External recognition

CDP

CDP runs a global disclosure system that enables companies, cities, states, and regions to measure and manage their environmental impacts, with a focus on climate change, water security, and deforestation. A detailed and independent methodology is used to assess companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness, and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Entities that do not disclose or provide sufficient information are marked with an F. The CDP questionnaire is aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Corbion has been participating in the CDP Climate Change and Supply Chain programs since 2016 to provide transparency on how we manage risks and opportunities related to climate change. In 2018, Corbion started participating in the Forests questionnaire and in 2020 we participated in the Water questionnaire for the first time. Our CDP disclosures on Climate Change and Water are publicly available.

EcoVadis

EcoVadis sustainability ratings and scorecards assess the environmental and social performance of companies. The assessment framework covers 21 sustainability criteria (from CO₂ emissions to human rights and business ethics) aligned with GRI, Global Compact, and ISO 26000.

Corbion received the Platinum rating in the 2021 EcoVadis CSR assessment, which implies Corbion is in the top 1% of all suppliers in our sector, assessed worldwide. In 2022, Corbion underwent a new EcoVadis CSR assessment. The new rating will be announced in January 2023 and will be based on a revised scoring threshold raised higher by EcoVadis for 2023. Our full EcoVadis sustainability profile and current rating are on Corbion’s website.

Sustainability governance

Under the chair of the Chief Executive Officer, the members of the Executive Committee have overall responsibility for sustainability and decide on the strategy and targets. The Executive Committee shares responsibility for developing objectives and the strategy, determining the risk profile, and implementing strategic and operational policies. Annually, there are two formal meetings with the full Executive Committee to discuss sustainability. Sustainability is integrated into daily operations and decision-making on capital expenditure and innovation projects, mergers and acquisitions, and raw material sourcing, amongst others.

Regarding climate change, a dedicated Climate Change Steering Committee, chaired by the CEO with the CFO, COO, and CSSO as members, meets quarterly. This steering committee oversees Corbion’s climate-related risks and opportunities, monitors progress versus targets, and determines whether Corbion’s targets are still aligned with the latest science.

Corbion’s CO₂-reduction R&D program is managed by the Sustainability Council, led by the CSSO, which includes representatives from Operations, R&D, and Finance. The council is responsible for the management of the stage-gate process and priority setting.

Corbion’s Sustainability Sounding Board, which includes representatives from all Corbion business units and functions, advises the Director of Sustainability and the CSSO on the sustainability strategy and specific initiatives.

In 2022, we initiated a new Sustainability Reporting Committee composed of cross-functional disciplines to actively address developments regarding existing and emerging regulations concerning climate change and other sustainability-related disclosures. This includes, but is not limited to, the EU Taxonomy, CSRD, TCFD, TNFD, IFRS/ISSB prototype standards, science-based targets, and CDP.

In 2022, the Supervisory Board installed a Sustainability and Safety Committee. Its members are William Lin (Chair), Liz Doherty, and Dessi Temperley. The Sustainability and Safety Committee met three times in 2022 (see the Report of the Supervisory Board for more information).

To reward our employees for their contribution to our sustainability initiative, both the Short-Term Incentive Plan (STIP) and Long-Term Incentive Plan (LTIP) include sustainability targets. One of these targets is the progress toward achieving our science-based target. See the section Remuneration Board of Management for more information on these incentive plans; the STIP and LTIP targets that are agreed with the Board of Management also apply to all employees participating in the STIP and LTIP.

Reporting policy

This annual report has been prepared with reference to the GRI Standards 2021 (see GRI content index). The selection of topics included in the report is based on a materiality assessment (see Materiality and stakeholder engagement). The environmental and social results for the material topics in this report cover all entities that belong to the scope of the consolidated financial statements. Our joint venture TotalEnergies Corbion is excluded. The scope of the environmental data includes Corbion’s manufacturing sites. Offices and R&D laboratories are not included, except for our R&D laboratories and offices located at our Gorinchem, Totowa, and Araucária manufacturing sites. Our site in Querétaro, Mexico, which was acquired in 2021, is not yet included in the reporting scope. In 2022, we have updated our policies regarding the inclusion of acquisitions in the reporting scope – starting this year, acquisitions are included after a full reporting year.

Data is collected from various reporting systems. For each KPI, data reporters and data reviewers are designated, either at site level or at corporate level. The data reporter is responsible for the annual reporting of the data via the central reporting systems and for document retention and record-keeping related to this data. The data reviewer (from Finance) is responsible for the validation of the reported data. Site-specific data is consolidated and reviewed at corporate level by Finance and the sustainability team. The review includes a comparison to data from previous years and a review of changes that could have impacted the results, such as improvement projects. In case of uncertainties, data estimation may be required, which is validated during review. We strive to continuously improve the data collection process and the reliability of the data. Significant changes that impact comparability including changes in measurement methods are explained in footnotes.

Non-financial KPIs marked by "√" are reviewed by the external auditor.