We draw on various resources (we call them inputs) and translate them into outputs that impact our Company and our stakeholders. The value created is holistic, and the financial and non-financial capitals are interwoven. There are positive impacts and trade- offs. For example, to increase our renewable electricity we need to invest, but in the long term we reduce costs and our impact on the environment. And if we increase spending on training and Outputs Impacts Natural Capital Preserving biodiversity and renewable resources, reducing water and energy consumption, emissions and waste Human Capital Recruiting, developing and caring for diverse and inclusive workforce M anufactured Capital New site openings, acquisitions, sustainable products produced and sold Intellectual Capital Differentiating solutions through responsible innovation Financial Capital Responsible financial growth and shared profitability Purpose Page 50 • Creations • Nature • People • Communities Social and relationship Capital B Movement Builders, Business for Nature call-to-action, WBCSD CEO call to action on human rights Our contribution to the United Nations Sustainable Development Goals Page 166 Stakeholders benefited Page 32 • Customers • Suppliers • Employees • Investors and shareholders • Local commu n ities • Public and regulatory agencies • Innovators and partners EXTERNAL ENVIRONMENT / MEGATRENDS / RISKS AND OPPORTUNITIES tools for our employees with the aim of increasing their motivation, the positive impact is increased productivity and sales. A further example can be found in our transparency and credibility on the capital market (increased stakeholder engagement), where increased trust facilitates accessing liquidity to finance our operations and acquisitions. With our purpose as our guiding star, we continue to deliver sustainable value creation that benefits all our stakeholders. Financial value creation Page 38 Givaudan – 2021 Integrated Annual Report Strategic value creation Bu siness model 27 Strategic value creation