• ●1944

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For over 75 years, BIC® has met consumer needs and desires with high quality, simple, and affordable products and has become one of the most recognized global consumer goods brands, with products sold in more than 160 countries. Our vision is to bring simplicity and joy to everyday life, as we seek to create a sense of ease and delight in the millions of moments that make up the human experience.

Over time, the Group faced rapidly-changing industries and consumption trends affecting its three categories, as consumers habits and their interaction with brands continuously evolved. BIC’s mission to offer high quality products to consumers everywhere and meet their fast-changing needs, led the Group’ transformation from a manufacturing and distribution-led into a consumer-centric company.

BIC’s Horizon strategy was launched in November 2020 to genuinely transform BIC’s business, creating innovative products and services of tomorrow with an increased focus on consumer needs and sustainability. The goal was not only to amplify our core capabilities, but to go beyond them into higher-growth adjacent segments to ensure long-term sustainable growth and profitability. Horizon is embedded in the Group’s everyday operations and strategic goals.

As part of this transformation, BIC reframed its three core categories through a heightened consumer lens to tap into a stronger growth trajectory:

• ●in Stationery, BIC evolved its focus to “Human Expression”, responding to shifting consumer habits and expanding into the faster-growing Creative and Digital Expression markets;
• ●in Lighters, BIC expanded to “Flame for Life”, focusing on all consumer lighting occasions, including those non-related to tobacco, and driving towards a more balanced model between volume and value. Flame for Life is intended to drive incremental growth and maintain profitability, powered by trade-up and personalization, innovation, and a push toward sustainability;
• ●in Shavers, BIC decided to capitalize on its assets, ground-breaking innovation and manufacturing capabilities to leverage its “Blade Excellence” with the objective to maximize these assets by building a selective new business – named BIC Blade-Tech – as a high precision blade manufacturer for other brands.

Embedded in BIC’s Horizon plan are the following strategic and financial targets:

BIC is one of the leading players in the stationery, lighter, and shaver markets. Guided by our long-term vision, we provide high-quality, affordable products to consumers everywhere. This consistent focus has helped make BIC® one of the world’s most recognized consumer products goods company, with products sold in more than 160 countries.

BIC’s Horizon strategic plan launched in November 2020, aimed at driving sustainable growth by reframing our three categories to expand our total addressable markets in fast-growing segments:

In line with its Horizon strategy, BIC’s historical Stationery category evolved towards “Human Expression” to go beyond core Writing Instruments into Creative and Digital Expression. BIC constantly innovates to further strengthen its presence in both existing and adjacent segments.

Human Expression encompasses Writing and Coloring Instruments, Creative Expression which includes Arts and Crafts, Skin Creative and Digital Expression. Human Expression is a mid- single-digit growth market, which should reach c.50 billion euros by 2025 (4).

Since the launch of the BIC® Cristal® pen in 1950, BIC has continuously diversified its Stationery product range through more added-value products and innovative launches and with an increased focus on sustainability.

To name a few in the last three years, BIC launched an anti-bacterial pen BIC® Clic Stic® PrevaGuardTM, a tattoo body marker BIC® Bodymark, a new coloring range called Intensity, its first rechargeable metallic ball pen BIC® Cristal® Re’New™. In 2020, BIC acquired Rocketbook® the leading brand in Reusable Digital Notebooks. In 2022, BIC diversified further its brand portfolio, with the acquisition of Inkbox, the leading brand of high quality semi-permanent tattoos (high-quality 2-4 days decals), and Tattly, a US startup innovating in the field of high-quality temporary decals (2-4 days), which will diversify BIC's offering in the rapidly growing Skin Creative market. In the Digital Writing segment, BIC acquired AMI (Advanced Magnetic Interaction), a French innovative startup. AMI will strengthen BIC's R&D capabilities in Digital Expression.

