and markets of the business performed well. It has also been encouraging to see the product segments most affected by the pandemic – namely Fine Fragrances, and to a lesser extent Active Beauty as well as foodservice in Taste & Wellbeing – experience a strong recovery. And overall, again we saw the resilience of the business, which has been built over many years through having ‘natural hedges’, by being in every single market in the world, in taste and wellbeing and in fragrance and beauty, with the widest diversity of product categories, and servicing a wide variety of customers. A Be yond financials, we’ve included purpose-related targets for 2025. What progress did we make here? GA Wh en we launched our purpose, ‘Creating for happier, healthier lives with love for nature’ in November 2019, we also set out a number of ambitious targets to underpin our commitment to have a positive impact on Creations, Nature, People and Communities. This is now fully embedded in our 2025 strategy, showing how we want to grow with purpose and how we express our commitment to ESG. Our ambition is that through our creations more people will enjoy happier, healthier lives, and that through these creations, we will double our business by 2030. We demonstrated strong growth through 2021 by delivering products that delight consumers and contribute to their overall wellbeing. Other highlights for 2021 included a strong focus on our climate positivity journey, and we have recently been recognised by CDP with a double A rating for leadership in climate action and water stewardship. We launched Sourcing4Good, a progressive programme which has been co-created with customers, specialists and internal stakeholders, to help accelerate our purpose goal to source all materials and services in a way that protects people and the environment by 2030. Throughout the pandemic, we’ve continued to focus on the health and wellbeing of our colleagues. This is part of our ambition to improve how we care for all our people, providing access to mental and physical health initiatives, tools and training. We also continued to make progress on our long-term journey to become a certified B Corporation, which will measure Givaudan’s entire social and environmental performance and provide independent verification that we live up to our purpose. A We s tarted the implementation of our 2025 strategy ‘Committed to Growth, with Purpose’. What have been some of the highlights? GA Ou r 2025 strategy is our five-year roadmap for how we will deliver sustainable value creation for all our stakeholders. Across our growth drivers and enablers, there were a number of highlights of how we are effectively implementing our strategy. We continued to make investments in acquisitions that further broaden our offering to our customers and strengthen our global footprint. This includes a CHF 75 million investment in a new extension to our Pedro Escobedo Fragrance & Beauty production facility in Mexico to support growth in Latin America and across customer segments. Taste & Wellbeing introduced its new Product Portfolio Architecture (PPA), realigning its portfolio to better reflect how, through the expanded product offering and capabilities, we support customers to deliver future-facing food experiences that consumers value. To accelerate alternative protein development, a new Protein Hub at our Zurich Innovation Centre was opened, bringing together customers, start-ups, academics and chefs to co-create. As part of our commitment to nature-conscious fragrances and showing our love for nature in everything we do, Fragrance & Beauty announced the launch of its Naturality Index™. This is a one-of-a-kind assessment tool that allows perfumers to factor-in the environmental impact of their ingredient selection bringing a new differentiating dimension to the creative process. Also supporting our customers to meet their sustainability ambitions, we introduced PlanetCaps™, an industry-leading first-to-market fragrance encapsulation innovation that enables long-lasting fragrance experience in a biodegradable and bio-sourced delivery system for fabric softeners. Supporting our growth enabler – simplicity and innovation in everything we do – our Givaudan Business Solutions organisation continued helping us to be more agile and reduce complexity. We leveraged this platform through the challenges of the pandemic to minimise the impact on our ability to service our customers. A Th ere were further acquisitions in 2021. How do they contribute to the strategic focus areas? GA To s upport our growth ambition, our 2025 strategy is built around three key drivers. Firstly, expand the portfolio, going beyond the current portfolio of flavours and fragrances, naturals and delivery systems into nutrition, food ingredients and beauty. Secondly, focussed market strategies which is about maximising mature market opportunities while at the same time extending our high growth market leadership, particularly in China. Finally, extending customer reach particularly with the local and regional customer segment. Givaudan – 2021 Integrated Annual Report 14 A year in review CE O interview