2011 SuStainability REpoRt - Air Products & Chemicals · • Oxygen for combustion, ... Dexter...

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Air Products’ AnyBody Concerned about Disabilities (ABCD) Diversity & Inclusion Employee Network coordinated Air Products’ support of Autism Speaks™ Light It Up Blue—an annual campaign that brings attention to autism.

Pictured: Air Products’ corporate headquarters in Allentown, Pennsylvania, U.S.A.

2011 SuStainability REpoRt

Air Products | 2011 Sustainability Report

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Forward-looking Statements

This report contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates and projections about our business and industry, management’s beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as “anticipates,” “expects,” “may,” “will,” “should,” “would,” “could,” “potential,” “continue,” “ongoing,” similar expressions and variations or negatives of these words. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management. Important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition include the risk factors discussed in our Annual Report on Form 10-K for the fiscal year ended September 30, 2010. The forward-looking statements in this report speak only as of the date of this filing. We undertake no obligation to revise or update publicly any forward-looking statement, except as required by law.

2 our Strategy

5 our profile, our performance

8 our Reporting

14 Governance, Commitments and Engagement

20 Stakeholder Engagement

25 Economic Disclosure on Management approach

27 Environmental Disclosure on Management approach

41 labor practice Disclosure on Management approach

47 Human Rights Disclosure on Management approach

49 Social Disclosure on Management approach

52 product Responsibility Disclosure on Management approach


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Our Strategy

CEO’s Message to Stakeholders: Sustainably Driving Growth, Building Our Culture of Improvement

As Air Products employees in more than 40 countries marked the 70th anniversary of their company at the end of 2010, it was a great opportunity to reflect on our resiliency. Having weathered the challenges of the recession in the prior two years, we significantly improved our competitiveness, increasing earnings per share 24 percent to $5.02*. And, we drove fiscal year 2010 sales to $9 billion, increasingly from product and technology solutions for energy, environment

and emerging markets. In many ways, our offerings and our applications expertise improve our customers’ sustainability―reducing their energy use, increasing productivity and product quality, and lowering emissions and waste. Today, about two-thirds of our R&D spending is focused on environmental and energy efficiency offerings, and we continue to bring our innovation to bear. It’s what’s enabled Air Products to achieve leading positions in:

• Hydrogen for increased volumes of clean transportation fuels as well as hydrogen fueling infrastructure, including more than 130 fueling stations in 19 countries;

• Oxygen for combustion, significantly improving efficiency and decreasing fuel consumption in metals, glass and cement manufacturing;

• Liquefied natural gas technology and equipment, enabling stranded natural gas to be transported to countries where it provides cleaner burning energy;

• Specialty gases and materials for electronics devices and solar energy production;

• Catalysts for polyurethane foam insulation that significantly improve the energy efficiency of buildings, surfactants that enable industrial cleaning at lower temperatures, and performance materials for environmentally friendly coatings and adhesives;

• Proprietary carbon capture technology for some of the largest capture and storage demonstrations projects in the world.

Air Products continues to carry these and other market solutions forward. For example, in Europe, at Vattenfall’s Schwarze Pumpe oxyfuel pilot project, Air Products is demonstrating novel CO2 capture technology targeted for power plant applications. In the U.S., we’re developing a state-of-the-art capture system to recover and purify one million tons of CO2 annually from two of our own steam methane reformers at a Port Arthur, Texas refinery for injection into enhanced oil recovery projects. As we supply our SunSource® materials that help photovoltaic manufacturers drive for grid parity, we’re bringing onstream a 15-acre solar array at our corporate headquarters that will produce two MW of electricity using panels made with our products.

These examples illustrate our environmental stewardship commitment. In 2010, we continued to focus on our 2015 energy, greenhouse gases, water and fleet/distribution targets, leveraging our Continuous Improvement tools and resources as well as our centralized Operating Service Centers to improve the efficiency of our operations as we meet our customers’ needs. During the year, we also appointed a Corporate Sustainability Manager and established several teams under our Sustainability Council accountable for goal stewardship, supplier sustainability, employee engagement, customer and trend analysis, and process integration activities, among others. We also started up a Sustainable Technologies Center, expanding our life cycle assessment capabilities and exploring new green chemistry opportunities by building on the experience and success of our MATGAS Research Center in Barcelona, Spain, which is now 10 years young.

2 Our Strategy

5 Our Profile, Our Performance

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25 Economic Disclosure on Management Approach

27 Environmental Disclosure on Management Approach

41 Labor Practice Disclosure on Management Approach

47 Human Rights Disclosure on Management Approach

49 Social Disclosure on Management Approach

52 Product Responsibility Disclosure on Management Approach

* Non-GAAP measure; see Form 10-K for reconciliation

http://www.airproducts.com/investors/~/media/Files/PDF/investors/annual-reports/air-products-ar2010-full.ashx


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1.2 Impacts, Risks and OpportunitiesOur focus on sustainability is aligned with our business strategy of serving energy, environment and emerging markets. It’s also directly aligned with the guiding values of our company: accountability, innovation, integrity, respect and protecting health, safety and the environment.

We manage our sustainability risks and opportunities across four quadrants:

• Business value – we provide innovative gases, materials and technology solutions that help solve our customers’ sustainability challenges and drive our business growth and financial performance

• Environmental stewardship – we are committed to responsibly manage our footprint, drive improvements, and set and achieve environmental goals for reducing energy consumption, greenhouse gases, waste and emissions, and water consumption

• Governance – we uphold integrity and accountability as core values in working for our stakeholders

• Social Responsibility – we aim to be a good corporate citizen, improving the quality of life for our people and the communities where they live and work

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Of course, social responsibility is a core value at Air Products. During 2010, we continued to aggressively manage employee safety, health and well-being and the process safety and environmental impact of our operations. We also made a number of important contributions to the communities where we operate throughout the world. I encourage you to review our full Global Reporting Initiative report for updates on our employee and outreach activities.

As always, thanks for your support of Air Products. Please explore our new Web site (www.airproducts.com) to learn more about us.

Sincerely,

John E. McGladeChairman, President and Chief Executive Officer

Business ValueCustomers and communities demand sustainable solutions. We have a long history of product and technology innovation to address their environmental, productivity and quality needs while driving profitable growth for our investors.

During 2010, we commemorated the 70th anniversary of Air Products under the theme, “Celebrating the Innovation of the Past and Its Promise for the Future.” Looking ahead, innovation remains an important element of our success. We have a number of initiatives that we expect to pay dividends well into the future, including energy efficiency-optimized hydrogen plants, carbon capture and purification technologies, combustion programs focused on clean energy, electronic materials for next-generation devices, and environmentally friendly performance materials.


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In November 2010, Chairman John McGlade (center) was joined by former chairmen (left to right) John Jones, Hap Wagner, Dexter Baker and Ed Donley to celebrate the 70th anniversary of Air Products. They stand near our branded Chevrolet Equinox fuel cell electronic vehicle, which combines oxygen with hydrogen to generate electricity to drive the car.

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Also, from a business value perspective, the continued growth of emerging economies and the unique environmental and energy challenges they face represent both challenges and opportunities for Air Products.

Environmental StewardshipAs a global industrial gases, materials, equipment and technology services company, our plants and operations generate an environmental footprint and consume energy and water. However, the products, equipment and market solutions we provide also enable our customers to reduce their environmental footprint and more efficiently use energy and water. On balance, we believe the benefits provided by our products and services outweigh the direct environmental impact of our operations.

We strive to operate in full compliance with all environmental regulations in the communities, states and countries where we operate. We also voluntarily disclose our emissions, environmental impacts and targets through the Carbon Disclosure Project (CDP) and other reporting protocols, and we report environmental risk to our stakeholders as required by national laws.

Building on the successful integration of sustainability into our annual budgeting process, as well as the integration of greenhouse gas considerations into our global capital expenditure process in fiscal 2010, a dedicated Process Integration team is working to more fully integrate environmental sustainability considerations into other company processes, including product and process design, mergers and acquisitions, and sourcing, as well as large-scale projects in our Tonnage Gases and Equipment and Energy businesses.

GovernanceOur sustainability management and governance are described in detail in the Governance, Commitments and Engagement section of this Report.

Social ResponsibilityAir Products is committed to being a good employer. We pay our employees competitive wages, offer competitive benefits and provide training and developmental opportunities to improve their capabilities and advance their careers. In addition, our diversity and inclusion initiatives are designed to enable our employees to reach their full potential in a culture of respect and inclusion. We also aggressively manage employee safety, health and well-being through our Total Safety process.

Air Products works to be a good neighbor in the communities where we operate and be a responsible global corporate citizen. We support local human development, educational, cultural and environmental activities through financial, product and service contributions. We also are sensitive to the impact our operations and supply chain can have on the broader world in terms of economic development and worker and human rights. Challenges and opportunities for improvement in social aspects of sustainability are to establish stronger and more proactive stakeholder engagement to be able to better meet stakeholder needs and improve opportunity and quality of life.

