Donations & charitable contributions policy
Introduction
Umicore wants to be, and to be seen, as a responsible corporation and as a good corporate neighbour. In this context, Umicore wishes to support a number of worthwhile causes both financially, as well as putting time and talent at their disposal.
By supporting these causes, Umicore wishes to promote its corporate reputation, foster its image as an employer and contribute to raising pride and job satisfaction in its employees, while making an additional contribution to the well-being of the communities in which it operates.
Budget
Umicore has decided to allocate each year approximately 0.5% of its consolidated EBIT to such donations and charitable contributions. About two thirds is to be spent on local initiatives in the communities surrounding Umicore’s industrial operations at the initiative of the local management and staff.
Umicore believes that by charging local sites with this task, it will be able to assess more accurately where it is able to make a positive difference in the communities in which it operates. Umicore’s support may include contributions in kind and freeing staff to work on community related projects.
It is the responsibility of each BU manager to allocate the available budget over the various sites under his responsibility. Resources for multi-BU sites should be pooled.
At the corporate level, Umicore will support causes which are more global in scope. These will be focused in the first instance on projects and initiatives furthering the understanding of issues linked to sustainable development.
Reporting
The donations at local level will be listed in the action plan with respect to “ accountability to the local community” , which has to be made annually as part of the Umicore Sustainable Development Objectives.
This plan, a copy of which has to be addressed to the office of the CEO each year by the end of June, should list the planned actions and the budget for donations for the current year, as well as an evaluation of the impact of the actions undertaken in the previous year.
By year end, all sites need to report the exact amount spent on donations and charitable contributions (whether monetary, in-kind or as staff time), so that a consolidated figure can be communicated externally.
Umicore on the way to sustainability