/op true 5 0 obj The copper and zinc businesses were divested and spun-off, and some large strategic acquisitions were made, among which Precious Metal Group, a leading global producer of car catalysts, and specialty chemicals company Hall.
Copyright 2022 Sustainalytics. As underlined by the companys newly launched Horizon 2020 strategy, Umicore is all-in on sustainable innovations that address some of societys largest challenges. To browse Academia.edu and the wider internet faster and more securely, please take a few seconds toupgrade your browser. 
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[30], Battery Recycling is a second business unit, focused on the recycling of spent rechargeable batteries from laptops, mobile phones, and hybrid electric vehicles.[31]. (J( ( )( [25], The Recycling business segment covers four main activities: its core business is the recycling and refining of various precious and other non-ferrous metals, as well as certain nonmetals such as selenium. The report provides an integrated view of Umicores progress towards its Horizon 2020 goals of becoming a leader in clean mobility materials and recycling, doubling its earnings, bringing greater balance and focus to its portfolio and turning its sustainability credentials into a greater competitive edge. 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 556 500 800
v#}mD7)0hl NH]g=]8y *h8fL4>wkPO ^ ==p;Q#ST`-=^.Z$y{`). ( It offers a comprehensive and integrated view of our economic, financial, environmental, value chain and social performance for 2021. Usage is permitted to the related "rated" company mentioning AlphaValue as a source. 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 AGs European battery cell production. Surprisingly, they found little agreement on the top issues concerning strategic direction between both. 
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The implied free float of the company is 100%. Initially the UMHK concentrated on mining the state's extensive copper deposits, before diversifying into cobalt, tin, uranium (in which it at one point held a near-monopoly in global supply) and other precious metals. [23] Umicore's copper extraction and refining operations were divested in 2005, with its zinc refining operations following in 2007; these now form part of Aurubis and Nyrstar respectively. ( 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. The Energy Materials division manufactures a range of specialised metal and metalloid products for industrial use, including fine metal powders for diamond and hard metal tools, as well as oxides and salts of cobalt, lithium and nickel for use in batteries, glass and ceramics. stream
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Performance Materials concentrates on the production of specialised items, chiefly from precious metals and zinc. N2gZv>'=v4@r-xH7n*SoJj(T2;M?W6/2?w]QgJ6P /OPM 1
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Sustainalytics' Peer Performance Insights gives an in-depth analysis of your company's ESG strengths and weaknesses compared to your competitors and industry performance. Jewellery and Industrial Metals produces semi-finished precious metals-based products, for jewellery and industrial applications and is a major recycler of scrap and residues from the jewellery industry. endobj
(Q@PEPEPEPE%( ( ( ( J( Banks and lenders can use our ESG Risk Ratings and data as a part of a broader analysis of their clients as well as for innovative product solutions such as sustainability linked loans. When Thomas Leysen became the new CEO in May 2000, he set out the path to transform the company, which at this point was essentially a non-ferrous mining company, into an international materials-technology group. >>
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Where investors are keen to learn how companies plan to keep up with these long-term changes and trends, such as commodity prices, climate change and resource scarcity, companies tend to emphasize their performance on more operational topics such as environmental management and health & safety. We care about your privacy.
endobj endobj /FontDescriptor 15 0 R endobj Unless otherwise explicitly agreed in writing, usage for products and services, index creation, derivative work, portfolio or fund management, or any other usage are not permitted. hello@finchandbeak.com ( 500 500 500 500 500 500 500 500 500 500 500 500 500 500 278 500 500 556 556 /StemH 53 4 0 obj /SA false 648 537 833 704 741 630 741 667 630 556 685 593 907 574 611 574 500 500 500 Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. /Type /XObject (PEP )QE QE1PEPE%QE QE0(AEPE%(QE QE0 endobj The company has been a component of Belgium's benchmark BEL20 stock market index since its 1991 inception. /Producer (pdsplit 4.8.25.2 \(pdf-tools.com\)) )(EPES (QE(
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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. >>
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You can download the paper by clicking the button above. [13] The much enlarged company was initially renamed Acec-Union Minire[13] (although the prefix was dropped in 1992)[14] and subsequently set about streamlining its organisational structure, but the global economic downturn of the early-to-mid-1990s hit profits[9] and forced management to implement a major restructuring programme in 1995. ( Umicore is a global materials technology and recycling group. /colon /semicolon /less /equal 64 /at /A /B /C /D /E /F /G /H /I /J /K /L /M
[6], To symbolise this trend of moving away from mining and the production of commodities and base metals, the group Union Minire changed its name to Umicore in 2001. The report is available in English and Dutch on www.umicore.com. /ColorSpace /DeviceRGB /SM 0.02
This ensured the encapsulation of sustainability into the core of the Umicores activities.