Our Strategy


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2.1 About Air ProductsAir Products is a leading international supplier of atmospheric, process and specialty gases; performance materials; equipment; and services serving a wide variety of industrial, energy, technology and healthcare markets. We are the world’s largest supplier of hydrogen and helium and have built leading supply positions in growth markets such as refinery hydrogen, semiconductor and flat-panel display materials, natural gas liquefaction equipment, home healthcare services, and advanced materials for high-performance, more environmentally friendly coatings and adhesives. We are recognized for our innovative culture, operational excellence and commitment to safety and the environment. We aim to develop lasting relationships with our customers and communities based on human qualities: an understanding of their needs, integrity and honesty in the way we do business, and a passion for exceeding expectations.

2.2–2.5 Global Operations Our headquarters is in Allentown, Pennsylvania, U.S.A., and we operate in over 40 countries outside the United States. We have majority or wholly owned foreign subsidiaries that operate in Canada, 17 European countries (main offices in Hersham, U.K. and Hattingen, Germany), nine Asian countries (main offices in Singapore, Hong Kong, Taipei and Shanghai) and four Latin American countries. Air Products also has interests in entities operating in Europe, Asia, Africa, the Middle East and Latin America.

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Employee Survey on Sustainability (Conducted by Employee Outreach Team)

Global Air Products employee response rate: 20 percent

• Respondents identified energy efficiency; labor force attraction, treatment and retention; and waste generation and management as priority areas of focus.

• Majority believe sustainability is part of our energy, environment and emerging market growth strategy and Responsible Care® commitment.

• 91 percent said sustainability is either “very important” or “somewhat important” to Air Products’ reputation.

• Most respondents expressed a strong interest in learning more through group activities, training and communications.

2.6 Ownership We have more than 600 production facilities worldwide, supplying merchant gases, tonnage gases, electronics and performance materials and equipment. We produce most of the products we sell; we typically do not use outsourcing as a production strategy.


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Our Profile, Our Performance

Major end markets served: petroleum refining, chemical and petrochemical manufacturing, oil and gas recovery and processing, steel, and primary metals processing and clean energy.

Electronics and Performance MaterialsOur electronic gases and materials and the related delivery equipment and services we provide enable the silicon and compound semiconductors and LCDs that power our digital world. We also supply critical materials and services to light-emitting diode (LED) and photovoltaics manufacturers. In our performance materials end markets, our expertise in surface chemistry is being put to work to develop better-performing products and eco-friendly formulations.

Major end markets served: silicon and compound semiconductors (ICs), thin-film transistor liquid crystal displays (TFT-LCDs), photovoltaic devices, LEDs, coatings, inks, adhesives, civil engineering, personal care, institutional and industrial cleaning, mining, oil field and polyurethane production.

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2.7 Business Segments and Markets We report earnings under four business segments: Merchant Gases, Tonnage Gases, Electronics and Performance Materials, and Equipment and Energy. See our Form 10-K, Item 1, Business, for details on our operating segments and end markets for our products.

Merchant GasesIndustrial and medical customers depend on our oxygen, nitrogen, argon, helium, hydrogen, and medical and specialty gases for a wide array of market applications. We supply small and large customers with liquid product, mainly delivered by tanker trucks, and smaller “packaged gas” quantities in cylinders and dewars.

Major end markets we serve: glassmaking, steel, nonferrous, oil and gas field services, pulp and paper, water systems, metal manufacturing, chemical processing, rubber and plastics, packaging, food and beverage, healthcare, medical, research and analytical, aerospace, and electronics.

Tonnage Gases, Equipment and EnergyWe supply hydrogen, carbon monoxide, synthesis gas, nitrogen and oxygen via large on-site facilities or pipeline systems to meet large-volume (“tonnage”) users’ needs. We either construct a gas plant adjacent to or near the customer’s facility or deliver product through a pipeline from a nearby location. We also design and manufacture cryogenic and gas processing equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction (LNG) and helium distribution equipment, and we are pioneering technologies to serve future industrial and energy markets through our Equipment and Energy segment.



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2.9 Significant Changes in Fiscal 2010 In February 2010, we commenced a tender offer to acquire all the outstanding common stock of Airgas, Inc. Based on a decision by the Delaware Chancery Court to uphold the Airgas poison pill, Air Products withdrew its tender offer in February 2011. In fiscal 2010, $96 million ($60.1 million after-tax, or $0.28 per share) in expense was recognized related to this proposed transaction and is included within acquisition-related costs on the consolidated income statement. Refer to our 2010 Annual Report for more information.

2.10 Awards and Recognition• Included on the Dow Jones Sustainability North America Index as one

of the best performing sustainable companies for 2010/11

• Named a Maplecroft Climate Innovation Indexes (CIIs) Leader, ranking #1 in our industry sector and #4 overall out of 350 U.S. companies evaluated for climate-related innovation and carbon management programs

• Named to the Carbon Disclosure Project S&P 500 Leadership Index for 2010

• Remained a constituent on the FTSE4Good Index Series

• Earned a rating of 100 percent on the 2011 Corporate Equality Index (CEI) and recognition as one of the Best Places to Work among the largest publicly traded and privately held U.S. employers from the Human Rights Campaign (HRC)

• Remained a constituent on Vigeo’s Ethibel Global Sustainability Index and included in Ethibel’s EXCELLENCE and PIONEER registries

2.8 Organizational Scale (fiscal 2010 year-end) Millions of dollars, except per share 2010 2009 Change

FOR ThE YEARSales $9,026 $8,256 9%Operating income 1,389 846 64%Operating income (A) 1,485 1,185 25%Net income attributable to Air Products 1,029 631 63%Capital expenditures (A) 1,298 1,475 (12%)Return on capital employed (A) 12.4 % 10.6 %Return on average shareholders’ equity (B) 19.9 % 13.3%Operating margin 15.4 % 10.3%Operating margin (A) 16.5% 14.3%

PER ShARE DOllARSDiluted earnings 4.74 2.96 60%Diluted earnings (A) 5.02 4.06 24%Dividends 1.92 1.79 7%Book value 25.94 22.68 14%

AT YEAR END Shareholders’ equity $5,547 $4,792Shares outstanding (in millions) 214 211 Shareholders 8,300 8,600Employees (C) 18,300 18,900

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• Merchant Gases

• tonnage Gases

• Electronics and performance Materials

• Equipment and Energy

• united States

• Europe

• asia • Canada/latin america/RoW

FY ‘10Business Segment

Sales

41%

32%

21%

6%

32%

39%FY ‘10

GeographicSales

21%

8%

(A) Amounts are non-GAAP measures. See pages V and VI of 2010 Annual Report for reconciliation.

(B) Calculated using income and five-quarter average Air Products shareholders’ equity from continuing operations.

(C) Includes full- and part-time employees from continuing and discontinued operations.




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3.1–3.8 About This Sustainability ReportWe have reported our sustainability performance for the past seven years, building on a previous decade of environmental, health and safety disclosures and reporting. Much of the data in this 2011 report reflect sustainability results and activities during our fiscal 2010 year. As with our prior report (published June 2010), we have followed formal GRI G3 reporting guidelines to provide stakeholders with the data and perspective to understand and evaluate our performance, impacts and opportunities. Our 2011 report was in progress when the GRI G3.1 guidelines were released; we will evaluate the new reporting guidelines for future reporting.

The scope of this 2011 report is global, including assets over which financial control is exercised – per the consolidated audited financial statements. It excludes less-than-controlling interests in joint ventures or equity affiliates. We measure and report certain environmental measures on a calendar year basis, including greenhouse gases (GHGs), Toxic Release Inventory (U.S.) on- and off-site releases, nitrogen oxides (NOx) and sulfur oxides (SOx) emissions, hazardous waste shipments, and water and energy consumption.

As much as possible, we have guided readers to additional information, including our Sustainability site on airproducts.com―where we have also included a clickable GRI Index that will take readers directly to their desired information―as well as other reports such as our annual financial reports on Form 10-K.

Questions, input and suggestions regarding this report may be directed to:

Patrick Loughlin, Vice President, EHS&Q and Sustainability Council Chair [email protected]

Julie O’Brien, Corporate Sustainability Manager [email protected]

We are committed to transparency in our reporting and continuous improvement in our sustainability management and performance.

Our cross-functional Corporate Sustainability Council was accountable for overseeing the preparation of this report, with significant data contributions provided by our Greenhouse Gases Strategy, Environmental Measures and Employee Sustainability teams, as well as other business and functional groups throughout the company. No GRI sector standard exists for our industry (industrial gases / materials); however, we have attempted to provide best possible disclosures based on the nature of our global business and the related risks and opportunities. In doing so, we have taken into consideration the information needs of:

• Current and prospective investors (as well as socially responsible investment and other sustainability organizations),

• Customers, seeking sustainable product and technology solutions and information about our sustainability policies and practices

• Current and prospective employees, looking to work for a sustainability-minded company

• Communities, wanting to understand our sustainability management and engagement efforts as a responsible corporate citizen

• Suppliers, whom we expect to abide by our Code of Conduct and who are critical to our operations

• Other stakeholders, who have an interest in our industry and operations

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Key Stakeholders

• Shareholders and potential investors

• Customers

• Current and potential employees and retirees

• Operating communities

• Suppliers

• Financial and sustainability analysts

• NGOs

• Media

• Governments and officials

3.9 Data MeasurementWe use our single-instance SAP system for environmental and social data management and to drive performance improvements.

