Extract from Umicore Group donations and sponsorship (*) policy
(*) In this context “sponsorship” should be considered very distinct from any marketing-related initiative that is designed to generate commercial benefits for Umicore.
Umicore seeks to benefit the communities in which it operates. These benefits can be both direct and indirect. Direct benefits take the form of employment and the payment of local taxes etc. Umicore wants the benefits of its activities to extend beyond these direct impacts and wishes to be seen as a responsible corporation and as a good corporate neighbour. In this context, Umicore wishes to support a number of worthwhile causes both financially, as well as putting time and talent at their disposal.
By supporting these causes, Umicore wishes to promote its reputation and enhance its image and contribute to raising the pride of its employees, while making a contribution to the well-being of the communities in which it operates.
Umicore has decided to channel resources to such sponsorships and donations. The most significant efforts are to be dedicated to local initiatives in the communities surrounding Umicore’s operations at the initiative of the local management and staff and within the budget determined by the relevant business unit. Umicore believes that by charging the sites with the local sponsorship and donation initiatives, it will be able to make a positive difference in the communities in which it operates beyond the direct benefits generated by employment and local taxes. Umicore’s support may include contributions in kind and freeing staff to work on community related projects.
At the corporate level the emphasis is on projects with an international scope with priority being given to initiatives that have a clear link with sustainable development (social, environmental and/or technological), with a specific focus on education. A Group Donations Committee has been established to manage the Group level donations and sponsorship initiatives. The role of the Committee is primarily to select Group-level projects within the scope of the Group budget.