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Mining, originally the lifeblood of the company, no longer plays a direct part in the business: a minority stake in zinc producer Padaeng Industry, which operates a mine in the north of Thailand, was Umicore's last remaining presence in the sector[22] and was sold in April 2008. /quotedblright /quoteleft /quoteright 147 /fi /fl 167 /section 169
[35] Furthermore, Umicore went on to acquire Haldor Topses heavy duty diesel and stationary catalyst businesses in 2017 [36]. Emission or consumption per of capital employed on . [29] Other sources of materials used for recycling include slag, spent fuel cells, automotive and industrial catalysts and scrap electronic equipment. Highest Controversy level that has impacted Umicore's ESG Risk Rating in the last three years. /ToUnicode 16 0 R
The choice was made to only retain business areas that (1) had the possibility to be among the top 3 players in the world, (2) enjoyed clear, long-term competitive advantages, and (3) could embed social and environmental responsibility objectives. The need for cleaner air has never been greater, the adoption of electrified transportation has started to accelerate and resource scarcity continues to be a pressing concern, particularly for those metals that are essential for cleaner mobility and new communications technologies.Marc Grynberg, Umicore CEO, Umicore Publishes Integrated Report 2016: Elements for Success. Umicore generates the majority of its revenues and dedicates most of its R&D efforts to clean mobility materials and recycling. [26] Umicore is the world's largest recycler of precious metals. Formed in 1989 by the merger of four companies in the mining and smelting industries, Umicore has since reshaped itself into a more technology-focused business encompassing such areas as the refining and recycling of precious metals and the manufacture of specialised products from precious metals, cobalt, germanium, zinc, and other metals. >>
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[27] Most of the materials (around two-thirds in terms of refining charges)[28] put through the refining process are by-products from the production of non-ferrous metals, such as dross, matte, and speiss from the zinc smelting industry and anode sludge built up during electrolysis.
( Umicores industrial and commercial operations as well as R&D activities are located across the world to best serve its global customer base. Shareholders became more optimistic about the companys business prospects, and in 2013 Umicore was named the worlds most sustainable company by Corporate Knights, receiving praise for its focus on clean technologies, including emission-control catalysts, materials for rechargeable batteries and photo-voltaics, and advanced recycling. } !1AQa"q2#BR$3br !(!0*21/*.-4;K@48G9-.BYBGNPTUT3? Notice: The information provided is for informational, non-commercial purposes only, does not constitute investment advice and is subject to conditions available in our Legal Disclaimer.
!(!0*21/*.-4;K@48G9-.BYBGNPTUT3? ( It focuses on application areas where its expertise in materials science, chemistry and metallurgy makes a real difference. (QL((! The JV will be a contributor to the ambitions of the European Green Deal, including the establishment of a European sustainable battery supply chain. >> Please read how your data is collected and processed in ourprivacy notice. (Q@(EPQE( (QE0 [24] The unit is headquartered at the company's plant in Olen near Antwerp, with production and commercial facilities in a number of countries worldwide. The hard work started to pay off demonstrated by a strong financial and non-financial performance. w !1AQaq"2B #3Rbr /LastChar 244 4 0 obj ( /Type /XObject Our management score assesses the robustness of a company's ESG programs, practices and policies. Visit our dedicated reporting center:http://annualreport.umicore.com/home/The past year has shown clear evidence that the three megatrends that drive the growth of our business are becoming more pronounced. All Rights Reserved. Its activities are organised in three business groups: Catalysis, Energy & Surface Technologies and Recycling. >> /BleedBox [ 0 0 612.283 790.866 ] endobj The ESG Risk Ratings can help investors to identify, understand and manage ESG risks at the security and portfolio level with the aim of improving the long-term performance of their equity and fixed income securities. JFIF ` ` C ( /Width 1 %PDF-1.7 << ( 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 WEFs Stakeholder Capitalism Metrics. 