How our business model creates impact through our stakeholders

Our focus on sustainability evolves as the world changes; it has always been and will remain a central element of how we do business. Our first product was lanolin, a natural sustainable ingredient created from processing sheep’s wool for textiles. Today, our approach to sustainability comes in many shapes and forms. 

Committed to the United Nations Sustainable Development Goals

The SDGs underpin our Commitment. Twenty-Three out of the 169 targets that sit below the SDGs are drivers of our strategy; those where we must reduce our negative impacts and where we can make the biggest positive contributions. The targets are grouped around the themes of climate, nature and society, hence our Commitment to be Climate, Land and People Positive.

Beyond these 23 drivers, the remaining SDGs and their targets are similarly important; while they do not drive our strategy, we are contributing to them through our Fundamental objectives and Croda Foundation, and we depend on wider progress across society towards many of them as enablers to achieve our Commitment.

Just as partnerships are critical to the success of the UN Sustainable Development Agenda through SDG 17, achieving our 2030 Commitment is dependent on productive partnerships with all our stakeholders (see p3 business model). In 2022 we joined the WBCSD, the global CEO-led community of more than 200 leading sustainable businesses working together to accelerate the transformations needed for a net zero, nature positive, more equitable future.

Our suppliers

As a significant contributor to our impacts on planet and society, we partner or form consortia with suppliers to help improve sustainability practices in supply chains, and commit to sharing the benefits equitably.

Our people

Our highly skilled employees choose to work for Croda because they identify with our Purpose, are excited by our Commitment and see our values of Responsible, Innovative and Together aligning with their own. We maximise our positive impact on our people by keeping them physically and emotionally safe, paying a Living Wage, building their skills and competencies, and giving them fulfilling roles.

Our customers and markets

We deliver more than 6,000 specialty ingredients to more than 15,000 organisations worldwide. Our customers use our ingredients to differentiate their own products and to meet sustainability commitments, regulatory requirements and changing consumer demands. Through our customers and their products, our ingredients can improve consumers’ abilities to manage the impacts of consumption on planet and society.

Our innovation partners

Our partnerships with universities, research organisations and startups contribute to the technologies we can deploy to make an impact. Our understanding of the sustainability needs of our customers and collaborative approach helps them to secure funding and develop breakthrough technologies.

Our local communities

Providing a Living Wage for all our people further benefits the communities where we live and work, along with the continued investment in our sites. Croda employees donated 4,202 hours via our 1% Club through volunteering in their local communities. This focuses on STEM outreach through schools, summer camps and sponsoring students, prioritising disadvantaged and underrepresented groups.

Industry

Actively participating in consortia and trade associations enables industry-wide challenges to be addressed and improved regulatory and voluntary sustainability standards to be developed.

Our shareholders

Investor needs and expectations relating to the risks and opportunities arising from environmental, social and governance (ESG) issues continue to grow. Our focus on impact and transparent approach to sharing data and information enables shareholders to understand and calculate the positive effects we bring to their portfolios.