By making careful, long-term investments in every aspect of the organisation, Jotun can build a more
sustainable company and help support the business and environmental ambitions of customers.
In 2021, Jotun successfully navigated a number of challenges,
both internally and externally. The coronavirus pandemic
impacted business in many key markets, and like many
multinational paints and coatings companies, Jotun’s
earnings were affected by the high cost and availability of
raw materials.
Closer to home, a fire in the energy central
at the company’s
binder factory in Sandefjord, Norway last
fall was a “black mark” on Jotun’s otherwise
improved HSE
performance. While there were no injuries and the binder
factory is back in operation, the fire served as a potent
reminder of fire risk. Nevertheless, it is a testament to the skill
and dedication of our workforce that Jotun was not only able
to maintain business continuity during a challenging year, but
grow the business in 2021.
FROM SUPPLIER TO SOLUTIONS PROVIDER
While the Board anticipates that both the pandemic and
raw materials prices will continue to impact Jotun in 2022,
the company continues to invest in the development of
products, tools and systems to accelerate our transition from
a paints and coatings supplier to a solutions provider. And
with growing pressure from the public and regulators to
combat climate change, Jotun remains committed to offering
products and solutions to help customers improve their
environmental performance.
The primary driver for this transition is Jotun’s Research and
Development department. Over the past decade, Jotun has
allocated significant resources to recruit skilled chemists and
invest in equipment and facilities to upgrade the company’s
global network of R&D centres. These investments have
helped us pioneer the development of low or zero solvent
coatings and other specialised products that help customers
comply with increasingly strict environmental regulations.
In some cases, these products are supported by digital
tools, standardised documentation and technologies, often
developed in collaboration with other suppliers.
SUSTAINABILITY STRATEGY
Jotun is also committed to improving our own environmental
performance. Last year, the company announced plans to
align the business with relevant UN Sustainable Development
Goals. In 2021, Jotun formalised its integrated Sustainability
Strategy, consistent with new reporting requirements. The
Board also approved and encouraged other investments,
such as a wastewater treatment facility at Jotun’s factory in
Norway and the installation of solar panels at the factory in
Nilai, Malaysia. The Board is confident that the company’s
continued focus on R&D and renewed focus on sustainability
will play a larger role in helping Jotun, and its customers,
achieve good results in a more environmentally responsible
way in the years ahead.
Chairman of the Board, Odd Gleditsch d.y.
Building a sustainable business
Board of Directors,
from left:
Bjørg Engevik Nilsen,
Einar Abrahamsen,
Odd Gleditsch d.y.
(Chairman),
Camilla Hagen Sørli,
Terje Andersen,
Nicolai A. Eger,
Jannicke Nilsson and
Per Kristian Aagaard.
72 I Jotun Group Report 2021