DyStar demonstrates commitment with Integrated Sustainability Report
Posted October 14, 2020
SINGAPORE – DyStar, a leading specialty chemical company with a heritage of more than a century in product development and innovation, announced the release of DyStar’s Integrated Sustainability Report for 2019-20.
In this report, DyStar has adopted an Integrated Reporting <IR> framework that enables the organization to better communicate essential values across multiple stakeholders through meaningful assessments based on the six major capitals, namely financial capital, manufactured capital, intellectual capital, human capital, social and relationship capital and natural capital.
“Amid the worrying COVID-19 situation, as DyStar shared its Tenth Sustainability Report, DyStar has continued to demonstrate the unwavering commitment to sustainability by gathering and presenting improved quality information to support integrated thinking, decision-making and actions that focus on value creation over time,” said Eric Hopmann, CEO of DyStar Group. “This information clearly illustrates the organization’s ability in creating value across multiple stakeholders.”
While the DyStar Integrated Sustainability Report for 2019-20 adopts a new reporting approach, it is still based on the fundamentals of GRI Standards: Core option. The integration of the <IR> framework refers to the company’s sustainability performance adopting the IR’s value creation model, alignment of short, mid to long term strategy, and evaluated based on the concept of multiple capitals, which have been adopted by the International Integrated Reporting Council (IIRC) since 2013.
In order to drive DyStar towards an integrated value creation model, DyStar’s management agreed on established commitments and goals for each capital and assigned a responsible department to lead these specific initiatives on a global basis. The report also presents DyStar’s 2025 Sustainability Master Plan, which was earlier presented to the management, outlining clear objectives, goals, roadmap, and specific outcomes for each capital stock.
The overall plan is aligned with and supported by DyStar’s Global Sustainability vision to be the environmental and innovative global leader in its chosen industries.
As part of DyStar’s commitment to environmental sustainability, only e-magazine and PDF version will be made available for download from https://www.dystar.com/sustainability-reports/.