AkzoNobel publishes its annual report 2024

AkzoNobel's online annual report is available via the company's website and provides comprehensive reporting on the financial results and key business developments in 2024. The sustainability section has also been expanded to bring the ESG disclosures in line with the Corporate Sustainability Reporting Directive (CSRD). In his opening speech, CEO Greg Poux-Guillaume reflects on a year that brought a number of challenges. "We faced a complex operating environment characterized by persistent inflationary pressures, negative currency effects and unstable markets," he says. "While these headwinds intensified competition and tested our resilience, they also strengthened our resolve to take control of our own destiny by taking self-help measures that ultimately improved our performance.

The four main sections of the 2024 Annual Report focus on strategy and operations, sustainability, leadership and governance, and financial performance. Key highlights from the sustainability pages include insights into how the company has reduced its carbon footprint by 41% (Scope 1 and 2) compared to the 2018 baseline - highlighting the progress AkzoNobel is making towards its 50% reduction target for 2030. This is mainly due to the share of renewable electricity reaching 65%. Looking ahead to 2025, Poux-Guillaume adds: "We are making AkzoNobel stronger, more dynamic and more competitive. This will benefit us when our end markets start to grow again, so we are on track to achieve our medium-term ambitions. Our direction is clear and our strengths are real".