IVL carried out a materiality assessment in accordance with the GRI Standards, together with our business strategy, and environmental and social priorities to identify and prioritize primary sustainability material topics that could impact the Company and external stakeholders. This helps us to develop risk mitigating actions and explore remedial opportunities.

By combining the significant topics that may affect us and our stakeholders, we are able to identify materiality topics. As part of the materiality assessment, we have conducted a survey covering both external stakeholders (suppliers, customers, investors, media, analysts and bankers) and internal stakeholders (across all operations, businesses, and key functions). Details of the materiality assessment are provided in the Materiality Assessment chapter in this report.

Materiality Assessment Process at IVL
We also created a materiality matrix with key material topics, which were assessed by business leaders, plant heads, the Sustainability Steering Committee and people from various functions across the organization and our external stakeholders. Based on this assessment, senior management agreed on the material topics for our business going forward. We reviewed the GRI topics and where relevant, assigned indicators.
Materiality Matrix

Materiality Matrix 2020

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Materiality Assessment Summary 2020
Materiality Assessment Summary 2020
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Key Material Topics

The materiality assessment sets out the thirteen key material topics for 2020 and the content of this report. We used key elements of the GRI Standards to identify and prioritize the topics that matter most to the business and stakeholders.

IVL Material Topics Corresponding GRI Topics Key Stakeholders Impacted and Boundary Ongoing IVL Commitments and Targets (2019-2025)
Within the Organization Outside the Organization
Compliance Management
  • Ethics and Integrity
  • Management Approach
  • Anti-corruption
  • Anti-Competitive Behavior
  • Socioeconomic Compliance
  • Environmental Compliance
  • Manufacturing Operations (Subsidiaries, Joint Ventures including Joint Ventures with no managerial and operational control)
  • Managements
  • Employees
  • Business Partners
  • Contractors
  • Community
  • Regulators, Government
  • Zero non-compliance
  • Beyond all applicable environmental compliance
Business Ethics, Integrity and Transparency
  • Ethics and Integrity
  • Management Approach
  • Anti-corruption
  • Anti-Competitive Behavior
  • Human Rights Assessment
  • Public Policy
  • Child Labor
  • Manufacturing Operations (Subsidiaries, Joint Ventures including Joint Ventures with no managerial and operational control)
  • Managements
  • Employees
  • Business Partners
  • Contractors
  • Regulators, Government
  • Business conduct and ethics training and creating awareness to all employees
  • Zero corruption
  • Publicly reporting any material non-compliance
Risk and Crisis Management
  • Strategy
  • Ethics and Integrity
  • Governance
  • Management Approach
  • Economic Performance
  • Manufacturing Operations (Subsidiaries, Joint Ventures including Joint Ventures with no managerial and operational control)
  • Managements
  • Employees
  • Business Partners
  • Contractors
  • Community
  • Regulators, Government
  • Identification and continuous monitoring of emerging risks
Corporate Governance
  • Governance
  • Management Approach
  • Anti-corruption
  • Anti-Competitive Behavior
  • Manufacturing Operations (Subsidiaries, Joint Ventures including Joint Ventures with no managerial and operational control)
  • Managements
  • Employees
  • Business Partners
  • Regulators, Government
  • To be globally recognized for good corporate governance standards and practices
  • To embed an organizational culture of zero corruption, transparent business ethics and conduct, and compliance with laws and regulations
  • Zero corruption
  • Excellent (5 Stars) CG Rating from the Institute of Directors, Thailand
Customer Relationship Management
  • Economic Performance
  • Management Approach
  • Customer Health and Safety
  • Marketing and Labeling
  • Customer Privacy
  • Socioeconomic Compliance
  • Management
  • Sales and Marketing Personnel
  • Business Partners
  • Customer Satisfaction Index (CSI) and Customer Retention Rate (CRR) are better than or equal to the previous year
  • CSI target is greater than or equal to 86% for 2021.
Supply Chain Management
  • Supplier Environmental Assessment
  • Supplier Self- Assessment for Labor Practices
  • Supplier Human Rights Self-Assessment
