Regulatory & legal context
Strategic focus areaEconomic performance Value chain & society Eco efficiency
Change in risk profileIncrease
Change in opportunity profileIncrease
Umicore is exposed to changes in the regulatory environment in the countries or regions where it operates. Umicore’s businesses stand to benefit from certain regulatory trends, notably those regarding more stringent emission controls for vehicles, low carbon mobility and enforced recycling of end-of-life products.
Some regulations, such as environmental or product-related laws, can present operational challenges, higher costs and a potentially uneven competitive environment. IP and IP protection-related matters impact technology-driven businesses.
Change in context
Worldwide, changes to existing product-related legislation and the introduction of new legislation might impact our business. Although the European REACH regulation is still the most relevant for Umicore, Korean- REACH is gaining importance. For more information, see Statements, note V5.
The trend towards more stringent emission legislation and targets continued, while new measures on vehicle emissions push industry to innovate in emission control system design, including catalysts and catalytic filters and increase the demand for electric vehicles.
Increasing trade regulations in 2018’s geopolitical context continue to be a factor in Umicore’s global footprint.
Measures taken by Umicore
To ensure ongoing compliance with environmental legislation on our industrial sites, Umicore has a well-established EHS compliance audit program and constantly monitors changes in legal requirements where we operate. For more information, see Statements, note E8.
Umicore continues to play an active role in informing European legislators of various emission control technologies for both diesel and gasoline powered vehicles, to help legislators make informed decisions about future emission and testing norms.
Umicore continues to ensure its ability to meet the surging demand for cathode materials for rechargeable batteries used in electrified transportation. Our investment program to expand production capacity of cathode materials in China and Korea is on track.
Umicore successfully achieved the third and last REACH registration deadline in May 2018. In total we have submitted 216 registrations for this deadline, including 112 previous submissions. Registration of additional substances continues to be needed due to new business developments.
Umicore has submitted 4 registrations for the Korean REACH regulation for the June 2018 deadline for priority chemical substances and has submitted 2 new substance registrations. Another 3 registrations are ongoing.
We monitor that our products have the freedom to operate and proactively manage our patent portfolio.
Umicore trade compliance closely follows and responds to globaltrade conditions.