Better Health for All

No specific, concrete data points were found in the provided articles to assess Innospec Inc. against the 'Better Health for All' ethical value. The articles primarily focus on environmental sustainability, general community engagement, and internal employee well-being programs, which fall outside the scope of this value's definition or its specific KPIs. Information regarding the net health effect of the firm's principal goods or services

, revenue from harmful products , user safety records , product price accessibility , reach to vulnerable populations for health needs , health innovation investment specifically for health outcomes , health externalities directly impacting human health , health equity programs , healthcare workforce support , preventative health measures for the public , healthcare data responsibility , global health crisis response , mental health initiatives for the public , risk transparency related to health , pharma patent flexibility , nutrition and food safety , healthcare education , addiction mitigation , or clinical trial ethics was not provided.

Fair Pay & Worker Respect

Innospec reported an employee lost time accident rate of 0.32 per 100,000 hours worked, which translates to a Total Recordable Incident Rate (TRIR) of 0.64 per 200,000 hours.

The company's annual turnover rate was 5.3%, the lowest since 2019. Innospec employs 2,477 individuals across 22 countries. Employee tenure data shows that 55% of employees have been with the company for 5 years or more, and 33% for 10 years or more. In 2024, 90% of employees received career and skills training, amounting to over 19,000 hours, and 100% completed their annual compliance certification.

Honest & Fair Business

The company has a formal whistleblower protection policy, including a 24/7 confidential hotline (EthicsPoint) and email reporting options, available in multiple languages and locations worldwide, with documented investigation procedures.

A 100% completion rate for the 2024 Employee Annual Compliance Certification program, which covers the Code of Conduct, indicates that the policy and annual training are in place, but the program's effectiveness (e.g., uptake rates, resolution times) is not publicly measured. The company also has a comprehensive anti-corruption and anti-bribery policy, with a 100% completion rate for its 2024 annual compliance training program, which covers anti-corruption, anti-bribery, and related topics. Training includes regional in-person induction, weekly new starter sessions, and refresher courses, and the policy includes third-party due diligence.

Kind to Animals

Innospec uses Next Generation Risk Assessment (NGRA) approaches, integrating New Approach Methodologies (NAMs) to avoid animal testing, and is actively applying new cutting-edge approaches to safety assessments, including for specific commercial product lines.

The company does not conduct any animal tests in-house and has an Animal Testing Policy, refreshed in 2024, dedicated to reducing and replacing animal testing. These NGRA approaches have spared several thousands of animals from unnecessary testing over the past three years. In 2024, 490 animals were used for legally required safety evaluations. Innospec spent US$47.8 million on R&T in 2024, with US$200,000 allocated to an ICCS funding project, representing less than 1% of its R&D budget. Innospec is an active member of the Animal-Free Safety Assessment (AFSA) and the International Collaboration on Cosmetics Safety (ICCS), and partnered with major cosmetic companies to apply for ICCS funding for a two-year project commencing in 2025. The company is actively engaged with AFSA and ICCS to promote animal-free assessments and encourage regulatory uptake, and is working with Unilever to prevent unnecessary animal testing. Innospec reserves the right to inspect facilities of contract laboratory service providers, but there is no evidence of actual welfare audits being conducted.

Planet-Friendly Business

In 2023, the company's total reported Scope 1, 2, and 3 GHG emissions were 2,063,031 tCO₂e, representing a 17% reduction from 2022.

In 2024, 19% of the total energy mix was sourced from renewables, although 100% renewable electricity was procured for all 14 manufacturing facilities. The company diverted 58% of its waste from landfill through recovery and recycling in 2024. No environmental compliance violations were explicitly mentioned in the provided articles. The company has set targets to reduce Scope 1 and 2 emissions by 50% from a 2014 baseline and Scope 3 emissions by 28% from a 2022 baseline, both by 2034. The company has committed to TCFD alignment, with initial gap analysis completed. Over 90 products have completed carbon footprint assessments.

Respect for Cultures & Communities

Innospec has 7 formal partnership agreements with indigenous or local community groups, including new partnerships in 2024 with International Justice Mission, UNESCO (supporting Indigenous STEM education), Cheshire Wildlife Trust, and Indspire (a national Indigenous charity).

Older partnerships include Blanchisserie A.P.E.E.R, WeWoLe, and Saint Lucia Social Cooperative. In 2024, Innospec's direct monetary contributions to community development were $709,086, representing 0.038% of its $1.85 billion revenue. The company's Human Rights Policy supports the principles of Free, Prior and Informed Consent (FPIC) and states 97% transparency at mill and refinery levels for palm volumes sourced, but only 70% at the plantation level. Innospec works directly with one Indigenous company to help meet the fuel needs of their local communities. The company donated €3,000 for the preservation of Kulturhaus Leuna. All Canadian employees have participated in Indigenous Awareness and Indigenous Relations professional development training, but a company-wide completion rate for cultural sensitivity training is not provided. No cultural appropriation incidents have been reported.

Safe & Smart Tech

In the last three fiscal years, Innospec has not experienced any material cybersecurity threats, with related expenses being immaterial.

The company states compliance with international data protection requirements and external standards like TISAX and MIS2 in Europe, and mentions GDPR compliance. It also integrates cybersecurity risk management into its broader framework, with IT leadership assessing and managing risks. Innospec is a member of the British Computer Society (BCS) and The Chartered Institute for IT, upholding the BCS Code of Conduct.