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Our vision for 2030 and beyond
KAITEKI, put simply, is our way of working to achieve a sustainable future. What we live by every day in our thoughts and actions are the values that will help us get there.
Now, helping us plan further ahead in this journey is our KAITEKI Vision 2030 (KV30). A strategic plan that looks not only at the next ten years, but also at some of the longer-term factors we must consider over the next thirty.
Here to tell you more is Andy Bragg, our Global KAITEKI Manager. Andy is leading us, and Mitsubishi Chemical’s group companies in Europe, on the KAITEKI journey to our future.
Why is KV30 so important for us?
“A more sustainable world is a global challenge. However, the distinct range of requirements and stretch objectives that exist in Europe demand the most comprehensive approach to making the changes that are needed. Our European operations are at the forefront of understanding this challenge and our comprehensive KV30 plan now provides a robust structure to help ensure we make positive progress in achieving the changes that will make a difference.”
What kind of demands do we need to think about?
“Every business has different external stakeholders interested in company performance and driving for change. Governments are introducing regulations and strategies to shape the future of society, customers are looking for our contribution towards delivering their sustainable objectives and more generally there is an expectation of a more sustainable and less impactful business world.
“In Europe, we have the EU Green Deal, with its low carbon emission vision aiming for net zero carbon emissions before 2050. Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) regulations are widening their scope from the current focus on chemicals to encompass a product’s whole life cycle, to help ensure no harmful materials are introduced at any stage of the process. And, the goal of a circular economy is to create pathways for returning end of life products to be the feed materials for their next cycle.”
What else do businesses need to do to meet these demands?
“No business can satisfy these demands alone, so many are now also driving progress through their supply chains. Some customers, for instance, are require we demonstrate improvement against these objectives so that they can meet theirs.
“Understanding the impact of a product’s whole life cycle is increasingly important, because you must understand where adverse impacts lie before you can propose improvements. Typically, two thirds of a product’s cumulative greenhouse gas emissions lie not with the manufacturer, but in the supply chain. This is why companies must drive their suppliers to help make a difference.”
What about other stakeholders?
“Investors, knowing that successful enterprises of the future are those which embrace these changes, need transparent and comprehensive information on performance across an ever-widening spectrum of environmental, social and regulatory requirements.
“Measuring against key performance indicators and having transparent internal/external communication are essential elements of our KAITEKI philosophy. To understand where and how change must happen across such a wide range of activities, you need an effective management system. For us, KAITEKI provides the structure while KV30 is a key tool for mapping out the changes we need to deliver. This is how we’ll stay competitive and prosper.”
How far along the KV30 journey are we in Europe?
“Every journey starts with a single step and, like many companies, we’ve been making small steps to address short-term needs. With KV30, we now have the right philosophy and systematic plan in place to bring together everything we need to reach a more sustainable future.
“This is very much a work-in-progress. The vision of where we need to get to over the next thirty years is being developed with the aim of having a world where reliance on fossil fuels is ended, recycling products into new feedstocks is normal, and our impact on the environment is minimal.
“How we achieve this is a challenge which will require radical innovation and a strong commitment to progress. Our journey has begun, we understand the challenges and are driving hard to delivering for the future needs of society and planet earth. This is KAITEKI.”