Publication of the annual report 2021
“Umicore posted all-time record results and cash flows in 2021, despite severe disruptions in global car production in the second half of the year. This impressive achievement was driven by strong underlying operational performance in all business groups and was further supported by an exceptional precious metal price environment.
We launched our Let’s Go For Zero ESG strategy (Zero GHG emissions, Zero Harm, Zero Inequality) which was an important milestone in our long sustainability journey. We unveiled our new ambitions and announced explicit targets for 2030 and beyond. Since then, we have implemented a new ESG governance organization that will allow us to steer the progress in achieving our ESG targets, we have committed to SBTi to ensure that our low-carbon transformation journey is aligned with climate science, we have concluded various green PPAs, we have begun reporting using the recommendation of the Task Force on Climate-related Financial Disclosures and we have signed an inaugural € 500 million sustainability linked loan.
In December, we have announced with Volkswagen AG our intention to create a joint venture for the production of precursor and cathode materials in Europe to supply Volkswagen AG’s European battery cell production. This partnership will further diversify our customer base and will support VW in their ambitious electrification strategy. The JV will be a contributor to the ambitions of the European Green Deal, including the establishment of a European sustainable battery supply chain.
We have already made significant progress in preparing Umicore for its next chapter of growth and are further strengthening our competitive leadership positions in the different value chains. At the same time, we are developing the strategic directions for Umicore towards 2030 and will be sharing these with our stakeholders at our upcoming Capital Markets Day on 22 June.
Finally, I would like to thank all our stakeholders for their contribution to our success in 2021, most especially the Umicore colleagues.”
Mathias Miedreich, CEO of Umicore.
Umicore today published it’s 2021 Integrated Annual Report. It offers a comprehensive and integrated view of our economic, financial, environmental, value chain and social performance for 2021. Umicore is aiming for full disclosure on impact and value to society, with increased reporting, as well as expanded reporting framework use. In addition to the report being produced in accordance with the GRI Standards ‘Core option’, Umicore has begun reporting against SASB, the TCFD and the WEF’s Stakeholder Capitalism Metrics.