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. This builds on our reputation and helps us to continue to grow.

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

  • 2017 Materiality exercise
  • Quarterly briefings
  • Proxy Statement
  • Regular Reporting
  • Dedicated investor section on the website
  • Direct and regular investor updates

Employees
Engaging regularly with our employees provides an opportunity for us to listen and provide feedback on their individual needs and take on board their views when determining the direction of the business.

  • 2017 Materiality exercise
  • Ethics and compliance hotline
  • Direct communications (email, CEO Question and Answer sessions and team meetings)
  • Annual appraisals
  • Safety, Health and Environment (SHE) Best Practice Group
  • Energy Reduction Group
  • Sustainable Development Network
  • Intranet
  • Training and development
  • 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.

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

  • 2017 Materiality exercise
  • Supplier evaluation process
  • Procurement and contract management processes
  • Supplier site audits
  • EcoVadis

Community Members
Engaging with our local communities where we operate is essential in maintaining our reputation as a safe and responsible neighbor and has a positive effect on the community and employee motivation.

  • Local employment opportunities
  • Work placements
  • Graduate programs
  • Lectures and demonstrations at local education providers
  • Community liaison meetings
  • Manufacturing site open days
  • Participation in local forums
  • Safety action notices
  • Innospec Cares Program
  • Additional 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, Action for Sustainable Derivatives and Trade Association Sustainability Networks
  • Participation in CDP Climate and Water assessments
  • Chairing of industry focus groups
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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