Performance is measured and assessed regularly, and the extent of progress affects Short Term Incentive Plans for both leaders and employees.

Solvay One Planet extra financial results

Since 2019, Solvay has embarked on a sustainability journey that is captured in the Solvay One Planet roadmap, which is an integral element of its G.R.O.W. strategy and company Purpose. Structured around the three major categories of climate, resources and better life, Solvay One Planet is a roadmap towards a sustainable future that
provides shared value for all.

Solvay made significant progress on this journey in 2022, accelerating efforts to meet stakeholders’ growing expectations. The table below provides an update on Solvay’s progress.

2022 progress update

Overall progress on extra financial targets

Target

2022

2021

Comment

Progress 
versus 2018

2030
targets

Align greenhouse gas
emissions (scope 1&2)

with Paris Agreement (Mt)
10.3
-6.4%
(-4% structural)

11Mt

Progress at 2x Paris
Agreement
-19%
(-15% structural)

Reduce by 30% (-2.5%/yr)

Phase out coal solid fuels (a)
(Petajoules)
28

27

4 plants exiting coal -15%

Achieve 100%

Biodiversity
(year on year)
-5%

-13%

Global Biodiversity score
improved
-28%

Reduce by 30% 

Sustainable solutions
% of Group sales
55% 50% (b) Acceleration driven by
growth in Materials and
Solutions
+5%

Achieve 65%

Circular economy
% of Group sales
9% 8% (c) Progress rapidly
approaching 2030 target

n.a

More than double

Non-recoverable industrial
waste
(Kt)
56

58 kt

Exceeded 2030 target -36%

Reduce by 30% 

Freshwater Intake (Mm³) 330 315 (d) change in methodology -

Reduce by 25% 

Safety (Reportable Injury and
Illness rate - RIIR) (e)
0.34

0.43

Reinforcing safety
measures at all sites

-16%

Aim for zero

Diversity (% of women in
middle/senior management) (f)
26.5%

25%

Increasing trend toward
parity goals
2.8pp

Achieve 50% by 2035

Equity     Publication of gender pay gap in April 2022 and corrective measures in place for 951 people    
Inclusion     High participation in the inaugural Global Employee Share Program    

(a) Solid fuels: coal and petcoke used in energy production. Coke and anthracite used in the soda ash production process are not included.
(b) Effective 2022, the internal CO2 price was increased from €75 to €100 per metric ton CO2 eq. As a consequence, the level for 2021 has
been restated to 50% (from 53%).
(c) 2021 figure has been restated including the new circularity KPI used in 2022. It comprises products either: based on recycled or renewable
materials, produced with renewable energy, with increasing longevity in the use phase or enabling recycling at the end of life.
(d)The apparent increase of freshwater withdrawal in 2022 is mainly due to a stricter application of internal reporting rules for freshwater
pumped by Solvay but sold to third parties. From the 330 million cubic meters for 2022, 30 (9%) is sold to third parties. The total freshwater
withdrawal in 2022 is slightly lower than in 2021 (-1.7 million cubic meters or -0.5%) at constant scope and methodology.
(e) The definition of the indicator changed in 2020: RIIR replaced MTAR - RIIR: (Reportable Injury & Illness rate): number of reportable injury
or illness per 200,000 work hours. Scope: Employees and contractors.
(f) Management categories are defined on the basis of the Hay Job Evaluation Methodology. Middle and senior management levels refer to the
entire active internal workforce having Hay points above 530.

Progress on protecting Climate

Target

2022

2021

Comment

Progress 
versus 2018

2030
targets

Align greenhouse gas
emissions (scope 1&2)

with Paris Agreement (Mt)
10.3
-6.4%
(-4% structural)

11Mt

Progress at 2x Paris
Agreement
-19%
(-15% structural)

Reduce by 30% (-2.5%/yr)

Phase out coal solid fuels(a)
(Petajoules)
28

27

4 plants exiting coal -15%

Achieve 100%

Biodiversity
(year on year)
-5%

-13%

Global Biodiversity score
improved
-28%

Reduce by 30% 

(a) Solid fuels: coal and petcoke used in energy production. Coke and anthracite used in the soda ash production process are not included.

