framework reflects our ambition to shape the future.

We will focus our efforts and commitments where we can have the biggest impact:

Performance
Products
People
Partners

We are futureproofing our business growth by radically reducing our environmental footprint. Like all companies, we have a responsibility to reduce the emissions and waste we create and the amount of resources we use. As a coatings company, our focus is also to continuously reduce and phase out hazardous raw materials. We need to do this at the same time as we double in size. The only answer is to break the link between our growth and our environmental footprint. We will do this by relentlessly improving our efficiency and by transforming how we and our value chain work.

For our performance we will:

Achieve a 90% reduction in our direct carbon emissions (Scope 1 and 2) by 2026
Introduce a five-year reduction plan for reducing and phasing out hazardous raw materials
Accelerate our efforts towards biocide-free products in all segments
Achieve zero waste to landfill by 2025
Halve the amount of scrapped finished goods and raw materials, even as we double in size
Introduce a water program in 2021

We are futureproofing our solutions to help our customers achieve their sustainability ambitions and advance both our and our customers’ competitive position.

Customers increasingly expect their suppliers to help them deliver on their own sustainability commitments. Hempel products already help customers make their ships more efficient, keep buildings cooler, potentially save lives through increased fire safety and extend the lifetime of their assets.

We will constantly evolve our offer and build new value propositions for customers; pioneering new ways to combine services, technology and products to deliver transformative solutions that support customers’ sustainability goals.

For our products we will:

Make sustainability a key driver of all product development and innovation
Reduce customer emissions by at least 30 million tonnes CO₂e by 2025
Introduce comprehensive circularity roadmap in 2022
Ambitiously reduce customer waste
Achieve 50% recycled content in primary plastic packaging by 2025

We are futureproofing our culture by setting ever higher standards on safety, fairness, inclusivity and healthier working practices.

Safety will remain our number one priority. We will foster a safety culture to safeguard the health of employees and the partners we work with.

We will invest in programmes that improve the health and wellness of our employees and enrich the experience of working at Hempel. We want to make Hempel not only a great place to work but also an example of how inclusivity and diversity, fairness and respect leads to better business performance and broader benefits to society.

For people we will:

Build an even stronger safety culture and eliminate all Lost Time Accidents and other injuries
Champion and promote physical and mental health, and wellbeing
Achieve a target of 30% women in general workforce and management by 2025
Promote inclusion and diversity in relation to gender, age, culture, ethnicity, physical and mental abilities, religious beliefs and sexual orientation
Create a framework for fair compensation, equal pay for equal work and insurance
Provide flexible benefits to fit employee lifestyle & preferences
Introduce an extended family support program

We are futureproofing our value chain through open and positive partnerships.

We can’t achieve sustainability leadership in a bubble. We need to work in collaboration with our suppliers just as much as with our customers, raising standards, inspiring breakthrough innovation and challenging traditional practices.

We will actively seek new opportunities to partner with expert and influential organisations who can support our commitments.

With our partners we will:

Reduce CO₂ emissions in our value chain based on science-based targets in accordance with the 1.5°C pathway
Promote and further good ethical behavior and environmental practices in Hempel’s supply chain
Engage systematically with our customers to establish sustainability partnerships

Our sustainability framework is an integrated part of the Hempel corporate strategy 2021-2025. Progress on the goals and associated projects are integral to the monthly strategy progress reporting with our Executive Management Board (EMB).

Sustainability will be wired into key decision-making processes, such as M&A and other investment decisions. We will also make sustainability an even stronger part of our overall KPI structure and embed our performance into incentives and bonus programs. Further strategic development is led by Group Sustainability and Government Affairs in collaboration with functions, regions and segments.

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