48 Boulevard des Batignolles75017 Paris, France, Copyright AlphaValue document.write(new Date().getFullYear());All rights reserved. Don't miss out: subscribe and receive monthly news on ESG and sustainable business. A Legal Showdown Over Section 8 Discrimination Is Brewing in Dallas Suburb, FDICs Message to Crypto Investors: Digital Assets Arent Insured, Troubled Crypto Lender Babel Lost Big While Trading Client Funds, Ex-Voyager Executive Explores Competing Restructuring Plan for Crypto Lender. /OP true 9B0 3xbCh [41] The germanium substrates in the car's solar cells were also provided by Umicore. Enter the email address you signed up with and we'll email you a reset link. ( {n8@`]IU gKzcDdb|6_=mRiix.?aR|J2Sa)&CH&)T'Y0+ybWBwmlJaH;DVqUl?#W$$C2;]gU?_IGQlt@#vv*Z/Q~~MR6a*qk]%n Founded in 2007, AlphaValue is the world's leading provider of Independent European Equity and Credit Research. /OPM 1 In early January 1967, the UMHK was nationalized by the regime of President Mobutu Sese Seko,[10] and over $800 million of the company's assets were seized by the state. (QL((aE% QE(`RQ@PE%( (`QE QE RQLaEPIE0 +31 6 28 02 18 80. << Umicore's Management of ESG Material Risk is Strong. /StemV 63 We have an average of 46% of negative recommendations at any one time. N69Y\t:PV, ,U,?pStYS!c^D: Grigorii Bogoslov, Sofia, 2019, Towards ecological management: Identifying barriers and opportunities in transition from linear to circular economy, Global Value Chains from a 3D Printing Perspective, The Global Transformation of Materials and the Emergence of Informal Urban Mining in, Mushroom Packages An Ecovative Approach in Packaging Industry, Experience driven Strategy - Placing the customer experience at the center of the organizational strategy, Innovating Innovation: Deliver Meaningful Experiences in Eco-systems (Gardien, Deckers, Christiaansen), WATER TECHNOLOGY FUTURES: A GLOBAL BLUEPRINT FOR INNOVATION, Innovation Concepts and Typology An Evolutionary Discussion, Sustainable Technology and Business Innovation Framework A Comprehensive Approach, Investigating the Patterns of Value-Oriented Innovations in Blue Ocean Strategy, Critical Insights from a Government Line of Attack - Volume 5, Recycling toward Rare Earths Security (2015), Elements in Everything: Current profile and future trends for the Australian chemicals and plastics industry, GREEN INDUSTRIAL POLICY BOOK AW WEB 2018.pdf, GREEN 2017 - The Second International Conference on Green Communications, Computing and Technologies, Renewable energy as a trigger for industrial development in Morocco, Conceptualization of business excellence model with a grand theory approach ARTICLE INFO, CASE STUDY Utilizing the VFBOP model for entry into emerging markets: Grameen Danone Foods, Sustainability Hotspots Analysis of the Mobile Phone Lifecycle, Company Analysis The Beginning Step for Scholarly Research. JFIF ` ` C /g /h /i /j /k /l /m /n /o /p /q /r /s /t /u /v /w /x /y /z 126 /asciitilde The Umicore case shows how this company was decades ahead of its industry and managed to address both the operational and strategic issues of metals and mining by transforming towards a strong new player in the circular economy. /XHeight 592 [11], The firm suddenly found itself without the vast majority of its business (despite later receiving financial compensation for the physical assets seized by Mobutu's regime)[12] but managed to survive: full ownership passed to conglomerate Socit Gnrale de Belgique, where it was grouped with its other metals and mining interests. /SA false The case was prepared as a basis for class discussion rather than to illustrate either effective or ineffective handling of a business situation. BT8A"(*SQXj"GM&S*J%RIT2BRT.OPT1UFmJ- ]e_~q4))iI9/_%?s^Co7%*AEbbRST[{z5^6]5uIz[;wqog~n{{vK$]Z_}s*nuy@FZrXild-*n2G3}IwCgFi e-f1_m~\G#'2J. [15] The three-year plan, implemented under the guidance of recently appointed CEO Karel Vinck,[16] involved the loss of around 25% of Union Minire's workforce[17] and the sale of a number of non-core assets, including a zinc wire operation,[17] French roofing material retailer Asturienne[17] and much of the company's exposure to the diamond products sector (including Diamant Boart[nl]). Material ESG issues are issues that are considered to be financially material to a given company in a relevant sub-industry. /ColorSpace /DeviceRGB <<
