We ensure that our supply chain complies with legal, ethical and social requirements, while also finding opportunities for environmental improvement and economic efficiency.

We are committed to ensuring that all Third Parties we work with share our values and standards. We work closely to with our suppliers to encourage higher standards, for example through our work on Responsible Sourcing of Palm Oil (RSPO)

Supplier Code of Conduct

Innospec believes that honest and transparent business conduct is vital and is committed to ethical business practices and actively enforcing compliance with all applicable laws, regulations and rules.

Innospec’s supplier code of conduct (code) applies to all Innospec’s suppliers, service providers, and other contractors (suppliers). All suppliers are responsible for ensuring that their employees involved with Innospec business are familiar, and comply, with the Code.

Innospec Supplier Code of Conduct (English)

Innospec Supplier Code of Conduct (Chinese)

Innospec Supplier Code of Conduct (French)

Innospec Supplier Code of Conduct (German)

Innospec Supplier Code of Conduct (Italian)

Innospec Supplier Code of Conduct (Russian)

Innospec Supplier Code of Conduct (Spanish)

Third Party Due Diligence

All potential customers and suppliers are screened to ensure that they are not currently on any global sanctions or debarred lists. We also undertake due diligence on our agents, distributors and certain consultants that may include the collation of data via completion of questionnaires, risk screening and interviews.

The level of due diligence conducted depends on risk factors such as third-party type, territory and business division. We routinely put accounts on hold where there are any compliance related questions or concerns and only release them when the issues are resolved and will terminate contracts for compliance related reasons where necessary.

Third Parties compliance training

All medium and high risk Third Parties (agents, distributors and consultants) are required to complete our anti-corruption online compliance training. If training is not completed within the notified timeframe, we place the Third Party on hold, meaning that no sales orders can be processed. If training is still not undertaken within a reasonable extension period set by our Legal and Compliance Department, then the relationship is terminated.

Managing procurement responsibly

Ecovadis

We have used EcoVadis, a supplier sustainability evaluation rating platform, to assess our key global suppliers since 2016. The platform enables us to assess the relative risk of suppliers compared to their databases of over 65,000 global companies in over 160 countries. Our supplier evaluation process incorporates EcoVadis assessment scores into our purchasing and procurement systems and procedures and is a requirement for all raw material suppliers.

In addition, all potential customers and suppliers are also screened to ensure that they are not currently on any global sanctions or debarred lists. We also undertake due diligence on our agents, distributors and certain consultants that may include the collation of data via completion of questionnaires, risk screening and interviews. The level of due diligence conducted depends on risk factors such as third-party type, territory and business division.

In 2018, we introduced a new system that allows us to incorporate EcoVadis assessment scores into our supplier evaluation process. The process is now fully emended into our purchasing and procurements systems and is a requirement for all raw material suppliers.

In 2020, 180 suppliers were invited to complete an EcoVadis assessment, which covers 87% of our annual spending on raw materials. The results show that our suppliers are performing better than the EcoVadis benchmark across each of the four key areas of environment, labor and human rights, ethics and sustainable procurement. We recorded an impressive 78% response rate from the suppliers targeted, with an average score of 57.1, comparing favorably with the EcoVadis average of 42.9.

We are prioritizing our engagement with high-risk suppliers who scored lower on their EcoVadis assessments, so we can better understand why and use our experience to suggest corrective actions to be put in place. These actions can be generated and tracked using the EcoVadis online platform. Through this process of targeted additional support and guidance from Innospec, we were able to help one of our suppliers increase their score from partial to moderate and in doing so gained their first EcoVadis Silver medal.

Conflict Minerals

We are committed to the responsible sourcing of materials, which includes ensuring that conflict minerals are not ‘necessary to the functionality or production’ of our products, as defined under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Our most recent conflict minerals statement along with our supplier expectations can be found via the link below.

Click below for further information.

Conflict Minerals Statement

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