Better Health for All
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Umicore demonstrates exceptional risk transparency through comprehensive ESG information disclosures, aligned with EU CSRD requirements and externally assured. Its CSR report follows GRI guidelines, covering environmental issues, hazardous waste, GHG emissions, and energy consumption.
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The company provides an anonymous grievance contact form for stakeholders
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and proactively informed the Flemish Environment Agency (VMM) and residents about elevated lead levels near its Hoboken site in March 2024.
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However, Umicore has significant health-harming externalities with partial remediation efforts and ongoing community impacts. Historical pollution from mines (1914-1971) continues to affect soil, water, and vegetation.
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In January 2017, children near its Hoboken lead refinery showed elevated lead levels, with one child having seven times the safe limit.
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In March 2024, exceptionally high lead concentrations, up to 9422 ng/m³, were measured in particulate matter near the Hoboken site, compared to a 2023 maximum of 618 ng/m³.
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In 2023, arsenic targets were exceeded at two monitoring sites.
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Mitigation efforts include an annual environmental investment of €25 million,
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a 55% reduction in diffuse metal emissions since 2020,
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and a 28.8% reduction in Scope 1+2 GHG emissions since 2019.
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The company also sources 41-46.3% of its electricity from renewables
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and 52-65% of metal-containing materials from secondary sources.
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Fair Money & Economic Opportunity
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Umicore S.A. is a global materials technology and recycling group, not a financial institution. The provided articles describe its operations in catalysis, energy & surface technologies, recycling, and specialty materials, along with its supply chain due diligence, human rights initiatives, and community support programs. There is no evidence that Umicore offers financial services such as lending, deposits, insurance, or consumer credit products. Consequently, all Key Performance Indicators (KPIs) under the "Fair Money & Economic Opportunity" value, which are designed to assess financial institutions, are not applicable to Umicore's core business model.
Fair Pay & Worker Respect
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Umicore's Total Recordable Injury Rate (TRIR) improved to 7.5 per million exposure hours in 2023, down from 9.0 in 2022.
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This translates to a TRIR of 1.5 per 200,000 hours.
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However, a fatal contractor accident occurred at Hoboken in 2023.
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The company has a publicly available policy statement committing to worker health and safety and expects the same from suppliers.
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Employee engagement, as measured by a Glassdoor employee rating, stands at 3.7 out of 5 stars.
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Umicore has also implemented policies covering human rights, the right to organize, collective bargaining, equal opportunities, non-discrimination, and bans on child and forced labor, supported by a Global Framework Agreement with IndustriALL Global Union.
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Fair Trade & Ethical Sourcing
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For primary cobalt, Umicore achieves 100% traceability to the mine, and for lithium, 99.8% of volumes are traceable to the mine.
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Nickel traceability to the mine level is at 93%.
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However, traceability for recycled cobalt ends at the recycler.
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The company reported zero substantiated forced or child labor incidents in 2024, with previous allegations in lawsuits against suppliers being dismissed or dropped by the courts.
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Umicore has strong supplier monitoring systems and proactive risk assessments in place. For suppliers sourcing from or transporting through conflict-affected and high-risk areas, and for non-certified suppliers in high-risk countries, on-site audits occur every three years.
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Non-certified suppliers in medium- or low-risk countries are visited every five years.
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Corrective action plans for high-risk impacts are expected to be implemented within six months (180 days), and within nine months (270 days) for medium-to-high risk issues.
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Honest & Fair Business
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Umicore has a robust anti-corruption and anti-bribery policy, which includes preventative measures like due diligence for third-party relationships, training programs, and risk assessments.
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This policy resulted in zero confirmed corruption or bribery cases in 2024.
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The company's overall EcoVadis score is 73/100
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, with its sustainability reporting verified by Ernst & Young with limited assurance.
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Umicore has a formal whistleblower protection policy, the "Integrity Line," accessible 24/7, allowing anonymous and confidential reporting without fear of retaliation.
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39 cases were reported in 2024, and feedback is provided within 2-3 months.
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The median resolution time for complaints is 2-3 months.
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As of December 31, 2024, 60% of the Supervisory Board members were independent.
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However, a "360° Watch" identified at least one significant controversy regarding ethics issues in the last ten years, including a medium severity adverse report regarding corruption.
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The company incurred minor ethics-related regulatory fines, including RMB 4,000 for false declaration of imported goods, USD 6,087 for an OSHA H&S standard violation, and RMB 10,000 by an Emergency Management Bureau.
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Kind to Animals
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Umicore does not perform animal testing itself; studies are performed by third parties vetted for ethical and animal welfare standards.
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Animal testing is only authorized when legally required and no scientifically viable alternative exists, adhering to the 3Rs principle (Replacement, Reduction, Refinement).