We report key financial indicators in accordance with U.S. generally accepted accounting principles, disclosed in our financial filings.

We report, classify, investigate and communicate safety (employee and contractor injuries and near misses) and environmental incidents via our Global Environmental, Health and Safety (EH&S) Incident Tracking system. We also use a Compliance Management SAP-compatible tool for environmental compliance management. We track and report estimated calendar-year GHG emissions on an aggregated, global basis in accordance with the WRI/WBCSD GHG Protocol using Financial Control reporting boundaries.

Human resource (workforce) data are managed within SAP.

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3.10 RestatementsWe joined the SmartWaySM Transport Partnership (a collaboration between the U.S. EPA and major companies and associations) in 2009 and set preliminary emission reduction targets for 2015 of 10 percent on NOx and particulate matter and two percent on CO2 (2009 baseline). The SmartWay program changed its NOx and particulate matter calculation from 2009, so we are working with the EPA to define these changes and recalculate an equitable, year-on-year performance comparison. See EN29.

3.11 Changes from Prior ReportingOur 2011 Sustainability Report again follows GRI G3 guidelines.


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3.12 GRI Index

GRI G3 Contents (hyperlinks) Page Reported GRI G3 Contents (hyperlinks) Page Reported

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3.12 GRI Index 10 Fully

3.13 Assurance 13 Fully

Governance, Commitments and Engagement (page 14)

Sustainability Management

4.1 Governance structure 14 Fully

4.2 Chair of the Board of Directors 14 Fully

4.3 Independent and/or non-executive Directors

14 Fully

4.4 Contacting the Board of Directors 14 Fully

4.5 Compensation and performance 15 Fully

4.6 Avoiding conflicts of interest 17 Fully

4.7 Determining qualifications and expertise of Directors

17 Fully

4.8 Codes of Conduct and principles 17 Fully

Board Performance Assessment

4.9 Procedures for overseeing sustainability performance

18 Fully

4.10 Processes for evaluating the Board of Directors’ own performance

18 Fully

4.11 Precautionary Principle 18 Fully

4.12 External standards 19 Fully

4.13 Associations and memberships 19 Fully

Stakeholder Engagement (page 20)

4.14 Key stakeholders 20 Fully

4.15 Basis for identifying/selecting stakeholders

20 Fully

4.16 Stakeholder engagement and feedback

20 Fully

4.17 Learnings from stakeholder engagement

20 Fully

Our Strategy (page 2)

1.1 Message from our CEO 2 Fully

1.2 Impacts, risks and opportunities 3 Fully

Our Profile, Our Performance (page 5)

2.1 About Air Products 5 Fully

2.2 Brands, products, services 5 Fully

2.3 Operating structure 5 Fully

2.4 Corporate and regional headquarters locations

5 Fully

2.5 Countries of operation 5 Fully

2.6 Ownership 5 Fully

2.7 Business segments and markets 6 Fully

2.8 Organizational scale 7 Fully

2.9 Significant changes during fiscal 2010

7 Fully

2.10 Awards and recognition 7 Fully

Our Reporting (page 8)

3.1 Reporting period 8 Fully

3.2 Date of most recent previous report 8 Fully

3.3 Reporting cycle 8 Fully

3.4 Contacts for questions regarding the report

8 Fully

3.5 Process for defining report content 8 Fully

3.6 Boundary of the report 8 Fully

3.7 Limitations on report scope 8 Fully

3.8 Basis for reporting that can significantly affect comparability

8 Fully

3.9 Data measurement 9 Fully

3.10 Restatements 9 Fully

3.11 Changes from prior reporting 9 Fully


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3.12 GRI Index (continued)


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EN14 Strategies/plans related to biodiversity

31 Fully

EN15 IUCN Red List species in areas affected

31 Fully

EN16 Direct and indirect greenhouse gas emissions

32 Fully

EN17 Scope 3 greenhouse gas emissions 34 Fully

EN18 Initiatives to reduce greenhouse gas emissions

35 Fully

EN19 Ozone depleting substances 38 Fully

EN20 NOx, SOx and other air emissions 38 Fully

EN21 Water discharge 38 Fully

EN22 Weight of waste 38 Partially

EN23 Significant spills 39 Fully

EN24 Hazardous waste 39 Fully

EN25 Biodiversity value of water bodies and related habitats

39 Fully

EN26 Initiatives to mitigate environmental impacts

40 Fully

EN27 Products and packaging materials reclaimed

40 Fully

EN28 Significant fines and sanctions 40 Fully

EN29 Transportation impacts 40 Fully

Economic Disclosure on Management Approach (Page 25)

EC1 Economic value generated and distributed

25 Fully

EC2 Financial implications due to climate change

25 Fully

EC3 Coverage of defined benefit plan obligations

25 Fully

EC4 Significant financial assistance from government

26 Fully

EC5 Range of wage ratios 26 Partially

EC6 Spending on locally-based suppliers 26 Partially

EC7 Procedures for local hiring 26 Partially

EC8 Commercial, in-kind, pro bono engagement

26 Fully

EC9 Indirect economic impacts 26 Partially

Environmental Disclosure on Management Approach (Page 27)

EN1 Materials used 28 Fully

EN2 Recycled input materials 28 Fully

EN3 Energy use by source 28 Fully

EN5 Energy conservation and efficiency improvements

28 Fully

EN6 Initiatives related to renewable energy

28 Fully

EN7 Initiatives to reduce indirect energy consumption

28 Fully

EN8 Total water withdrawal 30 Fully

EN9 Water sources significantly affected 30 Fully

EN10 Water recycled and reused 31 Fully

EN11 Land in/adjacent to protected areas 31 Fully

EN12 Biodiversity impacts 31 Fully

EN13 Habitats protected or restored 31 Fully


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3.12 GRI Index (continued)


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SO6 Value of contributions to political parties

51 Partially

SO7 Anti-competitive behavior 51 Fully

SO8 Compliance 51 Fully

Product Responsibility Disclosure on Management Approach (Page 52)

PR1 Assessment of health and safety 52 Fully

PR2 Noncompliance with regulations and codes during life cycle

53 Fully

PR3 Product and service information per procedures

53 Fully

PR4 Incidents of labeling noncompliance 53 Fully

PR5 Practices related to customer satisfaction

53 Partially

PR6 Marketing and adherence to laws and standards

53 Fully

PR7 Incidents of noncompliance with marketing-related regulations

53 Fully

PR8 Customer privacy 54 Fully

PR9 Noncompliance with regulations for use of products

54 Fully

labor Practice Disclosure on Management Approach (Page 41)

LA1 Workforce by employment type 42 Partially

LA7 Rates of injury and work-related fatalities

43 Partially

LA8 Global health and wellness programs 43 Fully

LA10 Employee training 44 Fully

LA11 Skills and lifelong learning for retirees

45 Fully

LA12 Performance and career development reviews

45 Fully

LA13 Diversity and inclusion 46 Partially

human Rights Disclosure on Management Approach (Page 47)

HR1 Acquisition screening 47 Fully

HR2 Screening of suppliers and contractors

47 Partially

HR3 Employee training 47 Fully

Fundamental Rights

HR4 Incidents of discrimination and actions taken

47 Fully

HR5 Right to exercise freedom of association

47 Fully

HR6 Incidents of child labor 47 Fully

HR7 Risk for incidents of forced labor 47 Fully

HR8 Security 48 Fully

HR9 Violations involving rights of indigenous people

47 Fully

Social Disclosure on Management Approach (Page 49)

SO1 Community engagement 49 Fully

SO2 Risk assessment for corruption 50 Fully

SO3 Training 50 Fully

SO4 Governance and actions 50 Fully

SO5 Public policy 51 Fully


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3.13 AssuranceAir Products’ 2011 Sustainability Report was GRI-checked and affirmed as Application Level B. We did not seek external assurance for this Report.


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4.1–4.4 Sustainability Management

Board of DirectorsIn accordance with the New York Stock Exchange corporate governance standards, 10 independent directors—including a presiding director—and Chairman, President and Chief Executive Officer (CEO) John McGlade constitute the highest level of corporate governance for sustainability matters at Air Products.

Following an in-depth review of alternative leadership structures in 2008, the Board determined that Mr. McGlade should serve as Chairman. The Board decided to combine the roles because it has a high level of confidence in Mr. McGlade’s leadership and willingness to work closely and transparently with the independent directors, and believes the company is best served at this time by unified leadership of operations and oversight of the company, which ensures that the Board and management act with common purpose. The Board also believes that maintaining equality among the independent directors fosters collegiality and openness among directors, which leads to probing discussions, robust debate, and open exchange of ideas. Finally, the Board is satisfied that the independent directors have ample opportunities to execute their responsibilities independently through numerous executive sessions held throughout the year at both the Board and Committee level, substantial interactions with members of the management team other than the CEO, and the leadership of the Presiding Director and the Committee chairs.

The Board has adopted Corporate Governance Guidelines. The Board is divided into three classes, as nearly equal in number as possible, with staggered terms. One class is elected at the annual meeting each year, so shareowners elect approximately one-third of the directors for a term that usually expires at the third succeeding annual meeting.