In 2022, BIC’s global product portfolio included writing, marking (classic, permanent and temporary tattoo markers), correction, coloring, drawing instruments, semi-permanent tattoo, and smart reusable notebooks.

BIC’s historical market Writing and Coloring Instruments amounted to 18 billion(5) euros in 2021. The segment is expected to grow at around 5% CAGR 2021-2025(6) driven by the rising demand from developing countries and innovation which will fuel growth in the Developed countries. Although the market remains highly fragmented, with many local players and family-owned businesses, it is dominated by four players (BIC, Newell Brands, Pilot and Shanghai M&G Stationery) with each recording an estimated market share over 5%. BIC is the number 2 global manufacturer with 8.2% market share, benefiting from leading positions in both Developed and Developing Markets.

Over the years, BIC strengthened its presence in Writing and Coloring Instruments' market through innovative launches enabling market share gains in key countries, whether it be in core writing instruments or in added-value products. 

(In value – Euromonitor  2021)

While BIC’s portfolio is currently concentrated in historical core Writing Instruments segments, the Group’s ambition is to shift towards more added-value and adjacent segments such as the Creative and Digital Expression markets. In 2022, 24% of Human Expression Net Sales came from the Creative and Digital Expression segments.

The Arts and Crafts market is a large, mid-single-digit growth market (estimated at 10.6 billion euros in 2021)(7). The market is expected to grow by 3% (CAGR 2021 – 2025) thanks to the increasing demand of both kids’ and teens’ market as well as from adults asking for more creativity. Kids’ crafts account for more than 50% of the total. It includes a variety of sub-segments including Finger-painting, Watercolors, Kits, Crafting Accessories, Modeling Clay and Slime .

The Skin Creative market estimated at 7.4 billion euros(1) includes the permanent tattoos and the “Do it Yourself” Skin Creative segments. The fast-growing “Do it Yourself” Skin Creative segment includes temporary tattoo markers, temporary decals, henna tattoos and semi-permanent tattoos. It is expected to exceed 1.3 billion euros(1) in 2031, powered by the increasing desire of young consumers to be more fluid with their appearance and to express themselves using their body as a changeable canvas. Market players are mostly non-branded small companies.

• ●BIC entered the Skin creative market in 2018 through the launch of Bodymark®, an innovative temporary tattoo marker to address consumers’ attitudes shift towards self-expression, individuality and creativity.
• ●The acquisition of Inkbox in 2022 elevates BIC to a leadership position in the Do-It-Yourself Skin Creative industry and further enhances the Group’s existing portfolio of recognized consumer products, where different brands address diverse types of consumer groups. With its unique ability to customize, Inkbox further strengthens BIC’s DTC business and reinforces existing digital and social media engagement capabilities.  
• ●In August 2022, the Group acquired Tattly, a US startup innovating in the field of small high-quality 2-4 days decals, diversifying BIC’s offering in the rapidly growing Skin Creative market and particularly in the kids' segment.

The Digital Writing market was estimated at 6 billion euros in 2021(1). As technology is improving and becoming more affordable, this market should grow by 6% CAGR 2021-2025(1) to weigh above 7 billion euros. It encompasses four main sub-segments: reusable notebooks, smart pens, slate tablets, and stylus for tablets:

• ●BIC’s entered into Digital Writing through the acquisition of Rocketbook® in 2020, the leading smart and reusable notebook brand in the U.S.;
• ●In 2022, BIC strengthened its R&D capabilities in Digital Writing with the acquisition of AMI (Advanced Magnetic Interaction), a French company specialized in the augmented interaction technology. AMI has designed the ISKN Repaper digital tablet, which allows users to capture paper writing and drawing in an electronic format.

BIC was built on the amazing power of its Brand, which is one of the world’s most popular household names. Over time, other brands have been added to our portfolio, most of them using BIC as an umbrella to drive attractiveness and consumer engagement, including Tippex®, WiteOut® and, more recently BodyMark® by BIC.

