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Chemicals group ICI has begun a major review of its corporate social responsibility programmes and policies.
The UK-based multinational, which has operations in 50 countries and a £5.6billion ($9.6bn) turnover, says the review involves a 'detailed evaluation of current and future priorities and stakeholder expectations'.
It will cover all business functions and should result in a strategy for the next five years.
Frank Rose, group vice president of sustainability, told EP: 'The purpose is to set out priorities and commitments for the period 2006 to 2010. We will be reporting externally on the process and content in our next sustainability report, which will be around the end of the first quarter of 2006.'
The review is being led by the company's cross-business sustainability board, set up in 2004. It is working with the think-tank Forum for the Future to test ideas on internal and external stakeholders and to gather views.
ICI says the review will take account of the restructuring of its business from a bulk chemicals producer on large industrial sites to a speciality products and paints business that operates on many smaller sites.
Most recent figures show ICI is ahead of its targets on reducing energy use, greenhouse gas emissions, ozone generation, chemical spills and water use, but behind on reducing releases of hazardous substances into the air and acid rain forming gases. Last year it carried out more than 300 assessments of key suppliers as part of a new 'product stewardship system'.
ICI first set five-year objectives for improving its sustainability performance in 1990.
The UK-based multinational, which has operations in 50 countries and a £5.6billion ($9.6bn) turnover, says the review involves a 'detailed evaluation of current and future priorities and stakeholder expectations'.
It will cover all business functions and should result in a strategy for the next five years.
Frank Rose, group vice president of sustainability, told EP: 'The purpose is to set out priorities and commitments for the period 2006 to 2010. We will be reporting externally on the process and content in our next sustainability report, which will be around the end of the first quarter of 2006.'
The review is being led by the company's cross-business sustainability board, set up in 2004. It is working with the think-tank Forum for the Future to test ideas on internal and external stakeholders and to gather views.
ICI says the review will take account of the restructuring of its business from a bulk chemicals producer on large industrial sites to a speciality products and paints business that operates on many smaller sites.
Most recent figures show ICI is ahead of its targets on reducing energy use, greenhouse gas emissions, ozone generation, chemical spills and water use, but behind on reducing releases of hazardous substances into the air and acid rain forming gases. Last year it carried out more than 300 assessments of key suppliers as part of a new 'product stewardship system'.
ICI first set five-year objectives for improving its sustainability performance in 1990.
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