endstream [19][20] In 2011, the company was awarded with the Fray International Sustainability Award for developing breakthrough technologies for recycling lithium-ion batteries, and establishing significant environmental protection initiatives.[21]. /Subtype /Image ( | Source: This article is largely based upon an IMD case study on Umicore (2016, IMD-7-1708) by Jan van der Kaaij, managing partner Finch & Beak, under the supervision of Dr. Benoit Leleux, Stephan Schmidheiny Professor of Entrepreneurship and Finance at IMD, Lausanne. /BitsPerComponent 8 /Height 3754 The case does not represent the official views or position of Umicore or its management. In a more pro-active and open manner, Umicore applied corporate communications to display its good practices. Sustainalytics ESG Risk Ratings are typically updated once per year. ,!6@# 1 [9] As a reflection of its enforced departure from the Katanga Province, the new, simplified name Union Minire was adopted. We provide comprehensive, unconflicted research-only (no execution, no corporate finance) coverage of c. 462 European mid and large cap stocks. /ampersand /quotesingle /parenleft /parenright 43 /plus /comma /hyphen The ESG Risk Ratings measure a company's exposure to industry-specific material ESG risks and how well a company is managing those risks. With a heritage dating back to 1805, Umicore underwent a remarkable transformation over the last two decades. /Filter /DCTDecode /Flags 4 Sorry, preview is currently unavailable. This partnership will further diversify our customer base and will support VW in their ambitious electrification strategy. Our exposure score takes into consideration subindustry and company-specific factors such as its business model. [26] Production is headquartered at Umicore's precious metals facility in Hoboken near Antwerp, with other plants in Germany and the United States. Umicore - the materials technology and recycling group has published its 2016 Annual report. March 25, 2022 09:00 ET ]c\RbKSTQ C''Q6.6QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ " 500 500 500 500 519 519 519 500 519 500 185 500 500 500 500 500 500 556 ] This also included the companys commitment to the UN Declaration of Human Rights and the International Labour Organizations core labor standards. At 9 February 2011, five institutions had declared holdings of 3% or greater in Umicore: the company itself in treasury stock (6.19%), Fidelity International (6.75%), BlackRock (8.33%), Ameriprise Financial (3.00%) and Fidelity Management and Research (3.22%). %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz 889 611 278 241 241 500 600 278 370 278 333 556 556 556 556 556 556 556 556 The company provides automotive emission systems for light and heavy-duty vehicles and transforms pollutants into harmless gases. )((EPESQE QE%Q@QL(( (`QE This documentary-style series follows investigative journalists as they uncover the truth, Trump Cant Be Blamed by Militia Group at Jan. 6 Trial, US Says, Markets Face Downside After July Jump: Bridgewaters Patterson, China Probes Government, Bosses as Chip Race With US Heats Up, Permira Is in Lead to Buy Reorg Research From Warburg Pincus, Alibaba Added to SEC List of Chinese Firms Facing Delisting, US, South Korea Vow to Expand Drills After Kim Jong Uns Threat, House Passes Assault Weapons Ban, Faces Little Chance in Senate, Asia Has New Richest Woman as Property Crisis Reshapes Fortunes, Calstrs Posts 1.3% Loss for Latest Fiscal Year After Market Rout, Review: Beyonc Escapes to Dance World in "Renaissance", Neil Patrick Harris Is Suddenly Single in Comedy 'Uncoupled', Chips Act Skips US Leaders for Asian Winners, The FourMysteries of Pelosis Troublesome Taiwan Trip, Manufacturers That Sell to Consumers Feel the Pinch, The Indian Governments Fight Against Fake NewsTargets Political Dissent, Jazzercise Is Alive and Kicking Decades After It Got Started, US Banks Passed the Latest Stress Test, But Are Still Unhappy, UAW Head Says Battery-Worker Pay Must Match Assembly Wages, Teen Has Raised $1.5 Million for Abortion Funds in the Week Since Matt Gaetz Mocked Her, Over Half of Britons Were Net Welfare Recipients During Pandemic, House Approves Bill to Help West Fight Wildfires, Drought, Southwest Rains Flood Deserts, Cascade Into Vegas Casinos. