4.11 Explanation of whether and how the precautionary approach or principle is addressed by the organisation

Risk management constitutes a significant part of Orion’s corporate governance. The aim is to identify, measure and manage the risks that might threaten the company’s operations and the achievement of the objectives set for the company.

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4.12 Externally developed economic, environmental, and social charters, principles, or other initiatives to which the organisation subscribes or endorses

Orion is a member of the international Responsible Care programme, which is a voluntary environment, health and safety initiative of the chemical industry. The objective of the programme is to promote operations that are in line with sustainable development, both form the social and environmental point of view. All participating companies are committed to developing their products and operations in a way that increases social well-being. The programme has participants from over 50 countries.

In 2008, Orion joined the Energy Efficiency Programme launched by the Confederation of Finnish Industries (EK). Under the agreement, Orion aims to cut its energy consumption by 9% by 2016, compared with the 2005 level. This includes the consumption of energy, heat and fuels. Energy conservation cannot be based on lower production quality or poorer working conditions.