The relationships we build with customers, suppliers, investors, employees and the communities that live and work close to our plants is important to us. By engaging with our various stakeholder groups, we can respond quickly to the constant changes in market demands, product requirements and regulation.

Our Stakeholders

At Innospec we have a diverse range of stakeholders that we need to engage with in many different ways. This open and on-going engagement with key stakeholders is an essential element in our continued success. It enables us to understand and take into account their varied perspectives, ensuring that our strategy and focus areas continue to be relevant, reflecting the needs of both our internal and external stakeholders.

Stakeholder Group Method of Engagament

Customers
Identifying customers’ current and future needs helps us to understand where we can add value.

  • Materiality assessments.
  • New corporate website launched.
  • Virtual meetings.
  • Webinars.
  • Regular online communication to help plan product demand.
  • Collaborating on sustainability programs including Roundtable on Sustainable Palm Oil. (RSPO), Action for Sustainable Derivatives (ASD) initiative, CDP and EcoVadis.
  • Technical support services.
  • Questionnaires.

Investors
Providing clear, transparent information to our investors demonstrates that we are managing a profitable and responsible business.

  • Materiality exercises.
  • Regular virtual investor conferences.
  • Virtual meetings with existing and potential new investors.
  • Proxy Statement.
  • Regular reporting.
  • Dedicated investor section on our new corporate website.

Employees
Engaging regularly with our employees provides an opportunity for us to listen and provide feedback on their individual needs and take onboard their views when determining the direction of the business. Communications with employees was particularly important in 2020 as we sought to reassure them about the pandemic and how we were responding as an organization.

  • Materiality assessments.
  • Ethics and compliance hotline
  • CEO/CFO conference calls.
  • Direct communications via email and virtual team meetings.
  • Annual appraisals conducted via video link.
  • Safety, Health and Environment (SHE) Best Practice Group.
  • Resource Reduction Group.
  • Sustainable Development Network.
  • Intranet.
  • Online training courses.
  • Local Communicator Network.

Governance & Regulatory
Proactively engaging and consulting with our regulators enables us to understand and prepare well in advance of any changes that have the potential to impact our business and operations.

  • Materiality assessments.
  • Online participation in webinars, policy forums and advisory groups.
  • Trade associations including CIA (Chemicals Industry Association), American Chemistry Council (ACC) and European Chemical Industry Council (CEFIC).

Supply Chain Partners
Working closely with our supply chain partners enables us to ensure that supply chain risk is managed effectively and allows us to identify opportunities to improve the sustainability and economic efficiency of our products and services.

  • Materiality assessments.
  • Supplier evaluation processes.
  • Virtual meetings on procurement and contract management.
  • Supplier site audits.
  • EcoVadis assessment.

Community Members
Engaging with our local communities where we operate is essential to maintaining our reputation as a safe and responsible neighbor. It has a positive effect on community and employee relations. The pandemic impacted our ability to provide our normal number of work placements, graduate programs and internships. It also prevented us from hosting site open days and delivering lectures to local schools and colleges.

  • Local employment opportunities.
  • Virtual participation in local forums.
  • Safety action notices.
  • Innospec Cares Program
  • Business donations and sponsorship activities.

Non-Government Organizations (NGOs), Sustainability Organizations and Advisors
Collaborating with a range of NGOs helps us to understand both the immediate and wider sustainability issues affecting our products and the markets in which we operate.

  • Membership of business and industry associations including RSPO, ASD and Trade Association Sustainability Networks.
  • Participation in CDP Climate and Water assessments.
  • Chairing of industry focus groups with meetings held online.
Materiality Overview

Identifying our stakeholders’ priorities and the issues that matter the most to them helps us to understand their expectations and guides our actions and our reporting process. We completed our materiality assessment in 2017 and identified 17 issues that matter most to our stakeholders. We continue to use these issues to direct our approach and will undertake another assessment in 2020.

Click here to view our materiality table

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