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Solvay makes comeback into the Dow Jones Sustainability Index

September 13/2017

MOSCOW (MRC) --Solvay has rejoined the World Dow Jones Sustainability Index (DJSI World), underlining the Groups commitment to improve its performance in sustainable development as part of its business strategy, as per the company's press release.

"Solvay is very proud of this achievement which for us acknowledges how we have successfully integrated sustainability in the way we do business. Sustainability is part of Solvays overall performance as captured in the five quantified sustainability objectiveswe set two years ago to steer and monitor our progress. Todays good news stimulates us to improve further," said Pascal Chalvon-Demersay, Chief Sustainability Officer at Solvay.

The DJSI World, the first global index to track the leading sustainability-driven companies, is a key reference for corporate sustainability.Solvay was in particular rewarded for the robustness of both its materiality analysis and its Sustainable Portfolio Managementmethodology which measures the impact of the Groups business decisions.

As MRC wrote previously, in late December 2016, Solvay completed the sale of its 70.59% stake in Solvay Indupa to Brazilian chemical group Unipar Carbocloro, following the approval earlier this month of the Brazilian antitrust authority CADE.

Besides, earlier, in July 2016, Solvay completed the divestment of its shareholding in Inovyn (London), bringing to an end Solvay's chlorvinyls joint venture with Ineos. Solvay received exit cash proceeds amounting to EUR335 million (USD370.7 million). The dissolution of the jv follows regulatory clearances from the relevant authorities. Inovyn was formed on 1 July 2015 as a jv between Ineos and SolVin, a subsidiary of Solvay. Solvay and Ineos signaled their decision to end their chlorvinyls jv in March last year.

Solvay, with a market share 27%, is the second largest PVC manufacturer in Europe, after Kerling with 29% of the market. Solvay is headquartered in Brussels with about 30,900 employees spread across 53 countries. It generated pro forma net sales of EUR12.4 bn in 2015, with 90% made from activities where it ranks among the worlds top 3 players.
Author:Margaret Volkova
Tags:PVC, vinilhlorid, kausticheskaya soda, SPVC, Inovyn, Solvay, Solvin.
Category:General News
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