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The company prioritizes non-animal testing approaches, using integrated strategies such as computer modeling, in vitro assays, in vivo test-waiving, read-across, and New Approach Methodologies (NAMs).
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Umicore is a member of over 20 REACH consortia and sector associations, supporting data sharing and advocating for metal-specific non-animal testing strategies.
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The company also works with local authorities and environmental organizations on environmental issues, such as the Ostrobothian environmental coordination organization in Kokkola and a working group on the resilience of the Olens Broek.
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No War, No Weapons
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Umicore states that all transactions have been in compliance with sanctions regimes (EU, US, UN) and are monitored and approved by its Trade Compliance team.
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The company has a formal policy for conflict-zone exposures and responsible supply chains, committing to immediately suspend or discontinue relationships with suppliers linked to serious abuses or unwilling to improve on "zero tolerance issues."
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Umicore adheres to the EU's conflict minerals regulation 2017/821 and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, with policies in place to ensure humanitarian standards and a commitment not to tolerate war crimes or gross human rights violations.
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Annual risk assessments and Business Partner Screenings are performed for all direct suppliers.
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Umicore's due diligence management system aligns with the UN Guiding Principles on Business and Human Rights and the OECD Due Diligence Guidance, with public reporting and independent assurance by PwC.
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The company has codified "zero tolerance issues" as ethical red lines, banning torture, forced labor, war crimes, and direct or indirect support to armed groups.
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An annual review process for partners with conflict-related risks is in place, with the Approval Committee meeting four times in 2024 to discuss supplier risks.
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Umicore generally does not purchase precious metals from conflict-affected and high-risk areas, and achieves 100% traceability for cobalt, 99.8% for lithium, and 93% for nickel raw materials.
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Planet-Friendly Business
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Umicore's total Scope 1, 2, and 3 greenhouse gas emissions for 2024 were approximately 6.753 million tCO₂e (0.286 million tCO₂e for Scope 1+2 market-based and 6.467 million tCO₂e for Scope 3).
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The company's 2030 GHG emissions reduction targets for Scope 1, 2, and 3 have been validated by SBTi and are aligned with a 1.5°C pathway, including interim targets for 2025 and 2030.
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In 2024, 46.3% of Umicore's global electricity usage was sourced from renewables.
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For 2024, 55.5% of Capital Expenditures were aligned with the EU Sustainable Taxonomy.
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The company reported no specific environmental compliance violations for 2024.
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A net-zero target for Scope 1 and 2 emissions is set for 2035, with interim reduction targets of 20% by 2025 and 50% by 2030.
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Umicore notes alignment with TCFD recommendations, integrating climate-related and environmental risks into its Enterprise Risk Management (ERM) process using a scenario-based approach.
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Respect for Cultures & Communities
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Umicore provides comprehensive grievance mechanisms, including a public and global Integrity Line accessible via website and phone for both internal and external stakeholders
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, and multiple internal channels
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. This system is translated into 10 languages
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and allows reports in preferred languages
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. The company has a framework for responding to cultural incidents, engaging with suppliers and stakeholders to investigate and follow up on community-related issues
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, and its Code of Conduct Committee analyzes reported cases, evaluates responses, and offers remediation to harmed communities
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. No cultural appropriation incidents have been reported
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. However, the average time to resolve community complaints is stated as not exceeding three months (90 days)
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Safe & Smart Tech
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Umicore successfully renewed its ISO/IEC 27001:2022 certification at the beginning of 2025, which is an internationally recognized information security standard.
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The company provides data subjects with comprehensive rights, including the ability to withdraw consent, request data erasure, access, correction, restriction, and object to processing, as well as the right not to be subjected to decisions based solely on automatic processing.
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Umicore adheres to data minimization principles, processing only relevant, adequate, and non-excessive information, and retains personal data for a period reasonably necessary for its stated purposes, such as a maximum of 2 years for consent-based data and unsuccessful job candidates.
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The company demonstrates good regulatory compliance, adhering to IFRS Accounting Standards, Belgian legal and regulatory requirements, ESEF requirements, South African PAIA and POPI Acts, and applicable data protection laws within the EEA.
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Zero Waste & Sustainable Products
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Umicore achieved an overall waste diversion rate of 18.51% in 2023, calculated from an 8.8% recycling rate for hazardous waste and a 61.1% recycling rate for non-hazardous waste.
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In 2024, 52% of Umicore's metal-containing input mix was sourced from secondary materials.
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The company is a world leader in circular materials technology and recycling, operating a closed-loop business model where all materials are developed to accommodate waste reduction.
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Umicore manages hazardous waste through a multi-step treatment approach for end-of-life lithium-ion batteries, which includes discharging, pyrolysis, and neutralizing hydrofluoric acid.
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