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Note 9: Safety

AkzoNobel strives to deliver leading performance in health, safety, environment and security (HSE&S) with a vision to deliver zero injuries, waste and harm through operational excellence. The strategic priorities set by the Executive Committee for 2017-2020 are to drive: Continuous improvement of HSE&S processes to achieve leading maturity levels The implementation of the HSE&S management systems to achieve zero losses of primary containment and zero regulatory actions A commitment-based HSE&S culture and embed operational excellence to achieve our vision of zero injuries, waste and harm During 2017, AkzoNobel made progress in delivering on each of [...]

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Note 10: Human rights

[...] Committee is responsible for ensuring that the company operates in line with our core principles of safety, integrity and sustainability. Since 2016, a cross-functional Human Rights Committee (reporting to the Executive Committee) has been in place, with responsibility for implementing and maintaining the company’s human rights framework. The Compliance function oversees day-to-day human rights compliance. Initial salient issues During 2017, we studied possible impacts on the human rights of people across our value chain, building on the salient issues initially identified in 2016 (health and safety; working conditions; discrimination and harassment; under-age [...]

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Medium-term risks

[...] contribute to defined contribution schemes wherever possible. A number of defined benefit pension and healthcare schemes from the past are generally funded through external trusts or foundations, where AkzoNobel faces the potential risk of funding shortfalls. Mitigating actions Our policy is to offer defined contribution schemes to new employees and, where appropriate, to existing employees. The most significant defined benefit schemes are the ICI Pension Fund and the AkzoNobel (CPS) Pension Scheme in the UK. Both are closed to new entrants. They are managed and controlled by independent trustees. The funded status of these schemes is affected by the trustees’ [...]

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Specialty Chemicals

[...] opportunities to unlock further value. Specialty Chemicals is a world class business, evidenced by our safety record and solid financial performance. Our unique portfolio, commitment to continuous improvement and strong customer relationships have helped us achieve high profitability and leadership positions throughout our businesses, with 80% of revenue coming from number one or two positions. Given our strong presence in high growth markets, discipline in execution and strong culture focused on results, we are well positioned for future success (see Supervisory Board Chairman’s statement for more details on the separation process). * Based on reported figures, [...]

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Specialty Chemicals

[...] from AkzoNobel in 2018. In addition to our record financial performance, we also achieved the lowest safety incident rate in the history of AkzoNobel’s chemicals business. Over the last two years, we have reduced our incident rate by 58%. With the foundations in place, we are now focusing on the next stage of value creation – organic growth. This gained traction in 2017, driven by increasing demand from our customers. To satisfy this growing demand, we approved a series of debottlenecking investments and expanded several sites in all our key regions. For example, in China, we completed an expansion at our Boxing plant – significantly increasing Surface [...]

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Note 1: Sustainable products

[...] parameters: energy efficiency; use of natural resources and raw materials; land use; emissions and waste; safety risks; toxicity; health and well-being. Products are assessed across their lifecycle and benchmarked against current competitor solutions, making it a moving target. The eco-premium portfolio is dynamic as 3% of revenue has ceased to be classified as eco-premium due to competitive offerings having caught up. At the same time, new solutions have been introduced to the portfolio, also accounting for 3% of revenue. Eco-premium solutions with downstream benefits in % of revenue Eco-premium solutions with downstream benefits per Business Area in % of revenue [...]

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Independent assurance report

[...] on the data and consolidating the data in the sustainability information Joining internal audit of Health, Safety and Environment management at production sites in Delfzijl (Netherlands) An analytical review of the data and trends submitted for consolidation at corporate level Reviewing internal and external documentation to determine if the sustainability information, including the disclosure, presentation and assertions made in the sustainability information, is substantiated adequately Assessing the consistency of the sustainability information and the information in the Report 2017 not in scope for this assurance report Assessing whether the sustainability [...]

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