Value added by Evonik to the German economy calculated for the first time
Impact of the business on value added for society, public revenue, and jobs analyzed
Stakeholders provide food for thought on global challenges
Sustainability Report 2017 prepared in accordance with latest GRI standards
For the first time, Evonik has analyzed the value added by the company to the German economy. This shows that every €1 value added by Evonik along the value chain creates an additional €1.50 for society, e.g., through Evonik's capital expenditures or consumer spending by employees and the employees of suppliers. “For Evonik, business success and responsible conduct belong together. As well as benefiting our shareholders and employees, our success benefits the whole economy,” said Thomas Wessel, the member of Evonik's Executive Board responsible for sustainability when the company published its Sustainability Report 2017.
The picture is similar with regard to public revenue and jobs. Every €1 in taxes and levies paid by Evonik in Germany results in a further €0.14 in public revenue, for example, as a result of tax payments by suppliers and employees. In addition, every Evonik employee secures a further 2.7 jobs outside the company.
The calculation of the value added by Evonik to the economy is based on an impact analysis, which the company also applies to both positive and negative ecological and social impacts. These are outlined for the first time in the Sustainability Report 2017. There are plans to extend the scope of this analysis internationally.
The title of the Sustainability Report 2017 is “Listening pays off”, reflecting the enormous significance that Evonik attaches to dialogue with its stakeholders. This is also highlighted by the “food for thought” contributed by various stakeholders on the global challenges of our times, which forms a thread running through all chapters of the report.
In its latest Sustainability Report, Evonik provides information on its targets and target attainment, especially in the areas of governance and compliance, employees, the environment, and safety. Occupational and plant safety have a special place in Evonik's sustainability activities. Protecting employees, local residents, and the environment has priority over sales and profits. The key safety indicator accident frequency improved slightly in 2017 and again a good level of process safety was achieved in the production plants.
The Sustainability Report already conforms to the latest standards issued by the Global Reporting Initiative (GRI), which only become mandatory for all companies next year.
For the first time, Evonik decided not to publish a printed version of the report, which is available exclusively online at www.evonik.com/responsibility. The website also contains information on Evonik’s contribution to the United Nations Sustainable Development Goals (SDGs).
Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-orientated innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 36,000 employees. In fiscal 2017, the enterprise generated sales of €14.4 billion and an operating profit (adjusted EBITDA) of €2.36 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.