on economic and ESG performance
Who we areHumanby nature.
We seek to elevate the human experiencewith the products and solutions we craft.We believe in the wisdom of nature andit is our mission to protect it.We are growing with purpose.
What we do
Creating for happier,healthier liveswith love for nature.
We are committed to driving long-term,purpose-led growth in collaboration with ourcustomers. With our two business divisions,Taste & Wellbeing and Fragrance & Beauty, weaspire to increase our positive impact on the world.
This entails pioneering sustainable solutionswhile showing our love for nature and takingthe lead in advancing initiatives aimed at improvingthe happiness and health of people.
Givaudan at a glance
Our size and operational footprint give us unique exposure to a variety of markets.We continue to invest with additional talent and new facilities to service the wide diversity of our customers.
About this report
We, the senior leadership atGivaudan, acknowledge ourresponsibility for ensuring theintegrity of our integrated report,which we believe addressesall matters that have, or couldhave,amaterialeffectonourability to create value.
Reporting principles fordefiningreportquality– Accuracy
Frameworks applied– Framework
Our safety data covers all productionsites and the non-operational sitesover 50 employees in all Givaudanentities and all acquisitions since 2014.
– GRI Standards– SASB Standards– TCFD Recommendations– SDGs– UN Global Compact– IFRS– SIX Directive Corporate Governance– Swiss Code of Best Practice forCorporate Governance– Alternative performance measures
– Balance– Clarity– Comparability– Timeliness– Verifiability
The scope for environmental performanceindicators (operations and supply chain)covers all production sites at all Givaudanentities and acquisitions except forFragrance Oils, Custom Essence andExpressions Parfumées ¹. Figures just forthe two Scope 3 categories of otherIndirect materials & services categories(excluding existing categories) andcapital goods do not include data forthe acquisitions of Naturex, Vika, Drom,Ungerer and DDW ¹.
Scope and reporting periodThis report is published annually.
In line with the financial reporting,the reporting period is 1 January to31 December. The exception is theenvironmental data, which covers the12-month rolling period from 1 Octoberto 30 September.
The report onnon-financial mattersaccording to the Swiss Code ofObligationscan be found onwww.givaudan.com › Investor events ›Annual General Meeting.
Gilles AndrierCEO
Calvin GriederChairman
The scope for responsible sourcingperformance indicators covers allGivaudan procurement spend, integratedand accounted for through our SAPsystem. Expressions Parfumées procurementspend is not considered as part of theprogramme. Procurement spend datadoes not include DDW and Vika ¹.
GRI1:Foundation2021We have taken into account all
The scope for financial reportingcovers all Givaudan entities and allacquisitions since 2014.
requirements and standards fromGRI 1: Foundation in the preparationof our sustainability reporting,especially the reporting principles fordefining report content and quality.
The scope for the social performanceindicators is based on headcount, definedas the number of physical people,including internal temporary and regularemployees in all Givaudan entities andacquisitions except DDW, CustomEssence, Ungerer, Expressions Parfumées,Fragrance Oils, Albert Vielle, Vika andAlderys ¹. Total Full-Time Equivalent (FTE)employees covers all Givaudan entitiesand the 19 acquisitions since 2014.
1.Each year we continue to work on integrating theacquired companies to our full reporting scope.
Reporting principles fordefiningreportcontent– Sustainability context
– Completeness
Table of contents
Responsible valuecreation
Financial and non-financialperformance
ESG impactand progress
Appendix
A year in review
42023 key figures6Our key innovations8External recognition of our ESG impact10Chairman's letter12CEO interview
2023 key figures
CHFmillion6,915Sales
94%Purchased renewableelectricity
Social28%Women in seniormanagement
100%Non-executive and independentBoard members
–43%GHG emissions scope 1+2since 2015Environment
Governance20%Non-financial targets inPerformance Share Plancompensation
4.1%Sales growth LFL¹
–47%Total recordable case ratesince 2018
13.3%Free cash flowas a % of sales
–18%Water withdrawal ratereduction on sites facingwater stress since 2020
33%Of our total materials andservices sourced responsibly⁴
1.9%Average base salary differencebetween men and women⁵
CHF68.00Dividend per share 2
>440,600People benefited fromcommunity initiatives
CDP AALeadership in transparencyand action on climate changeand water security³
73%Of employees have completed thePrinciples of Conduct training
1.LFL:Like-for-like excludes the impact of currency, acquisitions and disposals.2.Subject to shareholder approval at the AGM on 21 March 2024.3.This is the