Climate 

In October 2021, Solvay announced its plans to reach carbon neutrality on scope 1 and 2 emissions before 2040
for all businesses except Soda Ash & Derivatives and before 2050 for Soda Ash & Derivatives. Consequently, the
2030 target for greenhouse gas emissions was upgraded to reduce by -30%, as compared to the 2018 baseline. In
2022, Solvay delivered a -19% GHG emissions reduction in four years, of which -15% structural, meaning almost
2x the Paris Agreement.

As part of its transition to cleaner energy sources, Solvay has also identified 23 additional new emission reduction
projects which brings the total number of approved projects worldwide to 59. It will represent -3.5 million tonnes
of CO2 annually (equivalent to taking 1.9 million cars off the road).

In response to the gas crisis, Solvay temporarily adjusted its energy-sourcing strategy. This is reflected in the coal
phase-out performance. The phase-out of coal for energy production has been planned for three soda ash plants in
Europe: Rheinberg, Germany; Dombasle, France and Devnya, Bulgaria. With the additional phase-out project in
the Green River site, US, the Group will cut its global emissions by 9.5% by 2025.

Renewable electricity projects are also advancing. In the US, six businesses and 34 plants are fully supplied by
green power, twice as many as in 2021. In China, 100% of operations are now supplied with renewable electricity.
In Europe, progress continues with significant projects confirmed to switch plants in Voikka (Finland), Saint Fons
and Tavaux (France) to green electricity.

Solvay has decreased its global pressure on biodiversity by -28% versus 2018. The overall trend is aligned with
2030 targets, with part of this progress related to refinements in the methodology and new local projects
implemented. Strong efforts have been implemented to design biodiversity roadmaps in order to reduce damage
on nature and start regenerating Biodiversity. A list of top 32 sensitive sites has been established, guidelines are
being defined with the WildLife Habitat Council, and first roadmaps being created.

Progress on preserving Resources

Target

2022

2021

Comment

Progress 
versus 2018

2030
targets

Sustainable solutions
% of Group sales
55% 50% (b) Acceleration driven by
growth in Materials and
Solutions
+5%

Achieve 65%

Circular economy
% of Group sales
9% 8% (c) Progress rapidly
approaching 2030 target

n.a

More than double

Non-recoverable industrial
waste
(Kt)
56

58 kt

Exceeded 2030 target -36%

Reduce by 30% 

Freshwater Intake (Mm³) 330 315 (d) change in methodology -

Reduce by 25% 

(b) Effective 2022, the internal CO2 price was increased from €75 to €100 per metric ton CO2 eq. As a consequence, the level for 2021 has
been restated to 50% (from 53%).
(c) 2021 figure has been restated including the new circularity KPI used in 2022. It comprises products either: based on recycled or renewable
materials, produced with renewable energy, with increasing longevity in the use phase or enabling recycling at the end of life.
(d)The apparent increase of freshwater withdrawal in 2022 is mainly due to a stricter application of internal reporting rules for freshwater
pumped by Solvay but sold to third parties. From the 330 million cubic meters for 2022, 30 (9%) is sold to third parties. The total freshwater
withdrawal in 2022 is slightly lower than in 2021 (-1.7 million cubic meters or -0.5%) at constant scope and methodology.

Resources  

In 2022, the proportion of sales from sustainable solutions reached 55%, a 5% annual increase. It reflects the
organic growth in the automotive and battery market with Specialty Polymers and Silica, in the agro market with
Novecare, in air and water treatments with Peroxides and Soda Ash & Derivatives.

The group made significant progress in circularity with a 9.3% of its sales of circular products. This result is
getting closer to the 2030 target, with part of this progress related to methodology improvement. Solvay is
already a market leader in some bio-polymers like guar, bio-sourced solvents and natural vanillin. Solvay is also
investing in a powerful Rare Earths hub in La Rochelle, France to play a proactive role in the recycling of magnets.
The collaboration between the Materials business and the French startup Carbios on the enzymatic recycling of
polymers is another example. Finally, the new Solvay growth platform on Renewable Materials and Biotechnology
will facilitate the development of safer chemicals, foster more environmentally-friendly solutions and enhance
circularity.

Innovation to develop more sustainable solutions is a continuous process for Solvay teams partnering with
customers to develop tailor-mode solutions. In 2022 Solvay opened a new Application development center in
Alpharetta, Georgia, in the US. The Group is also investing in the upgrade of the 160 year-old soda ash
manufacturing process to reduce the CO2 emissions by 50%, while reducing resource consumption and eliminating
limestone residues. A pilot is being implemented at the Dombasle, France site.

