Already for many years, Recticel, as a responsible organisation, has committed to conducting a sustainable policy based on the following specific pillars: quality, health, safety and environment. To achieve its objectives, the Group has a preference for developing strong relations and initiatives with all its stakeholders. At organisational level, the Group has therefore already for a number of years been introducing various guidelines and rules of conduct internally to demonstrate its integrity and sustainable business practices, as key elements of business management. In addition to the legislative framework, which ensures that companies conduct an ethically, environmentally and socially responsible business policy, Recticel wishes to underline its attitude to these subjects by adopting the following commitments and guidelines, among others:

• Subscribing to the internationally recognised Responsible Care® Global Charter, in which Recticel undertakes to produce in as sustainable a manner as possible. This includes the Group’s commitment to applying the best technology available in order to minimise environmental pollution as far as possible.
• Subscribing to the product safety standards under the CertiPURTM label. The CertiPURTM label is awarded only after positive confirmation that the polyurethane products to be used in mattresses and seating satisfy in full the rigorous health, safety and environmental requirements. All the Group’s comfort foam production plants have been awarded this label.
• Recticel’s Group Safety, Health & Environment Manual.
• Recticel’s Business Control Guide, which lays down the basic control procedures to supplement and support the general rules of accounting and cost control.
• Recticel’s Approval Authority Guide, which lays down the distribution of powers within the Group in practice regarding financial, social, information technology, organisational, legal and public matters, etc.

• Approval Authority Guide, which lays down the distribution of powers within the Group in practice regarding financial, social, information technology, organisational, legal and public matters, etc.

Corporate social responsibility in the emerging countries

Recticel has already been operating in Central and Eastern Europe since 1990. Although the switch of production to Eastern Europe was prompted initially by the relocation of the furniture industry, Recticel has also always recognised the growth potential of these new markets. Recticel has never underestimated the challenges in these new regions and, what is more, has viewed the trend more as an important strategic opportunity. To take full advantage of these possibilities, Recticel’s objective has always been to comply with all the fundamental legal and ethical principles of corporate social responsibility. From the environmental point of view too, there were a number of basic principles which have been followed. Today, this policy has led to the difference between the ‘turnover by origin’ and the ‘turnover by destination’ becoming far smaller. In other words, the production of goods now takes place closer to the end markets, which ultimately economises on transport costs. In addition, the exchange rate risk has also been reduced and it is possible to draw on a wider network of local market knowledge and technical skills. For the past couple of years, Recticel has also been operating in China, although for the time being still on a prudent, small scale.

Admission to the universe of sustainable investments

ETHIBEL

Recticel has been selected since the end of 2004 for inclusion in two investment registers for sustainable investments of the independent consultancy and rating agency ETHIBEL, i.e. the ETHIBEL Pioneer Investment Register and the ETHIBEL Excellence Investment Register (see www.ethibel.org). On 21 December 2008, these inclusions were again confirmed, as a result of which Recticel’s corporate social responsibility (CSR) profile is continuously monitored.

The outstanding feature of the ETHIBEL Pioneer Investment Register is that it includes only pioneering companies with an above average score for their sector in the field of corporate social responsibility.

Both ETHIBEL Investment Registers are used as a basis for Socially Responsible Investments (SRI), which are offered by a growing number of European banking institutions, fund managers and institutional investors.

Forum ETHIBEL essentially offers investors three products based on the Investment Register: the ETHIBEL label, the ETHIBEL Sustainability Indices and the Forum ETHIBEL certificate. The ETHIBEL methodology is characterised by the integration of two important aspects of corporate social responsibility, i.e. sustainable development and stakeholder involvement.

Additional information about Forum ETHIBEL and ETHIBEL Investment Registers can be found on www.ethibel.org.

Kempen/sns sri Universe

Furthermore, in mid-2008, after in-depth screening, Recticel was included for the first time in the Kempen/SNS SRI (Socially Responsible Investment) universe. This means that the ethical Orange SeNSe Funds of the Dutch Kempen/SNS can invest in Recticel. In the arguments in favour of inclusion, Recticel was commended for the significant progress it was making in the field of ethical, social and environmental policy, as well as in the implementation and reporting on this. In addition, a special mention was made of the Group’s Business Control Guide and the related Safety, Health & Environment (SHE) Manual, which contains all the relevant rules, guidelines and sanctions to be complied with by all staff and the Group. Finally, it was recognised by the initiators that the health and environmental guidelines used by Recticel are particularly comprehensible and specific mention was made of the very clear formulation of the SHE management system.