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No time to waste - the state of the circular economy innovation in the chemical industry

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Between April and July 2016 Finch & Beak conducted a research on the maturity of circularity in the chemical sector. The methodology consisted of a combination of desk research, an online questionnaire, in-depth interviews, and
meta-data from Dow Jones Sustainability Index composer, RobecoSAM and eRevalue.
The key findings of our study are that frontrunners are more often specialty chemicals companies, positioned at the end of the value chain. Their approach towards a circular model is characterized through a higher innovation success rate, more value chain collaboration and higher leadership commitment.

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No time to waste - the state of the circular economy innovation in the chemical industry

  1. 1. Düsseldorf, 8th September 2016 THE STATE OF CIRCULAR ECONOMY INNOVATION WITHIN THE CHEMICAL INDUSTRY NO TIME TO WASTE
  2. 2. ANY QUESTIONS?“We help companies accelerate their performance on today’s biggest sustainability challenges.” No Time to Waste About Finch & Beak https://youtu.be/VxRvYeDhOBs
  3. 3. How we help create immediate impact Lean Reporting Less effort, optimized outcomes Business Innovation Sustainable growth, immediate results Partnering Impactful value chain collaboration Our Finch & Beak proposition No Time to Waste
  4. 4. Background of our research methodology 1.Online survey conducted in April 2016 among senior employees in the field of sustainability and innovation 2.Interviews with knowledge institutions CDP, UNEP, ChemSec, VNCI, Green Chemistry Campus and MVO Nederland. 3.Consolidated Dow Jones Sustainability Index data (2011-2014) on innovation management and customer relationship management. All data was anonymized, no company-specific information was obtained. 4.Sector-wide industry data from eRevalue providing insights on what chemical companies report on regarding circular economy and the SDGs. Frontrunners Data Providers No Time to Waste
  5. 5. ANY QUESTIONS?“AkzoNobel, DSM, Dow and Clariant are the only companies who mention circular economy in their publications and have included it in their policy statements or management systems. All four are DJSI frontrunners.“ Source: Datamaran & Caspian Tool, eRevalue, August 2016 No Time to Waste
  6. 6. Sustainability trends through a stakeholder lens Emergence of the Sustainable Development Goals Increased importance of ESG data Agility: Corporate learning from experiences with startups No Time to Waste InvestorsGovernments Companies
  7. 7. 0 1 2 3 Frontrunners Sector Average Climate Action and Clean and Affordable Energy are preferred Source: Datamaran & Caspian Tool, eRevalue, (August 2016) (scores rangng from 0 = not mentioned, to 3 = mentioned often) No Time to Waste
  8. 8. “There can be little downside to gradually incorporating climate factors into the investment process” BlackRock: “Climate is King”
  9. 9. 0 1 2 3 Frontrunners Sector Average More firepower needed for the “Partnerships for the Goals” Source: Datamaran & Caspian Tool, eRevalue, (August 2016) (scores rangng from 0 = not mentioned, to 3 = mentioned often) No Time to Waste
  10. 10. Frontrunners recognise the importance of ESG data better 0.29 2.57 1.00 0.23 1.17 0.61 0 0,5 1 1,5 2 2,5 3 ESG Compliance ESG Management ESG Risk Management Score on public disclosure for ESG topics (scores rangng from 0 = not mentioned, to 3 = mentioned often) Frontrunners Sector Average Source: Datamaran & Caspian Tool, eRevalue, (August 2016)No Time to Waste
  11. 11. Stakeholder Awareness Business Case Data Fast Execution Agility Agile companies are aware, business case driven and fast 11No Time to Waste
  12. 12. ANY QUESTIONS? Agility of start-ups attracts corporate interest • Think follow-through. If you don't shoot for big enough wins from the start, there may not be enough to show for to get you more resources later on; • Be prepared to work at the speed of start-ups. Don't keep them waiting on you. • Select the right partners to share the knowledge. Doing it alone can be scary and costly. Innovation Culture change New Markets Platform creation Events Support Services Startup programs Accelerator/ Incubator Spin-offs Investments M&A Source: Innovation Channels and their Application, INSEAD and 500Startups, February 2016 Least recommended Most recommendedRecommended No Time to Waste
  13. 13. Three key research findings Specialty chemical firms are more mature Frontrunners have higher innovation success rates Partnering capabilities are key No Time to Waste
  14. 14. 0 10 20 30 40 051015202530 MarketCapitalizationinmio$(2015) CDP Super League Table Scores 2015 Specialty chemical firms are leading in reporting – CDP data Base Polymers Specialty No Time to Waste
  15. 15. ANY QUESTIONS? “Frontrunners have more environmental innovations for both processes and products, and generate a significantly higher revenue share with those innovations“ Source: RobecoSAM, consolidated DJSI data (2011-2014) 30 40 50 60 70 80 30 40 50 60 % of Env. product innovations vs. total product innovations %ofEn.processinnovations vs.totalprcoessinnovations Frontrunners Sector Average 22.7% 25.4% No Time to Waste
  16. 16. Our new strategy puts partnerships front and center for success in creating impact Source: Novozymes and INSEAD case study (October 2016)
  17. 17. Making it work in practice Some sample tools for sustainable innovation
  18. 18. ANY QUESTIONS? No Time to Waste CE opportunity identification requires a combination of value chain materiality analysis and LCA data
  19. 19. Outside in Identify company materiality issues and assess relevance to stakeholders Ideation: build your own innovation opportunity matrix Opportunities Map in a matrix to identify opportunities for innovation Inside out Use LCA to identify hotspots INNOVATION OPPORTUNITY MATRIX relevance impact No Time to Waste
  20. 20. ANY QUESTIONS? Commence by selecting the AREA OF IMPROVEMENT (resource) and defining the IMPACT TARGET No Time to Waste
  21. 21. DSM Clean Cow project Example of working with the Business Model Canvas No Time to Waste ©: Finch & Beak 2016
  22. 22. ANY QUESTIONS? EVENT Download the full report here www.finchandbeak.com
  23. 23. Breda, 8th September 2016 THE STATE OF CIRCULAR ECONOMY INNOVATION WITHIN THE CHEMICAL INDUSTRY NO TIME TO WASTE

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