  • Supplier Self-Assessment for Impacts on Society
  • Manufacturing Operations
  • Employees
  • Business Partners
  • Regulators, Government
  • 100% of new raw-material suppliers and critical non-raw material suppliers assessed
IVL Material Topics Corresponding GRI Topics Key Stakeholders Impacted and Boundary Ongoing IVL Commitments and Targets (2019-2025)
Within the Organization Outside the Organization
Environmental Management
  • Economic Performance
  • Management Approach
  • Materials
  • Energy
  • Water
  • Emissions
  • Effluent and Waste
  • Environmental Compliance
  • Supplier Environmental Assessment
  • Socioeconomic Compliance
  • All Managerial Control Operations
  • Manufacturing Operations
  • Employees
  • Business Partners
  • Contractors
  • Community
  • Regulators, Government
  • 5% reduction in energy intensity by 2025 from 2020 based year
  • 10% reduction in water intensity by 2025 from 2020 based year
  • 10% GHG Intensity Reduction (combined Scope 1 & Scope 2) by 2025 from 2020 based year
  • 90% waste diverted from landfill by 2025
Renewable Energy
  • Economic Performance
  • Management Approach
  • Energy
  • Emissions
  • Socioeconomic Compliance
  • All Managerial Control Operations
  • Manufacturing Operations
  • Community
  • Regulators, Government
  • 10% renewable electricity consumption by 2025
Climate Change
  • Economic Performance
  • Management Approach
  • Water
  • Emissions
  • Environmental Compliance
  • Supplier Environmental Assessment
  • Socioeconomic Compliance
  • All Managerial Control Operations
  • Manufacturing Operations
  • Employees
  • Business Partners
  • Contractors
  • Community
  • Regulators, Government
  • 10% GHG Intensity Reduction (combined Scope 1 & Scope 2) by 2025 from 2020 based year
  • To maintain the 5% of revenue from sustainable products by 2025
  • To embed carbon price into business decision
Plastic Waste and Recycling
  • Economic Performance
  • Organizational Profile
  • Management Approach
  • Materials
  • Emissions
  • Effluent and waste
  • Customer Health and Safety
  • All Managerial Control Operations
  • Manufacturing Operations
  • Employees
  • Business Partners
  • Contractors
  • Community
  • Regulators, Government
  • To recycle a minimum 750,000 tons of PET post-consumer materials as feedstock into our PET production by 2025
  • To invest 1.5 billion USD in recycling
  • Enhancing the Circular Economy
Product Stewardship
  • Customer Health and Safety
  • Emissions
  • Management Approach
  • Manufacturing Operations
  • Employees
  • Business Partners
  • Contractors
  • Regulators, Government
  • Product toxicity reduction
  • Sustainable Products Classification by 2020
IVL Material Topics Corresponding GRI Topics Key Stakeholders Impacted and Boundary Ongoing IVL Commitments and Targets (2019-2025)
Within the Organization Outside the Organization
Human Rights
  • Non-discrimination
  • Freedom of Association and Collective Bargaining
  • Human Rights Assessment
  • Child Labor
  • Forced or Compulsory Labor
  • Right of Indigenous Peoples
  • Supplier Environmental Assessment
  • Supplier Social Assessment
  • Security Practices
  • Ethics and Integrity
  • Management Approach
  • Employees
  • Business Partners
  • Contractors
  • Community
  • Compliance with the fundamental rights of the workforce, as per UN Guiding Principles and ILO standards
  • ZERO Human Rights violations
Human Capital Development
  • Organizational Profile
  • Management Approach
  • Employment
  • Training and Education
  • Managements
  • Employees
  • Business Partners
  • Contractors
  • Community
  • Unlocking internal leadership potential and developing leaders who can deliver and drive the organization towards its new vision
  • Building and shaping world-class talent systems and culture
  • Training hours is greater than or equal to 18.58 hours per employee for 2021

Occupational Health, Safety and Well-being

  • Organizational Profile
  • Management Approach
  • Ethics and Integrity
  • Security Practices
  • Occupational Health and Safety
  • Training and Education
  • Effluents and Waste
  • All Managerial Control Operations
  • Manufacturing Operations
  • Managements
  • Employees
  • Business Partners
  • Contractors
  • Community
  • Zero fatalities
  • LTIFR < 0.5 cases per 200,000 man-hours by 2025
  • Zero major spills of hazardous substances

Business Overview and Value Chain

Chain IVL is one of the world’s leading petrochemicals producers. In 2020, we have 123 operating sites in 33 countries. The company’s portfolio is comprised of 3 business segments: Combined PET Business, Integrated Oxides and Derivatives Business and Fibers Business