Umicore

Euronext Brussels: UMI69Credible Contributor· Provisional

0 followersRecycling / circular·Brussels, Belgium

www.umicore.com

Belgian materials technology and recycling group that recovers precious and base metals from complex e-waste and industrial residues, and produces battery cathode materials for electric vehicles.

69/100

Credible Contributor· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: lowData confidence: high

Why it's on ClimateTicker

Umicore's core business — recovering precious and base metals from e-waste and producing EV battery cathode materials — is structurally aligned with the circular economy and clean mobility transition, making it a genuine climate enabler rather than a greenwasher. Its SBTi-validated targets and published Climate Transition Plan are credible and show real interim progress, with a 31.4% Scope 1+2 reduction already achieved against a 2025 interim milestone of 20%. However, investors should weigh persistent local pollution issues at its Hoboken smelter, cobalt supply-chain scrutiny linked to DRC sourcing, a €1.6 billion Battery Materials impairment driven by EV demand slowdown, and the reality that Scope 3 emissions (~5.8 billion kg CO2e) dwarf operational footprint.

enablerUmicore earns revenue through three segments: Recycling (precious/base/specialty metal recovery from complex industrial residues and e-waste), Catalysis (autocatalysts for ICE and fuel-cell vehicles), and Energy & Surface Technologies (rechargeable battery cathode active materials for EVs and portable devices); it generates roughly €3.5 billion in annual revenues excluding metals.

Commitments & Certifications

CDP: Disclosing — specific score unconfirmed publicly for 2024 ↗other: MSCI ESG Rating: AA ↗other: EcoVadis scored (controversy flagged) ↗other: EU Responsible Cobalt Sourcing — First certified company ↗other: 2024 Carbon Clean 200 — Ranked 126/200 ↗SBTi: Targets validated ↗

Controversy & Greenwashing Watch

mediumHoboken Lead in Fine Particulate Matter — April 2024 Spike

Exceptionally high concentrations of lead in fine particulate matter were recorded near the Hoboken site in April 2024, linked to road construction disturbing historical metallurgical residue beds, prompting city-level monitoring actions.source ↗

mediumBattery Materials €1.6 Billion Impairment and Strategic Retreat

Umicore booked a €1.6 billion non-cash impairment in its Battery Materials division in H1 2024 and paused construction of its Canadian gigafactory, reflecting a significant overestimation of near-term EV demand and raising questions about the credibility of its prior growth narrative.source ↗

mediumDRC Cobalt Supply Chain — Tenke Fungurume Mine Allegations

Umicore was identified as an alleged indirect buyer from the Tenke Fungurume Mine in DRC, whose operator CMOC faces accusations of air and water pollution harming nearby communities and workers.source ↗

mediumDRC Artisanal/Small-Scale Cobalt Sourcing — Investor ESG Scrutiny

Umicore has faced sustained institutional ESG investor scrutiny over alleged inadequate disclosure of cobalt sourcing compliance in DRC supply chains, particularly regarding artisanal and small-scale mining customer practices.source ↗

highWorkplace Fatalities — ChemScore EHS Flagging

ChemScore's 2023 assessment noted that Umicore had been involved in incidents leading to fatalities over the prior five years and recommended a redesign of its Environment, Health and Safety strategy.source ↗

highHoboken Lead Contamination — Children's Blood Levels

Children living near Umicore's Hoboken smelter have been found with elevated blood-lead levels (one reported case at five times the safe threshold); Umicore has offered to buy out neighboring homes to create a buffer zone and is subject to ongoing regulatory soil investigations by OVAM.source ↗

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