There are five standing committees that operate under written charters approved by the full Board. During our fiscal year ending September 30, 2010, there were 15 meetings of our Board. Board and committee attendance averaged 98 percent for the Board as a whole, and no director attended less than 75 percent of the combined total of meetings of the Board and the committees on which s/he was serving.

Under its charter, the Environmental, Safety and Public Policy Committee (ESPP) monitors and reports to the Board on developments in sustainability, including areas such as environmental performance and compliance, climate change, safety, corporate security and crisis management, diversity and inclusion, community relations, and corporate and foundation philanthropic programs and charitable contributions.

CEO Accountability and Management StructureUnder the CEO’s direction, we manage sustainability through an interdisciplinary approach. Air Products’ Sustainability Council was chartered by and reports to the CEO. It is chaired by the Vice President, Environment, Health, Safety & Quality (EHS&Q) and includes the executive sponsorship of the Senior Vice President, Tonnage Gases, Energy and Equipment, with membership comprising senior executives and subject matter experts across the company’s businesses and functions. The Council steers the company’s sustainability strategy―working with the businesses to develop and operationalize it―and oversees the process for measuring Air Products’ footprint and setting and achieving reduction targets. The Council provides updates to the Environmental, Safety and Public Policy (ESPP) Committee of the Board and Air Products’ Corporate Executive Committee (CEC), the company’s most senior executives, semiannually.

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Governance, Commitments and Engagement

4.5 Compensation and Performance

Board of DirectorsThe Corporate Governance and Nominating Committee of the Board recommends Board compensation for approval by the full Board. An independent compensation consulting firm provides annual competitive assessments of director compensation. The compensation program for independent directors is designed to build a significant equity interest in Air Products, aligning the Board’s personal financial interests with those of our shareholders. As such, a significant portion of directors’ total compensation is paid in Air Products stock equivalents.

Named Executive OfficersThe Management Development & Compensation Committee of the Board retains an external compensation consultant to provide independent advice, information and analysis on executive

Additional teams working under the oversight of the Sustainability Council include:

Team Focus

Environmental Stewardship

Greenhouse Gases Strategy Team

Policy development, footprint analysis, and goal stewardship

Water Team* Water consumption analysis and goal stewardship

Social Responsibility

Employee Outreach Team* Employee engagement and recognition

External Stakeholders Team* Outreach and reputation

Social Measures Team* Human Resources and Corporate Relations metrics

Governance

Energy & Materials Sustainability Center of Excellence*

Supplier sustainability programs

Business Value

Market Excellence Team Customer and sustainability trend analysis, brand management

Sustainability in Business Team*

Operationalizing sustainability for growth

Sustainable Technologies Center*

Life cycle assessment and green chemistry

Cross-Functional

Process Integration Team* Integrating sustainability into company processes

*Established 2010

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Air Products is celebrating the 10-year anniversary of its joint venture, MATGAS, a strategic alliance between Air Products, the Spanish National Research Council (CSIC) and the Autonomous University of Barcelona (UAB). A center of excellence in material science and gas applications, MATGAS has set global benchmarks studying and developing technologies focused on greener energy solutions, including CO2 capture and application, waste treatment and alternative energies such as hydrogen, by combining modeling and experimental approaches. During 2010, Air Products launched its Sustainable Technologies Center (STC), based at its corporate headquarters in Allentown, Pennsylvania, to expand the use of life cycle analysis (LCA) tools and serve as a conduit for green chemistry opportunities.


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Recognition and RewardsAir Products honors outstanding employee achievements in safety, environmental performance and sustainability via its biennial EH&S and Sustainability Leadership Awards.

compensation. To assess competitiveness, the Committee benchmarks executive compensation of industrial companies with revenues in the $6–$12 billion range (Market Reference Group). Target Executive Officer compensation approximates the median of this group.

Executive incentive compensation (annual and long-term incentive awards) is structured to reward performance that will increase the value of our shareholders’ long-term investment through disciplined capital investment, sustainable growth and superior returns. In addition, some compensation components provide flexibility to recognize nonfinancial achievements or reduce compensation where nonfinancial objectives―including sustainability, safety, diversity and ethical conduct―are not met.

Detailed information about director and Executive Officer compensation is available in our most recent Proxy Statement.

Employee CompensationWe use compensation programs to ensure employee and manager alignment around our strategic objectives, including sustainability objectives.

Our compensation programs include base pay and variable pay to more directly reward and recognize eligible employees for achieving business and individual results.

Global Variable Pay was introduced in fiscal 2010, with operating margin and earnings per share growth as the primary Company Performance measures. In addition, the CEO has the discretion to take nonfinancial factors, such as diversity, environment, safety and continuous improvement, into account and adjust final payout factors by up to +/- 20 points based on employees’ performance in these sustainability-related areas.

Sang Lee (left), process engineering manager in our Generated Gases business, receives the Chairman’s Award for Excellence for his nitrogen and oxygen adsorption-based air separation innovations. The honor includes cash and stock totaling $75,000 and a replica of a steel and bronze sculpture that sits at corporate headquarters with the Latin title, Caelum Aratro Findimus, meaning “We Do the Impossible.”


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4.6–4.7 Board of Directors’ Code of Conduct and Governance GuidelinesThe Board’s Code of Conduct specifically addresses the avoidance of conflicts of interest. Its Corporate Governance Guidelines include processes for determining directors’ qualifications and reviewing performance.

4.8 Codes of Conduct and PrinciplesThe Board’s Code of Conduct is intended to help foster the highest ethical standards, integrity and accountability; focus the Board and each director on areas of potential ethical risk and conflicts of interest; provide guidance to directors to help them recognize and deal with ethical issues; and establish reporting mechanisms.

All employees of Air Products are required to comply with Our Commitment to Integrity: Code of Conduct for Air Products and Its Companies. We enforce a strict nonretaliation policy and make a variety of options available, where permitted by local regulations, to anonymously report suspected violations, including our toll-free IntegrityLine and online reporting (both now in local language). The reporting lines and Web pages also address European Data Privacy concerns.

Employee Code of ConductPlans are under way to refresh our Code of Conduct during 2011, including updates to reflect recent changes in global law and emerging risk topics. Employee newsletters, videos and intranet sites provide in-depth communication on various ethics and compliance topics. Employees are reminded during team meetings and leadership presentations that Air Products values doing business with integrity, and employees are expected to reinforce this commitment during their daily work, including reporting violations or concerns as allowed by local law.

Commit to Integrity: Managing Company Information

We are merging three complementary projects―Data Privacy, Records Management and Intellectual Asset Protection― into a single, focused initiative, Information Risk Management, or IRM, managed by our Corporate Risk Office. The initiative includes:

• Organizing cross-functional, senior management governance and establishing an organizational model of Information Owners, Leads and Managers.

• Creating processes for categorizing and classifying “information that matters,” including Business Records and intellectual assets that represent our most valuable and sensitive information.

• Working closely with colleagues in our businesses and functions to deploy global, standardized approaches for managing information using a combination of our people, work processes and enabling technology.


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4.9–4.10 Board Performance Assessment Led by the Corporate Governance and Nominating Committee, the full Board assesses its performance annually, affording an opportunity to identify process improvements and increase directors’ engagement. In addition, a Board member’s attendance, diligence and contributions are considered each time s/he is recommended for reelection by the shareholders.

The Governance Committee also establishes and oversees processes by which Board committees evaluate their performance vis-à-vis their charter responsibilities.

4.11 Precautionary PrincipleRisk management is an integral part of our operations―from design and construction, through start-up and production, to distribution and delivery of our products. We support the intent of the Precautionary Principle with respect to risk management and use a formal program to identify potential impacts and develop action plans to mitigate those impacts.

Across our operational planning, corporate risk management, and new product and process development activities, for example, subject matter experts conduct risk reviews to identify and address potential business, safety, health and environmental impacts. R&D projects must pass through risk assessment gates before the projects may continue. Via our newly established Sustainable Technologies Center (STC), we are expanding our capability to conduct life cycle assessments to quantify the environmental “footprint” of select products and technologies for comparison to new and competitive offerings.

Our risk assessment programs were successfully audited and validated in the U.S. by a third party under the American Chemistry Council’s Responsible Care Management System® certification program. We have continued to implement these codes in our product development and operations. During 2010, our work continued on the International Council of Chemical Association’s (ICCA) Global Product Strategy, which is aligned with the United Nations Strategic Approach to International Chemicals Management as well as the ACC’s Responsible Care. We provide extensive information on the safe use and handling of our products through targeted customer training and broad access to Safety Data Sheets (SDSs), product stewardship summaries and other materials on our Web site.

Our Commitment to Integrity by the Numbers During 2010, 225 allegations of Code of Conduct violations were reported globally; 39 of them were reported through Air Products’ global, third party-managed IntegrityLine/IntegrityOnline tools. When reports are received, internally or through the vendor services, they are routed for appropriate follow-up by subject matter experts, and we do not tolerate retaliation or retribution of any kind.

