Partnerships will be crucial in driving responsible and sustainable growth over the next five years. We will focus on nurturing true partnerships with our key stakeholder groups.
Collaborating with key stakeholders to create shared success and a sustainable future
In a world of fast-paced change, we recognise the need for strong partnerships to help deliver innovative solutions for customers and responsible growth in the long term.
To deliver this shared success, we will partner with innovators, our people and suppliers, and with the communities in which we operate. We will strive to become the partner of choice, creating shared success for our Company and for these key stakeholders.
- We will continue our industry-leading investment in innovation, where we will increase our network of strategic partners and expand our natural, sensorial and cosmetic capabilities.
- We will invest significantly in our talent and foster a great place to work where our employees can impact their world and contribute to our success.
- In collaboration with our suppliers, we will further enhance our responsible sourcing while optimally managing our supply risk and cost so we can deliver the best palette of ingredients for our flavour, fragrance and active cosmetic ingredients creations.
- We embrace our responsibility to minimise our impact on the environment while strengthening the social and economic fabric of the communities in which we operate.
Our rich heritage of innovation has helped establish our market leadership and will drive the future of our business.
As the pace of change in our world quickens, we recognise the value of partnerships to support our ambition to be the innovation leader in the flavour and fragrance industry. We seek a more collaborative and inclusive approach to innovation so we can continue to deliver superior, sustainable solutions that exceed our customers’ expectations.
To deliver on this commitment, we will increase strategic innovation partnerships with external players such as academia, start-ups, technology providers and research institutions. We are excited about spreading a culture of innovation in ways that extend beyond our walls, and see the opportunity for partners to work in concert on a pipeline of projects that promote deeper and longer-standing cooperation.
We also plan to strengthen our own innovation capabilities, concentrating on areas with significant impact for customers. We will promote open innovation within our Company, encouraging ideas from employees in different areas across the business. The safety of people and the environment will be considered priority in the design of all new solutions. In managing our Science and Technology portfolio, we will prioritise high-potential projects, make focused investments and closely monitor research results.
Innovations in Flavours
In Flavours, we will create more organisation-wide innovation capabilities while ensuring a disciplined and focused use of our product and technology innovation resources. We will create a proactive and valued culture of collaborative innovation, and raise our profile as a seeker of innovation partnerships with a broad range of technology and solutions players in areas such as natural ingredients, health and wellness, integrated solutions and protein enablement.
Innovations in Fragrances
As well as leveraging the best palette of ingredients in the industry so our perfumers can create winning fragrances, our Fragrance Division will drive the development of the next generation of delivery systems to meet evolving consumer preferences in hair care, personal care and fabric care while keeping pace with changing regulations. Developing our active cosmetic ingredients portfolio will also be a key activity for our innovation teams.
Our more than 14,900 employees around the world have always been valued – and will always be valued. They bring passion and energy to their work every day.
We know that fostering a great place to work where our people impact their world and contribute to our success will be an important driver of our new strategy.
To remain competitive in the long term, it is important for us to have exceptional employees. To attract and retain talent while responding to the demands of a multi-generational workforce, we will promote a diverse workforce which operates in an agile and collaborative way.
By supporting their professional development, we will create an environment where our people can grow and shape their world and feel empowered to partner with their customers to deliver growth. This environment will be safe and healthy, and will encourage responsible practices at the workplace and beyond. As employees become increasingly concerned with the approaches that companies take to managing environmental and social issues, we will continue to engage new and existing employees in making a positive difference for our customers, their consumers, and our planet.
We recognise the value of strengthening relationships with our large network of suppliers as they are key partners for the sourcing of raw materials, the inputs to our creation.
We need strong partnerships in this area to ensure our business is profitable and, most importantly, can deliver the best possible palette of ingredients to our flavourists and perfumers to differentiate our products.
As the world’s natural resources become scarcer, we need to innovate with our suppliers to ensure the long-term availability of the most vulnerable raw materials we use in our creations. Our customers demand further transparency and responsibility within their supply chains, and we will continue working hand-in-hand with our suppliers to achieve this required visibility.
Over the next five years we will deepen our relationships with our suppliers to deliver differentiating sourcing models that generate a competitive advantage and enable us to lead the industry in responsible sourcing to best meet customer expectations.
We will rely more on our collaborations with suppliers to shape new and innovative products and technologies so we can continue to respond to the market with winning flavours, fragrances and active cosmetic ingredients.
As we strive for a better tomorrow – as our Company vision states – we are committed to strengthening and improving the social, economic and environmental fabric of the communities where we operate and where we source our raw materials, as well as the future generations who will be impacted by the choices we make today.
To meet this commitment, over the next five years we will support local projects and charitable causes in the communities where we operate globally. Our broad network of Givaudan Green Teams – cross-functional site teams dedicated to driving local sustainability activities – will nurture new environmental and social projects in local communities and new internal eco-efficiency projects.
To meet our promise to protect our planet we will stabilise our environmental impact while increasing production volumes. To achieve this we have strengthened our eco-efficiency targets and will further reduce our CO2 footprint, waste production, energy consumption and water use by 2020.