DyStar, a specialty chemical company, has released its Integrated Sustainability Report for 2019-2020.
According to DyStar’s website, the report acts as the company’s commitment to sustainability, and the report presents DyStar’s 2025 Sustainability Master Plan, which outlines objectives, goals, a roadmap and specific outcomes.
According to the company, 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”.
Framework
For its 10th sustainability report, the company says it has adopted an integrated reporting (IR) framework 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”.
DyStar adds that the integration of the IR framework refers to the company’s sustainability performance adopting the IR’s value creation model; the alignment of short, mid to long term strategy; and evaluation 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.
“Whilst the DyStar Integrated Sustainability Report for 2019-2020 adopts a new reporting approach, it is still based on the fundamentals of GRI Standards – core option,” the company says.
Compliance
Alongside its commitment to sustainability, DyStar had been the subject of discussion earlier this year (2020).
The release of the sustainability report follows news that the dyestuff and chemical manufacturer had been found to be incompliant with ETAD (The Ecological and Toxicological Association of Dyes and Organic Pigments Manufacturers) membership requirements.
ETAD released a statement this January (2020), stating: “In 2019, DyStar was found no longer compliant to the eligibility requirements for an ETAD company. However, before the final decision on its status was reached according to the Rules Governing the Enforcement of ETAD’s Code of Ethics, DyStar terminated its membership per 31 December 2019.”
Although the exact reasons for DyStar’s departure remain unknown to the public, Adrian Ho, senior manager, global communications, DyStar Group, said: “As a leading global chemical and dye supplier, DyStar is committed to sustainability. This is demonstrated across our periodical reviews, as we align our business needs, market demand and customers’ requirement from time to time. DyStar has decided to join TEGEWA (an association that represents chemical substance manufacturers) following our periodical review. No further comments on ETAD.”
To read DyStar’s sustainability report, visit www.dystar.com/sustainability-reports.