Ninety-five percent of the total global workforce has completed mandatory Code of Conduct training. In addition, we have continued to expand our comprehensive Commit to Integrity ethics curriculum, through which employees are required to take specific, detailed training based on their roles and responsibilities. Of required employees, 96 percent have completed Foreign Corrupt Practices Act (FCPA)/Anti-bribery, 91 percent have completed Global Competition Law, and 87 percent have completed the most recently added course, Global Export Controls. Nearly 8,900 employees have taken Information Security training, and 1,760 European employees have taken Data Privacy training, with further global rollout of that course planned for 2011.

We are introducing several new learning opportunities in 2011, including Managing Concerns, a course to help leadership respond when employees ask questions about ethics and compliance issues or report violations. Content related to the UK Anti-bribery Act, Information Management and Social Media also will be added. Likewise, new and updated policies, standards and guidelines for Governance are being developed. Supporting tools and technology to enhance compliance are being further refined.

In addition, in early 2011, 4,900 employees, based on their roles and responsibilities, were certified on their understanding of and compliance with the Code of Conduct. All new hires, as well as some interns, co-ops and other groups, are both trained and certified.

• Code of Conduct violation allegations in 2010 down 31 percent from prior year

• 95 percent of Air Products employees have completed Code of Conduct training


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Examples of Air Products’ Sustainability and Industry Association/Advocacy Memberships

• AIChE® Center for Sustainable Technology Practices

• Alternative Fuels Renewable Energies Council

• ACC’s Responsible Care® initiative

• Association of International Chemical Manufacturers (China)

• Business Environmental Leadership Council, Pew Center on Global Climate Change

• Carbon Capture and Storage Association (U.K.)

• Carbon Disclosure Project

• Chemical Industries Association (U.K.)

• Compressed Gas Association

• Conference Board

• Environmental Protection Agency (EPA) Climate Leaders® (U.S.)

• EPA and Department of Energy ENERGY STAR program

• European Industrial Gases Association

• Initiative for Global Environmental Leadership

• Integrated CO2 Network (Canada)

• MATGAS

• National Hydrogen Association

• National Petrochemical and Refiners Association

• Operations Leadership Exchange

• Red Española de Análisis de Ciclo de Vida

• SEMI®

• Sustainability 50

• Xarxa Catalana d’Anàlisi del Cicle de Vida

4.13 Associations and MembershipsAir Products is active in a number of sustainability-related industry and advocacy associations.

At Air Products’ Growth Conference, part of our Collaborating for Growth series, engineering, technology and operations com-munities gathered with business leaders to discuss sustainability-related opportunities.

4.12 External Standards• Air Products has incorporated the Responsible Care requirements of

the ACC into the company’s global Environmental, Health and Safety (EH&S) Management System. This has enabled us to meet ACC’s mandatory third-party certification requirements and certify 15 facilities in the U.S. and nine in Taiwan.

• With RCMS requirements built into our EH&S Management System, we believe our system is consistent with the requirements of ISO 14001. However, based on customers’ needs, we also have obtained ISO 14001 certification at nine facilities.

• Because improving product quality, service, and overall value to customers is at the heart of our strategy, we have adopted ISO 9000 as our model for quality assurance and obtained multiple ISO 9001 certifications.


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4.14–4.15 Key StakeholdersWe believe active stakeholder engagement is a critical driver of performance and our continued improvement and success.

Key stakeholders include:

• Shareholders and potential investors

• Customers

• Current and potential employees and retirees

• Communities where we live and operate

• Suppliers

• Governments and regulators

• Others, including financial and sustainability analysts, NGOs, media and industry and sustainability organizations

We strive for dialogue that builds shared understanding with these stakehold-ers, whose input informs and whom we impact by our decisions and actions.

During 2010, members of our Corporate Sustainability Council and Stakeholder Outreach Team assessed and segmented these stakeholders into 10 categories, evaluating their potential interest and engagement levels, priority issues and potential relationships with the company. This led to the development of a materiality matrix that is being used to prioritize our sustainability efforts going forward. In addition, we began reaching out to stakeholders locally and on a national level to evaluate their interest in engaging with us on sustainability opportunities and issues. We plan to build on this initial work in 2011 and beyond.

4.16– 4.17 Stakeholder Engagement and Feedback

Shareholders and Potential InvestorsDuring 2010, our Investor Relations team:

• Visited investors in 10 cities around the world and hosted investor/analyst meetings at five Air Products sites globally

• Attended 14 sell-side conferences with presentations and small group or one-on-one meetings

• Held quarterly conference calls and follow-up calls to discuss financial performance

A substantial portion of time with investors this past year was spent explaining the strategic logic of the potential Airgas acquisition and providing updates on the process. Key areas of base business focus were the restructuring and recovery in Electronics, new global Tonnage project opportunities, with a particular focus on China, and the continued manufacturing recovery driving improved Merchant loadings and margins. Investors were interested in our progress toward our 17 percent margin goal.

We continued to respond to requests for information from socially responsible investment firms and remain in good standing on several indices.

CustomersOur Global Business Support Services (GBSS) organization includes four centralized Customer Service Centers in our major operating locations: Cornella, Spain; Allentown, Pennsylvania (USA); Kuala Lumpur, Malaysia; and Shanghai, China. The Customer Service teams work directly with our customers, our supply chain and our commercial teams to ensure a superior customer experience.

We engage our global customers in a variety of ways. Across our businesses, our sales and customer service representatives use our Customer Complaint process to log complaints, which are then tracked until resolved. We measure the number of complaints recorded, cycle time to resolve with the customer, and time to complete our internal assessment and close the complaint.

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Paul Eckley (center) of State Farm, Air Products’ largest shareholder, meets with CEO John McGlade (left) and CFO Paul Huck (right) to share expectations and discuss the company’s long-term focus.


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Stakeholder Engagement

Specific customer engagement activities vary by business and market and include:

• Feedback surveys (both company- and third party-administered) in our Merchant and Performance Materials segments, which are used to drive changes or improvements in product and service offerings.

• Focused account management programs in our Electronics business, including quarterly scorecards by which customers rate our service levels and product performance.

• More intimate “voice of the customer” interviews to identify and document any unfilled product or service needs for customers in our Tonnage Gases, Equipment and Energy segment.

• In webcasts with employees, some of our executives regularly include customer interviews to provide direct “voice of the customer” feedback on our service levels, including what’s going well and areas for improvement.

• Surveys of customer-facing employees to understand sustainability drivers and product and information needs. Feedback from customers through this survey indicated a continued need for Air Products’ support to address their energy efficiency and greenhouse gas reductions while boosting productivity.

EmployeesOur goal is to provide a work environment of inclusion and respect where employees can openly contribute their ideas and suggestions, ask questions and voice their concerns. Communication and engagement channels include:

• Our Global Diversity & Inclusion Council (GDIC), which leads Air Products’ D&I strategy as implemented by three Local Diversity & Inclusion Councils (LDICs) for the Americas, Asia and Europe; 18 Diversity & Inclusion Leadership Teams, spanning our global businesses and functions; and seven Employee Network Groups.

• Surveys, including an Employee Value Proposition survey to better understand our people’s perceptions of and experiences in working at Air Products, and a sustainability survey to understand employees’ perspectives and shape engagement efforts and communications. As a result of the sustainability survey, we are increasing sustainability communications, broadening training and expanding employee involvement.

• At least quarterly Leadership Communications sessions between managers and their teams to build understanding and mobilize around strategic initiatives.

• More than 15 “Ask Management” Web sites, providing an anonymous, online forum for any employee to pose questions to the CEO and other senior executives.

• Approximately 40 executive town meetings and webcasts annually, including the ability to submit questions in advance and during presentations, including via our anonymous WebCast tool.

• Global Employee Mentoring Program: following a successful pilot last year, this program is now pairing mentors and mentees throughout the world in co-learning partnerships.

• CorpNEWS, our online employee newsletter published three times per week, providing business stories and general interest information; enables employees to submit content, rate stories and provide feedback.

• Our corporate intranet, including a dedicated portal on Sustainability to share knowledge and collaborate.

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New and Improved airproducts.com

The new airproducts.com strives to provide relevant information and services that significantly improve our customers’ operations.


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Employee Networks

Colleagues who share an innate characteristic such as race, gender, background, or life experience and come together to support each other, the company and their community:

• 4AP (All Asian Americans at Air Products)

• ABCD (AnyBody Concerned about Disabilities)

• EDEN (Ethnically Diverse Employee Network)

• GLEE (Gay and Lesbian Empowered Employees)

• HOLA (Hispanic Organization of Latinos and Amigos)

• Parents Association

• Women In Business

In keeping with our support for education in our communities, Air Products HOLA Ambassadors donate to Valley Youth House, which helps high-achieving young people from difficult life and family circumstances continue on to higher education.

Members of Air Products’ Asia, Europe and Americas D&I Councils.


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Recruits• Via our online Career Center, prospective employees can search open

positions that match their interests, submit resumes and manage their profiles.

• We recruit students into our Career Development Program (CDP) from a variety of strong academic institutions around the world. The CDP develops participants’ skills and interests through a rotation of three different assignments (lasting 10 to 12 months each) during the first two to three years of employment. Founded in 1959, Air Products’ CDP has seen more than 2,500 graduates and is believed to be among the longest-running programs of its kind.

• Our undergraduate co-op/internship program in the U.S. also has been in place for over 50 years. We have successful internship programs focused at the masters (MBA) and doctorate (Ph.D.) levels as well. Typically, more than 80 percent of CDP participants are former interns or co-ops.