With Horizon, BIC started to migrate to a “house brands” strategy, where each brand has a different meaning for consumers. The acquisitions of Rocketbook and more recently Inkbox and Tattly further strengthens this approach. BIC’s Human Expression division now offers a diversified panorama of brands, where consumers can each see themselves reflected and find their “own” brand favorites.

BIC’s mission is to offer products available to consumers every day and everywhere, supported by its historical strategy “A BIC seen is a BIC sold”.

BIC products are sold through a comprehensive range of channels worldwide as the Group pursues its objective to be an omnichannel specialist both offline and online. Products can be found in retail mass-market distributors, eCommerce channels (pure players, market places, B2B and B2C omnichannel retailers), traditional stores and Office Product suppliers (through contract or office superstores).

In the retail mass-market channel, Back-to-School season remains a key period. BIC offers consumers a tremendous range of school and college products through numerous displays, theatralization (for example the iconic school bus display in Europe) and merchandising tools.

Office & school supply remains a critical distribution channel where BIC has a strong position thanks to the quality, reliability and value for money positioning of its product, all even more important for companies, administrations and schools.

With the launch of BIC’s Invent The Future transformation plan in 2019, BIC strengthened its distribution network by reinforcing its e-commerce positions. In 2022, BIC maintained its leading positions in Stationery online in key markets: the Group ranked number 1 in France with 21% market share, number 2 in the UK with 18% market share, and number 3 in the U.S. with almost 13% market share (in value YTD December 2022).

In line with its Horizon strategy, BIC’s historical Lighter category evolved to “Flame for Life”, focusing on all lighting occasions. Flame for Life aims to balance volume with a more value-driven model, powered by trade-ups, personalization and innovation, to respond to changing consumer trends, while focusing more on sustainability.

The worldwide pocket lighter market is estimated at 13.1 billion units (4.7 billion in value) (8).

(BIC estimates  – in value)

BIC is No. 1 worldwide in branded pocket lighters in value, with approximately 55% in value in 2021 (excluding Asia) with leading positions in key geographies including North America, Latin America and Europe. The competitive advantages supporting BIC’s leadership position include safety, quality, strong brand awareness, automated and highly efficient manufacturing process, and a solid distribution network.

(BIC Estimates)

BIC is well-known for providing safe, high quality and compliant lighters to consumers worldwide. A lighter is pressurized gas in a plastic reservoir that is lit by a flame. It can present a real danger if it is not designed and manufactured properly. The consequences can be severe and are often unknown by consumers. International Safety Standards protect consumers from unsafe lighters.

Two key standards apply to pocket lighters:

• ●international lighter safety standard ISO 9994, which sets out the basic safety requirements for a lighter. ISO 9994 is mandatory in major markets such as Canada (1989), Russia (2000), Brazil (2002), South Africa (2002), Argentina (2003), Thailand (2003), Mexico (2004), South Korea (2005), the 27 members of the European Union (2006), Japan (2011), Indonesia (2011) and Turkey (2012);
• ●child-resistant requirements. A child-resistant lighter is purposely modified to make it more difficult to operate by children. Under this standard, the basic requirement is that a lighter cannot be operated by at least 85% of children under 51 months. Child-resistant legislation is mandatory in major countries such as the U.S. (1994), Canada (1995), Australia (1997), New Zealand (1999), the 27 members of the European Union (2006), Japan (2011), South Korea (2012) and Mexico (2016).

Low-cost lighters too often fail to comply with safety standards. Since the late 1980s, lighter models imported from Asian countries have gained market share. They currently account for over half of the global market (in volume).

BIC has been defending its position in this competitive landscape since its creation and advocates for enhanced lighter safety and quality. BIC® lighters comply with even more stringent safety, quality, and performance requirements. For example, the gas reservoirs of BIC® lighters are made from POM (PolyOxyMethylene), a high-performance resin with very high impact resistance. This means that BIC® lighters contain more gas, allowing more ignitions thanks to their wall’s thinness. They are also filled with pure isobutane, which ensures the flame’s stability throughout the lighter’s life.

