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Amplifying Governance Sustainability Governance

In FY18, we further reinforced leadership, ownership and management of sustainability issues by creating new roles and revising our sustainability governance structure.

Reflecting the importance we place in people, culture and values, in FY18 we transferred responsibility for sustainability to our Chief Human Resources Officer, who is a member of the Executive Team reporting annually to the Board on our corporate sustainability strategy and performance. One member of the Board has specific oversight of the sustainability strategy and its program activities.

Following this change, we also created a new role, Vice President, Global Head of Sustainability, with a mandate to spearhead the development of a new sustainability strategy, oversee current and future activities and maintain Firmenich’s thought leadership in this area. The Global Head of Sustainability reports to the Chief Human Resources Officer. In support of the Global Head of Sustainability, we also created two further positions.

OUR GLOBAL SUSTAINABILITY EXCHANGE

A Sustainability Council was previously established to advise us on our sustainability strategy and activities. In light of the fast-paced environment the company operates in today, the Sustainability Council has evolved into an inclusive and dynamic network of partners and colleagues: the Global Sustainability Exchange. This is an important platform for exchanging expertise, experience and insights by connecting different functions and gathering communities of practice. The objective is to grow these activities into impactful projects that generate opportunities for Firmenich, its partners and society at large.

In May 2018, over 60 partners and champions convened in Geneva to look at end-to-end sustainability, from the source to the consumer. Participants joined panels and roundtables to discuss sustainability issues and solutions across three market segments: sustainable luxury, mass market and low-income consumers. In addition to getting concrete recommendations from partners on how Firmenich can improve its management of material issues such as responsible sourcing or diversity and inclusion, partners met with our CEO, Gilbert Ghostine and our sustainability champions to share their feedback and expectations. We will continue engaging with colleagues and partners to build on the insights from this event.

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