• Sustainability and community outreach are integral components of our new-hire orientation program.

RetireesAir Products has more than 1,500 retirees across the U.S. The Air Products Retirees association (AirPRO) is open to retirees and former employees with more than 20 years of service. Engagement programs include quarterly general meetings, social activities, recreational and travel opportunities, and a Web site and newsletter. Also affiliated with AirPRO is Air Products (Retiree) Volunteers (APV), an organization that matches our retiree volunteers with needs in their local communities.

CommunitiesWe actively engage the communities where we operate and our employees live and work in a number of ways, including:

• Building relationships with and providing educational training about our facilities and products to local authorities and emergency response personnel.

• Providing outreach training for key operations managers at major facilities to engage their host communities.

• Meeting with legislators and officials on permitting, regulatory and other issues.

• Participating in community activities and responding to local grant and sponsorship requests.

• Organizing and participating in Community Advisory Panels and similar community groups around our plants.

• Contributing more than $6 million in cash and product donations to community organizations, schools and municipalities in approximately 15 countries in 2010. Our support priorities are in education, health and human services, community and economic development, arts and culture, and environment and safety.

• Having a corporate policy that allows employees to volunteer during work hours with the support of their managers. Thousands of Air Products employees volunteer hundreds of thousands of hours annually, both as individuals and as groups through dedicated “Day of Caring” events.

• Supporting the United Way Campaign for the Common Good as one of 125 Global Corporate Leaders. We raised a total of nearly $2 million in 2010.

• At our corporate headquarters, we have worked with local sustainability leaders to establish the Lehigh Valley Sustainability Network, providing a cross-representative forum on sustainability issues, including energy conservation, water use, local biodiversity, regional transportation and more.

For more information, see the Society section of our Report.

Via Air Products’ National Backpack Collection Drive, employees at 51 sites across the U.S. and Canada collected nearly 2,100 backpacks, which were donated to local schools to help underprivileged stud-ents return to school well equipped to start the new year.


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SuppliersWe purchase more than $6 billion in materials, equipment, power and services annually from over 30,000 suppliers and service providers worldwide. We want to work with vendors who share in our commitment to ethical business practices and who can help us deliver value to our customers. Suppliers are expected to comply with our Code of Conduct in business dealings with us. We will survey our top suppliers on their sustainability commitments in 2011 while soliciting their ideas to enhance our sustainability efforts. Detailed information about our procurement and supplier engagement, feedback and rating mechanisms is available on our Web site.

Governments and RegulatorsWe strive for open dialogue and strong relationships with the local, regional and global government entities where we operate, and in many cases, we are called upon to provide expertise and input. Many of our employees are involved in reviewing existing and proposed legislation that is relevant to our company and are working to ensure that it takes the needs of Air Products and our customers and other stakeholders into account.

Other StakeholdersOther stakeholders, including those identified in 4.14, are engaged through various channels, including meetings, conferences, our Sustainability Web site, reporting activities, and other means.

Building Skills

Raising skills standards is a key focus for Air Products. We are involved in numerous projects and initiatives across the globe, including:

SkillsUSAFor the past five years, Air Products employees around the country have volunteered at schools near our facilities, served on technical committees for the SkillsUSA Championships, and participated on task forces and boards of state and local SkillsUSA chapters. The strength of partnership culminated with our own John McGlade being named SkillsUSA’s inaugural CEO Champion of the Year in October 2010.

These deep relationships at the grassroots, local level are complemented by Air Products’ financial support at the corporate level, as we contribute to SkillsUSA’s Professional Development Program and Alumni & Friends Association.

WorldSkillsAir Products is an official sponsor of 2011 WorldSkills, the largest international skills competition, with over 1,000 competitors from 50 nations competing in 45 disciplines.

Competitors hoping to be recognized as young leaders in the auto body repair, construction, metalworks, jewelry, plumbing and heating, and sheet metal technology categories will use Air Products’ welding gases to demonstrate their chosen skill.

Over the past three years, Oxygen Without Borders, Air Products’ healthcare- related corporate social responsibility program in Spain, has donated more than 50 concentrators and 15 CPAP machines to hospitals and medical clinics in Europe, South America, Africa and the Middle East to treat patients with a variety of respiratory conditions and infections. The Spanish Federation of Healthcare Technology Companies recognized these contributions in October 2010.


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Air Products operates and serves customers in more than 40 countries. We have grown our businesses at levels greater than most underlying industrial production measures, and global macro trends―driven by societal demands, legislative changes and demographic shifts―are providing even more opportunities to apply our solutions to energy, environmental and emerging market needs.

We aim to:

• Maintain our strong operating and financial position and enable our investors to share directly in the performance of the company

• Deliver unique solutions to processing and environmental challenges

• Improve customers’ sustainability performance through internal applications expertise and external collaboration and partnerships

• Provide competitive employee compensation and benefits and other indirect contributions through taxes and investments in plants and projects

• Contribute to the quality of our communities through donations of time, resources and funds

In fiscal 2010, Air Products emerged from the recession with strong volume growth and productivity as the economy continued to improve. Completion of our global cost reduction plans and Electronics business restructuring, as well as the continued use of our SAP system and shared services during the year, also lowered costs and contributed to results.

EC1 Economic Value Generated and DistributedFiscal 2010 revenues totaled $9,026 million (vs. $8,256 million in fiscal 2009). Additional information is available in our Form 10-K, Item 8, Financial Statements and Supplementary Data.

EC2 Financial Implications Due to Climate ChangeSee our Form 10-K, Item1A, Risk Factors, and most recent Carbon Disclosure Project submission for comprehensive disclosures on the risks and opportunities related to climate change.

EC3 Coverage of Defined Benefit Plan ObligationsWe sponsor defined benefit pension plans and defined contribution plans that cover a substantial portion of our global employees, with the largest plans being in the U.S. and the U.K. The U.S. Salaried Pension Plan and the U.K. Pension Plans are closed to new entrants. The largest plans are funded through a pension trust separate from the company’s assets; some of the other plans are insured through insurance contracts. We also maintain a nonqualified pension plan in the U.S. where benefits are paid from the company’s general assets. Pension liabilities related to the defined benefit plans are determined using actuarial models.

In 2010, we used a measurement date of 30 September for all defined benefit plans. For fiscal 2010, the fair market value of pension plan assets for our defined benefit plans as of the measurement date increased to $2,271.6 million from $2,251 million in 2009. The projected benefit obligation for these plans as of the measurement date was $3,753.6 million and $3,386 million in 2010 and 2009, respectively. The increase in the obligation was due principally to a decrease in the weighted average discount rate used to measure future benefit obligations to 5.0 percent from 5.6 percent.

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Pension Funding Pension funding includes both contributions to funded plans and benefit payments under unfunded plans. With respect to funded plans, our funding policy is that contributions, combined with appreciation and earnings, will be sufficient to pay benefits without creating unnecessary surpluses.

In addition, we make contributions to satisfy all legal funding requirements while managing our ability to benefit from tax deductions attributable to plan contributions. We analyze the liabilities and demographics of each plan, which help guide the level of contributions. During 2010 and 2009, our cash contributions to funded plans and benefit payments under unfunded plans were $406.6 million and $184.8 million, respectively. The majority of the cash contributions were voluntary.

EC4 Significant Financial Assistance from GovernmentWe disclose this information in accordance with U.S. generally accepted accounting principles. See our Form 10-K, which includes significant detail about our income tax liability (see Item 8, Financial Statements and Supplementary Data, note 22).

EC5 Range of Wage Ratios To attract and keep talented employees, Air Products benchmarks pay practices in the markets where we compete for talent to ensure we offer a competitive compensation package. Total pay (cash compensation) includes two main components:

• Base pay (salary): paid on a monthly, weekly, or biweekly basis; primarily determined by job responsibility level, market competitiveness, individual competencies and performance.

• Variable pay (incentive pay introduced in 2009 for the majority of employees): cash award based on end-of-year company results and individual performance.

EC6 Spending on locally Based SuppliersInformation about our procurement policies and practices is available on our Supplier Information Web site.

Economic Disclosure on Management Approach

EC7 Procedures for local hiringWhen external candidates are sought for openings, we typically recruit and hire from the local labor markets. Selections are based on evaluations of individuals’ skills, knowledge and experience as they relate to the needs of each vacancy.

EC8 Commercial, In-kind, or Pro Bono EngagementOur commitment to corporate citizenship is about striving to improve the quality of life in our operating communities, working in partnership with local organizations. Our support priorities are:

• Education • Health and Human Services

• Arts and Culture • Environment and Safety

• Community and Economic Development

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• Education

• Health and Human Services

• Community and Economic Development

• Arts and Culture

• Environment and Safety

2009 Community

Support

45%

22%

8%

10%

15%

During 2010:• Air Products contributed over $6 million in cash and product

donations to community organizations, schools and municipalities in approximately 15 countries.

• As a National Corporate Leader, our U.S. employees, retirees and The Air Products Foundation donated nearly $2 million to the United Way.