BIC offers a wide range of high-quality Pocket and Utility lighters manufactured with the highest safety standards.

While BIC’s shift to balance more volume with value in the model for its Lighter business started years ago, this was accelerated with the launch of the Horizon plan. More recently the following developments were made to support this transformation:

• ●the acquisition of Djeep in June 2020, which strengthened BIC’s portfolio in the added-value segment of decorated lighters;
• ●the launch of  EZ ReachTM, BIC’s first pocket Utility lighter, in July 2020. The product has already reached 5.4% of the US pocket lighter market (Source: IRI YTD December 2022). Utility lighters (including BIC® EZ ReachTM) accounted for 11% of BIC’s 2022 Lighter Net Sales;
• ●the deployment of Revenue Growth Management strategy to drive efficiency in promotional and pricing activities.

In 2022, added-value lighters, including BIC®EZ ReachTM, Djeep®, utility and decorated lighters, represented 38% of BIC’s total Lighter Net Sales, on track to reach the Group's 50% objective by 2025.

An important pillar of BIC’s Flame for Life strategy is to drive growth by expanding to all flame occasions through incremental usages, as lighters have extensive non-smoking-related usages among different consumer activities. For the last six years, BIC lighter teams have undertaken extensive research to deepen their knowledge of the different flame usages. One of the main findings confirmed that candles and cooking are the most important non-tobacco-related flame usages in developed and developing regions (Ipsos study for Calyxis – October 2021). These lighting occasions represent a growth opportunity for BIC, well-positioned to answer the usages non-related to tobacco through the strength of its brand.

BIC® lighters are sold through traditional distribution channels (such as convenience stores and tobacconists), retail mass-market distribution stores, and online in the United States. Both online and offline, in-store visibility is key to driving impulse purchases, and part of BIC’s historical strategy “A BIC seen is a BIC sold”.

In the traditional channel, which is the leading channel for lighters, BIC is the undisputed leader driven by full-distribution based on strong routes-to-market, and relevant customer and consumer programs driving value to the business. Counter displays and trays help BIC showcase large ranges of decorated lighters and innovations such as BIC®EZ Reach, addressing everyday needs while generating impulse instore purchases.

In the mass-market channel, BIC focuses on relentless store visibility: at the check-out with classic pocket lighter ranges but also throughout affinity aisles such as candle and barbecue where EZ Reach and Utility lighters are highly attractive to consumers.

In e-commerce, in 2022, BIC continued to expand its BIC.com website in the U.S. driven by the “Design my BIC” offer enabling consumers to create sets of personalized lighters. They can also find exciting special editions, mono-color sets and brand new series of lighters.

BIC’s Blade Excellence division focuses on reinforcing its one-piece business with consumer-driven and sustainable added-value products and capitalizing on our advanced R&D and manufacturing capabilities through the creation of BIC Blade-Tech, the Group's B2B business for the wet shave market.

The wet shave market was about 10.9 billion euros in 2021 and accounted for around 48% of the hair removal segment(9) in value . The estimate 2021-2025 CAGR(10) for Total Wet-Shave market is +4.9%.

(Euromonitor – 2021- In value)

The Wet-Shave market is split into three product segments: double-edge, one-piece and refillable. On the highly competitive environment of the one-piece and refillable segments, growth is mostly driven by new products which offer improved performance and added features. A constant ability to innovate is key to maintain a leadership position. With that objective, BIC has made the shift towards premiumization to gain market share on value-added segments, while keeping BIC's strength in offering products at the right value.

The global landscape is dominated by three legacy brands (Gillette, BIC®, Edgewell) though over the last decade “disruptors”, primarily in the US launching as direct-to-consumer brands, have emerged.  While such brands have expanded presence by securing distribution in brick and mortar,  they are not directly competing with BIC given their refillable segment focus.

