Global Sustainable Sourcing Policy
Umicore strives to have a positive impact. We enhance quality of life through our products and services, reducing harmful vehicle emissions, giving new life to used metals and powering the cars of the future.
The Umicore Way, is the cornerstone of everything we do at Umicore. It outlines our values of openness, innovation, respect, teamwork and commitment that are crucial to our success. It defines our mission: Materials for a Better Life.
The Umicore Global Sustainable Sourcing Policy is fully aligned with the Umicore Way, the Umicore Code of Conduct and the Global Framework Agreement on Sustainable Development between Umicore and the IndustriALL Global Union.
Umicore is committed to creating sustainable value with our global network of suppliers through a mutually beneficial relationship based on strong ethical business standards, trust and shared commitments to meet or exceed our customers’ requirements. We therefore seek to do business with partners also committed to the principles of sustainable development and whose partnership supports and is aligned with our strategic ambitions.
Sustainable sourcing is one component in the Zero Harm pillar of Umicore's sustainability strategy. Umicore’s Let’s go for Zero strategy, which was announced in June 2021, is built using the following key pillars:
- Net Zero GHG by 2035
- Zero Harm
- Zero Inequality
- Best in class Governance
Umicore pursues responsible sourcing certification wherever appropriate to highlight our best practices and to provide the necessary documentation to the increasing number of customers seeking assurance on our products. View our certifications here.
This Global Sustainable Sourcing Policy defines the Umicore approach to direct and indirect procurement in line with our commitments to promote fair dealing, to ensure health and safety, and to manage impact on climate and environment in our supply.
These principles are applicable to all our suppliers, as a minimum:
We expect our suppliers to be committed to business integrity, to promote the principles of sustainable procurement in their supply chain, to be compliant with international and local laws, to strive to minimize impact on climate and the environment and to respect international human rights legislation, to abolish child and forced labor and eliminate discrimination on their own sites and from their own suppliers.
Umicore utilizes a risk-based approach to determine where documentation, management systems and performance/compliance monitoring are necessary from suppliers to remain aligned with our continued commitment to sustainable and ethical sourcing. This approach includes considerations on size, business and supplier type, complexity and risk environment.
Additional considerations resulting from this risk-based approach that may apply for specific suppliers are highlighted throughout this Policy. In complement to this Policy, additional guidance exists for specific sourcing approaches, covering various aspects of sustainability including, but not limited to, environmental, health, safety, ethical or regulatory aspects.
These specific approaches include:
Umicore’s engagement to you as a supplier
Fair dealing with suppliers
We treat you with honesty, fairness and respect. Our purchasing activities are conducted in accordance with the highest ethical and professional standards, as set out in our Code of Conduct.
Transparency & communication
We take the engagement to report on a regular and consistent basis, both internally and externally, on our sustainable development supply chain project. In addition, we will provide feedback to suppliers regarding improvements in their sustainable development performance.
We select suppliers based on objective criteria such as technical specifications, quality, price, service and technology, environmental and social impact.
Relations with local communities
We seek to include smaller-sized and local suppliers in our procurement processes, wherever possible, to support the local economy.
Health & safety
We will apply the same health & safety standards to all contractors working on our sites as the ones we apply to our own employees.
Our relationships with suppliers and customers are essential elements in building financial and economic value and play a key role in the promotion of social and environmental best practice.