EC9 Indirect Economic ImpactsWhile we have indirect economic impacts on local markets through wages, taxes, hiring, procurement, community involvement and financial contributions and the like, we do not attempt to aggregate indirect economic impacts for our more than 600 production locations throughout the world.


http://www.airproducts.com/company/supplier-information.aspx


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Environmental Disclosure on Management Approach

Our Global Eh&S PolicyAs both a responsibility and a condition of employment, every employee is required to understand and adhere to our global EH&S policy. The highest level of accountability for environmental, health and safety rests with the Environmental, Safety and Public Policy Committee of our Board of Directors.

Eh&S Management SystemApplying to 100 percent of our locations worldwide, our EH&S Management System includes controls driven by our own corporate policies and government regulations and supports the principles promoted by Responsible Care, Ceres and international standards such as ISO 14001 and OHSAS 18001.

Compliance and AuditOur Compliance Management (CM) system includes processes and programs to identify internal and regulatory EH&S requirements, develop and implement compliance programs, and audit facility performance to identify and correct gaps. Following a three-year implementation, it is now the common, global platform we use to manage EH&S permitting and task compliance.

Our audit process is conducted by a full-time staff of auditors, each with more than 20 years of EH&S functional and operational experience in chemical and industrial gas production plants. Auditing more than 30 plants annually, this group is independent from the facility being audited and reports directly to the Vice President, EHS&Q.

Environmental, health and Safety (Eh&S) Training Our employees around the world are enrolled in our online training management and delivery tool, LSO. LSO enables us to manage EH&S training by assigning courses that are custom-tailored to the employee’s job assignment. We have more than 500 EH&S course offerings, more than 350 of which are available as Web-based training. During 2010, we expanded our global course offerings to over 100 courses in non-English, with 80 of those in our 13 core languages. Compliance is monitored within the system.

The most senior position with responsibility for environmental aspects is the Vice President, EHS&Q and Chair of the Corporate Sustainability Council.

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> Environmental Performance Indicators





Air Products’ Environmental Goals

Greenhouse GasesReduce by 7% indexed against production by 2015 from 2007 baseline

EnergyReduce consumption on an intensity basis by 7% by 2015 for air separation units (ASUs) and hydrogen/carbon monoxide/synthesis gas (HyCO) plants from 2007 baseline

WaterReduce consumption 10% globally by 2015 from 2009 baseline

hazardous WasteReduce U.S. / Europe shipments 20% by end of 2011 from 2005 baseline

Toxic Release Inventory (U.S.)Maintain on- and off-site releases to air, water and land at current low levels

Distribution / Fleet Reduce NOx/particulate matter by 10 percent and CO2 by two percent from 2009


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EN1 Materials Use Air is the primary raw material in manufacturing industrial gases such as oxygen, nitrogen and argon. Natural gas is an energy source at a number of our Merchant Gases production facilities and is a principal raw material for hydrogen, carbon monoxide and synthesis gas production in our Tonnage Gases business. Electric power is the largest cost component in the production of atmospheric gases. Air Products purchased 17,300,000 MWh of electricity during fiscal 2010.

Toluene, ammonia, and hydrogen are the principal raw materials for our Polyurethane Intermediates business (part of our Tonnage Gases segment), which we purchase from various suppliers under multiyear contracts.

In our Electronics and Performance Materials businesses, we use a variety of raw materials, including alcohols, ethylene amines, cyclohexylamine, acrylonitriles, and glycols. For our Equipment and Energy segment, steel, aluminum and capital equipment subcomponents are the primary materials. Coal, petroleum coke and natural gas are the largest cost components in the production of energy.

EN2 Recycled Input MaterialsThe vast majority of our production does not use material inputs; for our operations that do, the amount of recycled input used is very small.

EN3 Energy Use by Source Our energy consumption for the year was as follows:

Fuel 2010 MWh 2009 MWh 2010 GJ 2009 GJNatural Gas (and Refinery Off-gas) 76,400,000 68,900,000 275,040,000 248,040,000

Electricity 17,300,000 16,000,000 62,280,000 57,600,000

Coal 800,000 60,000 2,880,000 216,000

Petcoke 270,000 3,000 972,000 10,800

Diesel Fuel 410,000 460,000 1,476,000 1,656,000

Gasoline 13,000 2,400 46,800 8,640

Tire Derived Fuel 79,000 300 284,400 1,080

Jet Fuel 5,700 13,000 20,520 46,800

Biomass 160,000 5,600* 576,000 20,160

*Not referenced in 2010 report

EN5 and EN7 Energy Savings Against a calendar 2007 baseline, our 2015 intensity-based energy efficiency goals represent approximately 80 percent of our total global energy requirements. They include a seven percent reduction in energy consumption at our large air separation units (ASUs) per quantity of gas produced, and a seven percent reduction in fuel and feedstock consumption per quantity of hydrogen produced at our hydrogen, carbon monoxide and snythesis gas (HyCO) plants.

For the third consecutive year, we reduced our energy intensity for the production of our HyCO products. In 2010, this positive result was due to the start-up of a new world-scale, ultra-efficient hydrogen plant; balancing production to load our most energy efficient plants; and use of continuous improvement tools to incrementally increase energy efficiency. As we continue with these actions and others, we will continue to track towards our 2015 target for this important metric.


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Energy Intensity Results

1.021.011.00.99.98.97.96.95.94.93.92.91.90

CY07 CY08 CY09 CY10 CY11 CY12 CY13 CY14 CY15


• ASU • HyCO • Goal1.000 1.0021.000

.994 0.996

0.930

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0.981

.994

0.986

Energy Conservation and Efficiency Improvements (Direct and Indirect)Consistent with our seven percent intensity-based energy reduction goals, we continue to invest in efficiency improvements in existing facilities and new, high-efficiency production facilities. Over the course of our goal period (2007-2015), we expect to achieve an energy reduction of 12 million MM Btu of natural gas and 875 million kWh/year of electricity (at 2007 operating rates).

Our ASU energy efficiency also improved from 2009, but overall 2008–2010 results lag behind our target projections, as the effects of the global recession adversely impacted our production volumes and plant efficiencies. We anticipate accelerated efficiency improvements beginning in 2011, as the global economy continues to recover and we improve our asset loading as well as optimize performance through our centralized Operating Service Centers.

Other Headquarters Reductions

Over the past 18 months, we have decreased total energy consumed per degree day by 10 percent.

Over the last four fiscal years, we have reduced GHG emissions by more than 8,000 metric tons CO2-e.

During 2010, we kicked off a central recycling and waste program to improve headquarters campus municipal waste recycling rates. We’ve also expanded our efforts to reduce other municipal waste streams, including composting leftover food from our headquarters cafeteria for use on a nearby 300-acre organic farm.

Headquarters Energy, GHG and Other Conservation by the Numbers

Activity Energy/Emission/Waste Reductions

Energy-efficient lighting 2.9 MM kilowatt hours annually

Low NOx emission boilers 2,500 lbs of NOx per boiler per year

Burning natural gas instead of oil

18,000 pounds of NOx annually

Recycling various materials

– 168 tons of scrap metal – 128 tons of office paper – 32 tons of wood pallets – 30 tons of scrap wood – 29 tons of cardboard – 6 tons of carpeting; some replaced by climate neutral carpeting – 3.7 tons of fluorescent lamps

Power saving techniques at IT datacenters

1.1 MM kilowatt hours annually

Energy Star-rated cafeteria dishwashing equipment

Operates with 50 percent less energy and water; projected to save $20,000 annually


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Gross Water Consumption (billions of gallons)

CY2010 CY2009

U.S. only 10.2 10.4

Balance of the Americas (Canada, South America)

1.9 2.0

Europe 2.4 1.8

Asia 1.6 1.4

Global 16.1 15.6

EN6 Initiatives Related to Renewable Energy The production of energy—specifically hydrogen energy— from renewable and low-carbon sources is a vision of the future. Air Products continues to look for methods of production that make use of renewable feedstocks as an alternative to steam methane reforming (SMR), which is the dominant method of industrial hydrogen production today. We are also pursuing longer-term alternative hydrogen production technologies, including biomass, gasification, solar, wind and sewage. Another area of focus is the development of proprietary gasification technology for production of distributed clean energy from industrial organic wastes and biomass to supply heat and power to industrial hosts. We are also helping power utilities convert from coal to biomass via the use of proprietary burners and oxygen enrichment. Finally, we supply industrial gases and technical know-how to advanced biofuels facilities and are currently performing technical and market due diligence to explore partnerships for increased participation in this emerging segment.

Corporate Headquarters Solar Array

• The 15-acre solar array can generate 2 MW of renewable power.

• Our own SunSource™ photovoltaic gases and materials were used to make the panels.

• We indirectly reduce our CO2 emissions by 2,000 tons per year.

Plans for Renewable Energy Facility in Tees Valley, UK

Air Products has announced plans to build a renewable energy plant in Tees Valley, UK to generate 49 MW of renewable electricity for up to 50,000 homes in the northeast of England. The facility will use advanced gasification technology to convert 300,000 to 350,000 tons of municipal and commercial waste that would otherwise be destined for landfill into renewable power and will have the potential to generate renewable hydrogen.

Against our 2009 baseline, our goal is to achieve a 10 percent reduction in the controllable portion of our usage by 2015. Our Water Team is leading our efforts to eliminate waste, increase recycling and reuse, and offset water withdrawals with supply from reclaimed sources.