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 3 e1Ja}&Ia8a xi6x#[zV6~xM} _5y#gi;Zlk`Xk5$3:'h0[!,>> /Type /Encoding Umicore today published its 2021 Integrated Annual Report. ( (`QE QE1 EPES ( )QE QE QIE1Q@QL(J)QE QE( ( (`QE RQLbE QE0 /period /slash /zero /one /two /three /four /five /six /seven /eight /nine ( One great example is Umicore;a company that emerged from the mining industry and found a way to stay ahead of the curve by taking the strategic challenges that the sector is facing head on. /Type /Font GROUNDING THE BLUE OCEAN STRATEGY ON TECHNOLOGICAL INNOVATIONS AND NETWORK EXTERNALITIES, Exploration of qualitative success factors of innovative e-business startups: blue ocean strategy versus dynamic capabilities, TRANSFORMING THE NATURE AND SCOPE OF STRATEGY FORMULATION: A LONGITUDINAL STUDY MEASURING THE EFFECTS INDUSTRY CLOCKSPEED BENCHMARKING HAS ON BLUE OCEAN STRATEGY, Reviewing the Blue Ocean Strategy Is the Blue Ocean Strategy valid and reliable, THE SCARCITY OF NATURAL RESOURCES AND ITS ORGANIZATIONAL IMPLICATIONS: A REVIEW AND CONCEPTUAL FRAMEWORK, Design Driven Innovation as a Differentiation Strategy -in the Context of Automotive Industry, Circular Economy: The Beauty of Circularity in Value Chain, Creating Firm, Customer, and Societal Value: Toward a Theory of Positive Marketing, Integrating The Business Model Puzzle: A Systematic Literature Review, [Fons Trompenaars, Piet Hein Coebergh] 100+ Manage(z-lib.org) (1), Working Paper Systemic Context Variation v 2.0 (04/2014), Da Vinci 3.0. xXy\WaQaNE (9"r)"c@99$A 1K\4cttQ`(w|6o^7UQNL&>!a/JYqcc ;\T;HL!3n-qp&o&(%e12PR??p^yQ9!CHhcg (Q@Q@ EPEP0`QE Each business group is divided into market-focused business units offering materials and solutions that are at the cutting edge of new technological developments and essential to everyday life. 500 500 500 500 800 500 400 500 500 500 500 500 500 500 500 500 500 500 500 /Height 86 These insights can be used to identify areas of ESG improvement to help inform future management decisions that align with your organization's sustainability goals. Our approach is based on analytical items contributing to the E, the S and the G, that can be highlighted as sustainability precursors and can be combined in an intellectually acceptable way. 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 Umicore N.V.. formerly Union Minire, is a multinational materials technology company headquartered in Brussels, Belgium. 128 /bullet /dagger 131 /ellipsis 133 /endash 141 /quotedblleft The amazing business transformation of materials company Umicore. As a formal commitment to employees and other stakeholders, Umicore signed a Global Framework Agreement in collaboration with workers union and federations, covering an array of issues such as human rights, working conditions and environment. NYC Wants In-Person Dining Back. ( Management refers to how well a company is managing its relevant ESG issues. Multidisciplinary advisor in ESG benchmarking, sustainabilitystrategy development and execution. Usage as a benchmark is not permitted. However, scoring and qualitative assessments can be updated more frequently due to events assessment changes and corporate governance assessment changes, which are updated according to more frequent and different update cycles. /Rotate 360 15 0 obj Leverage Sustainalytics' ESG Risk Ratings to understand and promote your corporate ESG performance with internal and external stakeholders. In 1989 however, Socit Gnrale announced plans to merge Union Minire with three other Belgian metals companies in which it held a significant stake: zinc producer Vieille Montagne (with a history stretching back to 1805); Metallurgie Hoboken-Overpelt[nl], which dealt in a wide range of metals including copper, cobalt, and lead; and Mechim, an engineering firm. 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. /FontBBox [ -166 -214 1050 967 ] endobj Understand how exposed companies are to specific material ESG issues and how well companies are managing these issues. $4%&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz ? /ccedilla /egrave /eacute 235 /edieresis 237 /iacute 244 /ocircumflex ] 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. Privacy Notice| Finch & Beak 2022. /Width 245 /SM 0.02 ]c\RbKSTQ C''Q6.6QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ V " The Recycling segment, based in Hanau, Germany, also encompasses a management unit, which sells precious metals in ingot form to industrial clients and offers access to related financial instruments for hedging purposes. ( EU Sustainable Finance Action Plan Solutions, Morningstar Sustainability Rating for Funds, Learn more about our Peer Performance Insights solution, Connect with us about an ESG Risk Rating License, Download our product brochure to learn about our product solutions. %&'()*456789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz +(AES (b [9] With its more European focus, Union Minire began to grow its business again through the 1980s, initially largely organically. The company divides its operations into four divisions: Energy Materials, Recycling, Catalysis, and Performance Materials.