This excerpt taken from the ICI 6-K filed Mar 21, 2007.
Sustainability Challenge 2010 programme, ICI aims to meet the expectations of customers, consumers and other stakeholders in a sustainable way that is responsible, enhances quality of life and makes money. Summary information about Sustainability is set out on page 8. More detail on ICI strategies for Technology and Sustainability can be found in the ICI Annual Report 2007 and on the corporate website: www.ici.com
This excerpt taken from the ICI 6-K filed Mar 14, 2006.
ICI operates according to the triple bottom line of sustainability: economic, social and environmental. A Group Sustainability Policy was adopted in 2002, and the sustainability strategy is an integral part of the Groups business strategy, setting out specific indicators of progress across key activities in all three areas. Since 1990, ICI has set out five-year Challenge programmes with objectives to deliver continuous improvement in these activities. Results for each objective are reported in full every year on ICIs corporate website (www.ici.com/sustainability).
An Executive Director is responsible at ICI Board level for ICIs sustainability activities. A sustainability board was established in 2004. It is made up of senior and middle managers from across the Group who oversee the Groups sustainability programmes and is chaired by the Group Vice President, Sustainability.
The Group has an internal recognition programme for sustainability excellence. ICIs Chief Executive gives an award each year to the top performing team or site in five categories: Safety, Health, Environment, Product Stewardship and Community involvement. ICIs Chairman chooses one of these winners to receive ICIs top sustainability award each year.
Regulation, safety, security, health and the environment
ICIs businesses also voluntarily conform to many international and national codes of best practice.
ICI attaches great importance to safety and health, to reducing any adverse environmental impact of its activities year-on-year and to developing products and services with improved environmental features.
The main process by which the Group manages SSHE issues and seeks to meet its objectives is the Responsible Care Management System (RCMS). This sets out standards along with guidelines, training, auditing and procedures for reviewing and reporting performance, all of which are essential to continuous improvement.
The system covers operations on site as well as security, product stewardship and community relations. During 2005, Lloyds Register Quality Assurance Limited independently verified that RCMS complies with the American Chemistry Councils new Responsible Care Management System (2004) and Security Code of Management Practices (2002) as well as the UK Responsible Care Codes, the certifiable international standards for environmental and occupational health and safety management systems, ISO 14001 and OHSAS18001, and the ICC (International Chamber of Commerce) Business Charter for Sustainable Development.
ICI works to manage and minimise the risks associated with the soil and groundwater on its sites and has developed further procedures to enable the ranking of priorities for management attention. ICI is engaged in research aimed at developing and implementing more cost effective environmental remediation technologies, some of which is being undertaken in collaboration with other companies and academic institutes.
The raw materials which the Groups businesses use and the products that they produce are subject to demanding regulations concerning product safety in all parts of the world. These regulations, which also cover product testing and risk assessment requirements, are subject to review and revision, as is currently happening in Europe with the proposed REACH (Registration, Evaluation and Authorisation of Chemicals) regulations. The Group is assessing the potential impact of these proposals on its businesses and planning to ensure compliance when the new European Union regulations come into force.
In addition, there is constant pressure from legislators, customers and the general public to reduce the environmental and health impacts of products throughout their life cycle. To meet these requirements, ICI has a product stewardship programme in place within each business. This voluntary programme embraces, through robust business practices, product regulatory requirements, societal pressures, reducing the risk of harm to people and the environment, and the provision of relevant information to enable correct use and disposal of products.
Anticipating external pressures and concerns and providing speedy, innovative solutions with lower environmental and societal impact is becoming a key aspect of sustaining competitive advantage. ICI recognises these pressures and is responding with the introduction of new processes, products and services that improve the efficiency of use of raw materials and utilities and reduce adverse effects.
Processes are in place for regular reviews of environmental liabilities, and provisions held at 31 December 2005 were in accordance with the accounting policy described in the Group accounts on page 57. ICI believes that, within the existing legislative framework and taking account of the provisions already established, the cost of addressing currently identified environmental obligations (as ICI currently views these obligations) is unlikely to have a material adverse effect on its financial position or results of operations.
During 2005 there were nine instances of breaches of environmental or product regulations which resulted in prosecutions or fines totalling £0.1m. Each was investigated and appropriate action taken.
Sustainability developments in 2005
During 2005 the Board approved new five-year Sustainability Challenge objectives through to 2010. This is the fourth of ICIs Challenge programmes, which date back to 1990. These objectives were defined in collaboration with representatives of all ICI businesses and functions, as well as with external stakeholders. Further improvement goals were set for existing activities, and the focus of sustainability objectives for 2010 was broadened to include additional social elements, product innovation, and integrity and compliance milestones. The Sustainability Challenge 2010 programme objectives are also available on ICIs corporate website.