Sustainability is core to our business. We are raising the bar to an even more ambitious sustainable sourcing approach. We go for zero, we go for Zero Harm!
In our entire supply chain, we are committed to promoting fair and ethical business practices, ensure health and safety, and manage the impact on people, climate and environment. In order to do so, we ask all our suppliers to adhere to Umicore’s Global Sustainable Sourcing Policy, complemented by additional guidance for specific materials through a risk-based approach.
To support us in our mission, we seek out like-minded partners who embody the same values. When conducting business with Umicore, all suppliers are expected to adhere to our sustainable sourcing policy, a set of core principles and policies to guard against potential ethical, environmental and social risks in our supply chain, including:
- Business Integrity
- Labor & Human Rights
- Environment & Climate
- Supply Chain Due Diligence
A risk-based due diligence approach
To remain aligned with our continued commitment to sustainable and ethical sourcing, we have defined a risk-based approach to determine the required management systems and performance/compliance monitoring systems. Umicore sites dealing with conflict minerals and Cobalt are certified by the London Bullion Market Association (LBMA), the Responsible Jewellery Council (RJC) and the Responsible Minerals Initiative (RMI).
Additional guidance for responsible sourcing and due diligence of critical raw materials complements the Umicore Global Sustainable Sourcing Policy, such as our Responsible global supply chain of minerals from conflict affected and high risk areas and our Sustainable Procurement Framework for Cobalt.
Life needs energy. Umicore battery materials help supply the energy people need to experience life as they desire it, wherever and whenever. From powering electromobility to storing energy from renewable energy, cobalt has an essential and enabling role in the green energy transition.
We are committed to responsibly sourcing our battery materials, paying special attention to the conditions under which raw materials are extracted and processed. Our experience in sustainably sourcing cobalt is over a decade long, implementing due diligence in the supply chain and promoting traceability at every turn. Directly inspired by our experience with cobalt, we do this for other raw materials for batteries, e.g., nickel and lithium.
We go for Net Zero GHG
To reach our decarbonization goals, efficiency is the priority across our operations and we aim to generate renewable electricity on-site to reduce our need for purchased electricity. But securing long-term green power purchase agreements (PPAs) to source renewable energy is essential in our journey to net zero GHG emissions.
The majority of Umicore's CO2 footprint consists of scope 3 emissions, amounting to 8.3 million tons CO2e in 2019. The upstream emissions linked to purchased goods amounts to 7.3 million tons CO2e in 2019. Umicore has set an ambitious target to reduce the carbon intensity of purchased materials by 42% by 2030.