BIC is the No. 3 worldwide player, with almost 7% share(11) of the total wet shave segment. In the non-refillable segment (disposable), BIC ranks n°2 worldwide with 22% market share (12). The Group holds key positions in Europe, in the United States and in Latin America.

In the 1970s, BIC revolutionized wet shaving when it launched the first one-piece shaver: the single blade “classic”.

Over the last decade and supported by the implementation of the Horizon strategy, BIC has focused its innovation, sales and marketing efforts on the high performance three, four, and five-blade sub-segments, offering  thus a complete range of female and male products:

• ●for Men: BIC® 3, BIC® Comfort 3®, BIC® Easy/Hybrid 3-blade, BIC® Flex range, and BIC® Flex Hybrid range;
• ●for Women: BIC® Pure 3® Lady, BIC® Soleil® range including Bella®, Glow®, Balance and Miss Soleil; BIC® Soleil Escape, BIC® Click Soleil 5;
• ●for Men and Women: at the end of 2022, BIC launched BIC® EasyRinse online in the US market, a new razor for men and women featuring a first-of-its-kind blade design and patented anti-clog technology. This new product will be rolled out throughout 2023, in stores in the U.S.

In 2022, 63% of Blade Excellence Net Sales was generated with added-value products.

In line with Horizon strategy, BIC also innovates with new products centered on sustainability and tailored to consumer evolving trends. As such, BIC recently launched:

• ● BIC® BAMBOO shaver in 2021: a five-blade Hybrid Flex 5 with a movable head and a handle made from responsibly sourced bamboo;

• ●an innovative hybrid shaver range in Europe in 2021 made with recycled plastic handles and sold with recyclable packaging;
• ●BIC® Click Soleil 5 in 2022: a razor for women with a handle made from 40% recycled material and co-developed with the raw material supplier Avient.

With Horizon, BIC created BIC Blade-Tech, aimed at leveraging BIC’s leadership position as a high precision manufacturer to power other brands and thus expand our addressable market into the total wet shave market, estimated to reach 13 billion euros for 2025(13). A team including a commercial sales force dedicated to this new business, was created in 2021. BIC Blade-Tech started to ship its first customers, including both new and already established brands, in September 2021. In August 2022, BIC added a third customer to its portfolio. Based in India, this customer sells “powered by BIC” products for men. Overall, the new B2B business is successfully ramping up and contributed to 15% to the Blade Excellence division's growth in 2022. As planned, BIC Blade Tech is also accretive to the overall division’s profitability.

Include various strategic and tactical operations:

• ●DAPE 74 Distribution, which sells to tobacco shops in France;
• ●BIC® and non-BIC®-branded products: these include batteries, and a line of shaving preps, all of which are designed to grow the BIC® Brand in key markets;
• ●advertising and promotional products in Europe.

Introduction

BIC actively and dynamically manages its risks. The goal is to enhance the Group’s ability to identify, manage, prevent, mitigate and monitor key risks that could affect the Group's:

• ●employees, customers, shareholders' interest, assets, environment or reputation;
• ●ability to achieve its targets;
• ●ability to stay true to  its values; and
• ●ability to comply with laws and regulations including codes of ethics.

This approach is built around identifying and analyzing the main risks to which the Group is exposed. 

A description of the risk management system can be found in Section 2.4. Risk management and internal control procedures implemented by the Company and Insurance.

The risks set out below are not the only risks faced by BIC. The risks set out below do not constitute a comprehensive enumeration of all risks that the Group is potentially exposed to. Unforeseeable events may also impact the Group’s legal, financial or reputational capabilities.

BIC has taken a series of measures to mitigate the risks. One of these, described in Section 2.4.4 Insurance. Coverage of risks, is covering risks through adequate insurance policies.

Ukraine 

The Group closely monitors the potential consequences of the Ukraine crisis, on its activities.