In 2022, the apparent increase of freshwater withdrawal in 2022 is mainly due to a stricter application of internal
reporting rules for freshwater pumped by Solvay but sold to third parties. Solvay launched various water
management initiatives to address water scarcity like the creation of a dashboard that monitors around 90% of
the Group’s daily freshwater intake. Solvay also conducted a review of water risks. Seven sites have designed
roadmaps to improve their resilience, with the potential to achieve 30 million cubic meters in water intake
reduction.

In 2022, Solvay exceeded its 2030 target with a -36% reduction of its non-recoverable industrial waste.
Valorization, recycling and use in waste-to-energy programs are the key levers to reach the zero waste to landfill
target. For example, the calcium fluoride (CaF2)-rich sludge produced at the Panoli site (India) is now reused as
an additive in a cement plant instead of going to landfill. Another example is in the Augusta US site, where the
volume of the waste polymer stream has decreased by 76% compared to 2021. Finally, the Collonges site (France)
is valorizing the discarded silica by providing to customers a new range of products for other uses.

Progress on fostering a Better life

Target

2022

2021

Comment

Progress 
versus 2018

2030
targets

Safety (Reportable Injury and
Illness rate - RIIR) (e)
0.34

0.43

Reinforcing safety
measures at all sites

-16%

Aim for zero

Diversity (% of women in
middle/senior management) (f)
26.5%

25%

Increasing trend toward
parity goals
2.8pp

Achieve 50% by 2035

Equity     Publication of gender pay gap in April 2022 and corrective measures in place for 951 people    
Inclusion     High participation in the inaugural Global Employee Share Program    

(e) The definition of the indicator changed in 2020: RIIR replaced MTAR - RIIR: (Reportable Injury & Illness rate): number of reportable injury
or illness per 200,000 work hours. Scope: Employees and contractors.
(f) Management categories are defined on the basis of the Hay Job Evaluation Methodology. Middle and senior management levels refer to the
entire active internal workforce having Hay points above 530.

Solvay actions to foster a better life

In 2022, the number of injuries has decreased to 0.34 (versus 0.43 in 2021), despite higher production levels.
Despite all efforts, a dramatic accident occurred. The Group triggered a strong action plan to raise the bar to reach
the zero accident target.

Regarding Diversity, Equity and Inclusion (DEI), major milestones have been achieved this year. The Group took
concrete actions to improve pay equity, created the “homogeneity index”, achieved parity at the senior
management level (SLC) and included the DEI roadmap within the 15% One Planet part of the Short Term
Incentive.

Solvay also has nine Employee Resource Groups (ERG), which are grassroots groups led and run by employees
that encourage employees to recognize and celebrate diversity, which is a critical component to guide the DEI
journey. The different ERGs have suggested a DEI pledge that has been signed by the entire Senior Leadership
Team.

In 2022, more than 100 sites, reaching more than 40% of Solvay’s global workforce, devoted time to improving
their awareness of Diversity Equity and Inclusion (DEI) as part of Solvay’s One Dignity initiative. Their participation
was converted into a €50,000 donation, which will be spent with local charities promoting DEI in the 14 countries
that had the most participation.

The Group provided support for its employees with €9.5 million to be distributed among the people most affected
by inflation. Solvay launched its first employee share plan in 2022, achieving an impressive participation rate of
27.7%, which is ahead of the benchmark for similar initiatives. And finally, Solvay increased its Global Performance
Sharing (GPS) Plan budget to €15 million, for the “non-executive” employees.

In 2022, the Group renewed its Solvay Global Forum and Global Framework agreements with IndustriAll Global
Union, the global union for the chemicals industry.

Incorporating ESG and sustainability factors into our long-term strategy

In addition to improving sustainability in our portfolio, operations and workplace, we take into consideration our impact on the entire value chain, from sourcing to customers and recycling. Through our new sustainability plan Solvay One Planet, we further focus on 10 measurable commitments where we have the biggest positive impact, directly and indirectly, in line with the ambition and requirements of the UN Sustainable development goals (SDGs).

That’s how we are going to enhance our positive impact on some of the most pressing planetary issues and pave the way for a circular economy.