A strategic tool helps Solvay prioritise sales of the products that help solve societal needs
Solvay systematically assesses its products and the markets they serve against their contribution to sustainable development through the Sustainable Portfolio Management (SPM) tool.
All Solvay’s products are assessed according to two key aspects – their environmental manufacturing footprint and how their use in applications brings benefits to the society (e.g. reduced energy bills, reduced exposure to harmful substances, greater use of renewable energy etc.).
The company’s strategy is to grow its Sustainable Solutions portfolio, which consist of the products and markets that help Solvay’s customers solve social or environmental needs and at the same time reduce the share of products and applications that may pose sustainability concerns. Decisions on future investments and spending are also taken based on the Sustainable Portfolio Management assessment.
Solvay’s objective is to generate at least 50% of revenues with solutions addressing the challenges of sustainable development by 2025. In 2016 the sales of “Sustainable Solutions” reached 43%.