In 2022, Russia and Ukraine accounted for 2.8% of BIC total Net Sales. Following the onset of the war, BIC paused all media, advertising, hiring, and capital investment in Russia, with the goal to ensure that this business disruption had as little impact on affected team members as possible. Simultaneously, BIC limited its product selection at retail to basic essential items only and remained diligent in complying with all regulatory decisions, including European and U.S. sanctions. BIC remains in complete control of its brand and intellectual property in Russia to counter any potential moves for brand appropriation. The Group has no industrial presence in these two countries. Please refer to “Risks related to Supply Chain” and “Risks related to IT security”.

In accordance with French Act no. 2017-399 of March 27, 2017, on the duty of vigilance of parent companies (“the Act”), BIC developed and implemented the following elements of a Vigilance Plan:

These elements include the necessary due diligence measures to identify risks and to help prevent:

• ●Infringement of Human Rights and fundamental freedoms;
• ●Health and safety hazards; and
• ●Environmental damage.

They target the major risks arising from:

• ●Group activities; and
• ●The activities of its subcontractors and suppliers with which it has an established business relationship to the extent such activities are connected with this relationship.

For the purposes of this section, the Group complies with the principles outlined in Part II of the Risk Management and Internal Control Systems – Reference Framework updated in July 2010 by the Working Group chaired by Olivier Poupart-Lafarge and established by the AMF. This represents a partial adoption of the full text that also provides an Application Guide for Internal Control Procedures for the Accounting and Financial Information Published by the Issuer.

The related specific control activities are the responsibility of the local subsidiaries. Those subsidiaries continuously adapt them in response to current circumstances, drawing guidance from the Group Accounting and Controllers’ Manuals. The Application Guide has not been formally compared to existing procedures and processes, but the Group does not expect material differences given the similarities between the Application Guide and these two manuals.

Risk management is a continuously evolving system that looks to the Group’s activities, processes and assets.

Risk management encompasses a set of resources, behaviors, procedures and actions that are tailored to the characteristics of the Company and that enable managers to keep the Group’s risks at an acceptable level.

Risk represents the possibility of an event occurring that may affect:

• ●the Company’s ability to achieve its business goals and core strategy;
• ●the Company’s ability to abide by its values, ethics, laws and regulations;
• ●the Company’s personnel, assets, environment or reputation.

Risk management also helps Company management to:

• ●create and preserve the Company’s value, assets and reputation;
• ●safeguard decision-making and the Company’s processes to achieve its objectives;
• ●ensure that the Company’s actions are consistent with its values;
• ●mobilize the Company behind a shared vision of the main risks.

The process also incorporates the definition of internal control as a Company-wide system, defined and implemented by the Company to ensure that:

• ●laws and regulations are complied with;
• ●the instructions and guidelines issued by Executive Management are followed;
• ●the Company’s internal processes are working properly, particularly those involving the protection of its assets. Assets are understood to be both tangible and intangible (know-how, brand, image or reputation) and are used throughout existing Company processes;
• ●financial information is reliable.

In general, internal control contributes to:

• ●corporate oversight;
• ●the efficiency of its operations; and
• ●the efficient utilization of its resources.

The first objective refers to all applicable laws and regulations governing the Company and that are part and parcel of its daily activities to ensure compliance.

The second addresses the guidance given to staff to ensure they understand what is expected of them, and their scope of responsibility. This communication process is built around the Company’s objectives, cascaded down to the team members.

The third objective covers all operational, industrial, commercial and financial processes. 

The final objective relates to the preparation of reliable financial statements (2). The reliability of such information depends on the quality of the associated internal control procedures and system (see reporting procedures Section 2.4.2.4 Internal Control procedures) that should ensure:

• ●the segregation of duties principle, enabling a clear separation between input, operating and retention duties;
• ●that function descriptions provide guidance regarding the identification of the source of the information and materials produced;
• ●the ability to check that operations have been performed in accordance with general and specific instructions and have been accounted for to produce financial information that complies with relevant accounting standards.

