Processes that enhance sustainability efforts
Sustainability is an integral part of strategy development, innovation and business development processes at DSM. DSM’s initiatives in sustainability are helping the company to differentiate and drive value. Brighter Living Solutions currently account for 63% of DSM’s product portfolio. With sustainability being the heartbeat of the company, DSM continues to drive a higher proportion of its Brighter Living Solutions to its customers.
Audits and reporting
As sustainability is at the core of DSM’s strategy, the company reports on the progress of its sustainability targets in an integrated way with its financial targets. DSM bases its sustainability reporting in the Integrated Annual Report on the guidelines of the Global Reporting Initiative (GRI). This report has been prepared in accordance with the GRI Standards: Comprehensive option. DSM's reporting of its sustainability performance in its Integrated Annual Report is externally audited each year.
DSM’s Corporate Operational Audit department conducts regular sustainability audits as a part of the company’s Corporate Risk Management activities (including unannounced audits). Increasingly, these audits aren’t focused purely on DSM but also apply to various partners and suppliers in the value chain.
DSM commits to being transparent about its sustainability performance which means we also report ‘what still went wrong’ in People, Planet and Profit performance on an annual basis.
Taskforce on Climate-Related Financial Disclosures (TCFD)
In September 2017 during Climate Week NYC, the Climate Disclosure Standards Board (CDSB) announced that DSM was one of the first ten leading global companies that committed to implementing the recommendations of the Task Force on Climate-related Financial Disclosures. This means that within three years (by 2020) we will publicly report information about the financial implications (both risks and opportunities) that climate change has on DSM, thereby improving the availability of climate-related financial information to global markets.