Financial implications and other risks and opportunities for the organization's activities due to climate change
We have established a Group-wide risk management system to identify opportunities and risks that are associated with our sustainability challenges. This covers sustainability-relevant issues as a subcategory of nearly all other risk categories – from environmental and industry risks via procurement and product risks to operating risks.
The progressing climate change is just one example of the relevance of our sustainability-related risk management. Changes in climate conditions and the resulting fluctuations in the availability of natural resources can have a direct influence on our supply chain and constitute a procurement risk. Logically, we have taken this risk into account and addressed it in our procurement strategy. Symrise also set clear goals for 2020 to ensure its continued sustainable supply of high-quality raw materials. We want to have evaluated all of our main suppliers of natural raw materials on ethical and biodiversity criteria by 2020.
We consume energy and produce CO2 emissions due to our production. In order to minimize our environmental impact and make a contribution in the fight against global climate change, we want to reduce our greenhouse gas emissions by 33 % by 2020.