Risk management and internal control, as defined in this report, apply to SOCIÉTÉ BIC as Group parent company and all Group consolidated entities.

The internal controls in place have been designed for all entities to reflect:

• ●the existing organization;
• ●the objectives set out by the Board of Directors and the Executive Committee (see Section 2.4.3 Risk Management and Internal Control Participants, Specific Structure(s) in Charge/Respective Roles and Interactions); and
• ●compliance with laws and regulations.

Supporting principles and systems have been set up in all relevant areas and subsidiaries, considering local specificities and regulations. These principles are also known to and followed by the various centralized Group departments.

The Risk Management principles also apply to any entity joining the Group. Whenever possible, the Group asks its subcontractors and suppliers to also comply with these principles. For instance, SOCIÉTÉ BIC asks its suppliers to follow the safety rules for team members that apply within the Group.

Even with the most efficient organization there are inherent limitations in risk management and internal control. Risk management and internal control systems cannot therefore provide an absolute guarantee that the Company’s objectives will be met. The major existing limitations are outside developments and uncertainties, the subjective nature of people’s decisions and potential human error.

Moreover, any time a control activity is to be implemented, the comparative cost/benefit must be considered, ensuring reasonable coverage of the necessary controls.

BIC’S sustainability reporting general characteristics

For convienience please see below the items required by French executive order No. 2017-1265 of August 9, 2017(1) in the following chapters of BIC's  management report: 

In 2020, BIC released its first Climate-Related Performance Report in keeping with the guidelines proposed by the Task Force on Climate-related Financial Disclosure (TCFD). This report is now part of Section 3.2.1. Consequently, this section follows the headings suggested by the TCFD.

BIC identifies information expressly required in the Non-Financial Performance Statement with the initials [NFPS] and [NFPS Risk X]. The Group also includes all the action plans related to its Sustainable Development Program including those that do not directly help prevent or reduce a major risk. The Group has, however, reorganized this chapter to prioritize the information directly relating to the Non-Financial Performance Statement.

In 2022, BIC decided to adjust its current Non-Financial Performance Statement structure to meet the upcoming Corporate Sustainability Reporting Directive’s (CSRD) Sustainability reporting standards. 

A summary table of the Non-Financial Performance Statement can also be found in Section 3.5.1.

Main CSR risks and opportunities are outlined in Section 3.1.3.

Launched in 2003, BIC’s Sustainable Development Program continues to evolve and address major environmental and human issues as well as stakeholder expectations. It also benefits from advances in R&D, innovation, and evolutions in the Group’s operations.

This exhaustive program encompasses all key sustainability issues as well as related risks(2) that BIC must address to fulfil its Corporate Responsibilities. A unique reporting system is used to monitor the Group’s performance for continual improvement. Since 2018, the program has been guided by the five ambitious commitments that make up “Writing the Future, Together”. In 2020, this program was reinforced with additional commitments that will fundamentally transform the way the Group uses plastic. Furthermore, in 2022, BIC announced its Greenhouse Gas (GHG) emission reduction targets, taking the Group a step further in its consumer-centric approach, grounded in Sustainable Innovation, to respond faster and more impactfully to consumer demands and the important topics of this generation.

Through its Sustainable Development Program, the Group also contributes to the United Nations (UN) Sustainable Development Goals (see Section 3.1.1.5).

In 2017, BIC defined ambitious commitments that enable the Group to create value over the long-term for the benefit of all stakeholders. This effort is based on the principles of its Sustainable Development Program, namely assessing the materiality of the issues and incorporating the UN Sustainable Development Goals. It also takes into account regulatory requirements and consultations with stakeholders, as well as lessons drawn from regular benchmarking.

The vision  defined is set out in “Writing the Future, Together,” driven by BIC’s ambition for sustainability (see Section 3.1.1.2) and comprises five commitments which are an integral part of the Group’s strategic Horizon plan.