EN9 Water Sources Significantly AffectedWater we use at our operating sites does not significantly affect any ecosystems, habitats or water sources. We continue to evaluate our water sources using the World Business Council on Sustainable Development’s water tool and as part of our participation in the Climate Disclosure Project’s annual water survey.

EN8 Total Water WithdrawalFor 2010, our global water consumption―including water pumped, piped or otherwise brought on-site for use in manufacturing and related activities and excluding water returned to its source―was 16.1 billion gallons. This is an increase from 15.6 billion gallons consumed during calendar 2009 due to higher production in 2010. As production increases, water consumption increases due to higher cooling needs.

Water Withdrawal by Source (CY 2010)

Millions of Gallons

1,000 m3

Surface 25,000 95,000

Groundwater 1,500 5,800

Municipal Supply 17,000 66,000

Rainwater 12 47


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Air Products is a legacy partner with Wildlands Conservancy, Lehigh Valley, Pennsylvania’s local land trust that protects and restores natural areas and waterways to create a healthy, sustainable environment for current and future generations to enjoy.

Photo courtesy of Wildlands Conservancy

selected to avoid and minimize impacts to wetlands and threatened and endangered species such as the Louisiana Black Bear and the Red Cockaded Woodpecker.

• Tees Valley Renewable Energy Facility: To ensure minimal impact to water and migratory bird populations within European Special Areas of Conservation, Special Protection Areas and Ramsar sites (wetlands of international Importance) near the site of Air Products’ Tees Valley Renewable Energy Facility in northeast England, special mitigation measures were employed. For example, a four-meter high screening bund was constructed around the perimeter of the larger development area to mitigate sound and visual disturbances from bird pool habitats. Air Products developed further mitigation measures in cooperation with Natural England, the Royal Society for the Protection of Birds, and the Teesmouth Bird Club. These included employing low-noise continuous flight auguring pile installation that does not involve pounding, as well as a construction ornithological monitoring program to ensure bird habitats are properly monitored during construction.

Examples of Air Products’ sponsorships of local ecosystems include:

• The Pool Wildlife Conservancy in Emmaus, Pennsylvania, a 72-acre wildlife sanctuary bequeathed by our founder, Leonard Parker Pool, to the Wildlands Conservancy, which today serves as the Lehigh Valley’s only not-for-profit environmental organization

EN10 Recycled/Reclaimed WaterDuring calendar 2010, we used 2.1 billion gallons of recycled/reclaimed water:

• 1.5 billion gallons of water were recycled process condensate from global hydrogen production.

• Our Joliet, Illinois hydrogen plant treats a refinery’s wastewater stream for oil removal and demineralization, generating 37 million gallons per year of boiler feed water.

• Our plant in Edmonton, Alberta, Canada uses 565 million gallons per year of a local recycled industrial and sanitary grey water as process feed water instead of river water or potable water. The use of this recycled water stream at Edmonton preserved the water in the North Saskatchewan River and reduced demand on processed potable water.

• Our Santa Clara, California manufacturing facility also uses recycled water instead of potable water, conserving nearly 62 million gallons of drinking water annually.

EN11–15 Biodiversity As part of our Enterprise Risk Management program, we routinely assess the risks of any new “Plant Operations” activities, from grassroots projects to expansions of existing facilities. We consider biodiversity, land use and ecosystem impacts, including evaluating a project’s potential impact on wildlife, vegetation and habitat (particularly wetlands). This assessment can influence decisions to modify the project (for example, change a pipeline route) or develop mitigation strategies (for example, purchase wetland offset bank acreage) to ensure the ecological health of the region is maintained or enhanced. Likewise, our construction practices focus on preserving the local environment by reducing the likelihood of spills or negative effects from runoff.

Recent examples include:

• Gulf Coast Connection Project: Air Products performed extensive ecological and archeological surveys along the 183-mile route for this pipeline project in the U.S. Gulf Coast to assess possible impacts. Based upon survey data and consultation with various resource agencies, including the U.S. Fish and Wildlife Service, the route was


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Governance and Oversight for Climate Change

Board of Directors/Environmental, Safety and Public Policy CommitteeFormal oversight for environmental performance goals, including climate change

Sustainability Council Executive Champion and Senior Vice President, Tonnage Gases, Equipment and EnergyDirect responsibility for climate change programs within the company

Vice President, Environmental, health, Safety and QualityDirect operating responsibility for climate change policy and GHG inventory programs

Corporate Executive CommitteeRegular reviews of climate change risks and opportunities

Sustainability CouncilDefines policies, programs and performance indicators for sustainability initiatives, including climate change

Sustainability ManagerDevelops and manages sustainability programs, practices and reporting

Greenhouse Gases Strategy TeamFocal point for the corporation on climate change and GHG matters

• Establishment and ongoing support of a Wildlife Sanctuary at our Hometown, Pennsylvania electronic specialty gases facility that includes nearly 50 acres of field, woodlands and wetlands

• Establishment and ongoing support for the 1,400-acre C. W. Milmore Wildlife Sanctuary adjacent to our Pace, Florida distribution terminal

• Support for the Coalition to Restore Coastal Louisiana to protect and restore the Louisiana coastal marsh

• Sponsorship of Surrey-based Wildlife Aid in the United Kingdom

• Support for forestry projects in Catalonia, Spain

The Air Products Matching Gifts Program, which gives our employees the opportunity to help direct our philanthropic dollars, includes a category for U.S. Environmental and Conservation organizations 501(c)(3) charities that promote environmental conservation and manage environmental education.

EN16–17 Direct and Indirect Greenhouse Gas Emissions

Management of climate change represents a significant potential for business growth. Air Products also is focused on managing its climate risks.

As a solution provider, our strategy for responding to climate change is straightforward—identify opportunities where our core technology and product strengths bring cost-effective solutions that enable our customers to reduce their overall supply chain environmental impact, while using innovation and efficiency improvements to reduce GHG emissions and the potential cost impacts of a carbon-constrained energy supply on our operations. This approach is reflected in our Greenhouse Gases Policy Statement. WSP Environment & Energy (WSP)

conducted a limited assurance review of Air Products’ 2010 Scope 1, Scope 2 and Scope 3 greenhouse gas inventory in accordance with ISO 14064-3. WSP issued an Assurance Statement, attesting to Air Products’ adherence to the Greenhouse Gas Protocol and the absence of any material inaccuracy in the representation of the inventory data.


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Year CY2010 CY2009 CY2008

Scope 1—Direct Emissions (MT CO2-e emitted) 14.4 million 13.3 million* 13.5 million*

Scope 2—Indirect Emissions (MT CO2-e emitted) 9.32 million 8.21 million* 9.02 million*

*Restated in CY2010 consistent with Inventory Management Plan


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Update on Management Activities — Process Integration and Planning

Building on the successful integration of sustainability into our annual budgeting process, as well as the integration of greenhouse gas considerations into our global capital expenditure process in fiscal 2010, a dedicated Process Integration team is working to more fully integrate environmental sustainability considerations into other company processes, including product and process developments, mergers and acquisitions, and sourcing, as well as for large-scale projects in our Tonnage Gases and Equipment and Energy businesses.

GhG Emissions Methodology

We use the WRI/WBCSD Greenhouse Gas Protocol standard to define organizational boundaries, operational boundaries, emission calculation methodologies (general and specific), sector-specific calculation protocols (e.g., nitric acid production), and inventory quality aspects to ensure an accurate and representative inventory. An Inventory Management Plan, developed under the U.S. EPA Climate Leaders program, defines the work processes employed in managing our data; documents refinements to the emission estimation methodology; and makes restatements of historical values based on objective criteria. The Inventory Management Plan and supporting work process reference documents cover our Scope 1, Scope 2 and Scope 3 reporting activities.

The calculations and data are subjected to several levels of quality assurance to ensure completeness and accuracy of the resulting emissions inventory. The entire inventory process is documented and subsequently summarized in the “Annual GHG Inventory Summary and Goal Tracking Form,” originally developed by the U.S. EPA Climate Leaders program. The Inventory Management Plan, the Annual GHG Inventory Summary and Goal Tracking Form emissions report, and all the underlying calculations and data compilations are then reviewed by an independent, third-party assurance firm, providing a further level of quality assurance.

GhG Goal Index Performance

1.00.99.98.97.96.95.94.93.92.91.90

2007 2008 2009 2010 2011 2012 2013 2014 2015

• Actual Goal Index

• Goal Target

1.0

0.983

0.930

0.944

0.93

In 2010, Air Products successfully completed work with the U.S. EPA Climate Leaders program to establish a comprehensive, carbon-intensity metric and seven percent GHG emissions reduction goal (by 2015) that covers 100 percent of our Scope 1 and Scope 2 emissions. This goal is based on an index related to the two main business activities that generate Scope 1 and Scope 2 emissions: hydrogen production (HyCO) and atmospheric gases separation, respectively.

As an intensity-based metric, our index is influenced by our absolute emissions (numerator of the index) and production (denominator of the index). Through 2010, our progress is ahead of goal based on significant direct emission reductions from our electronic specialty gases production and HyCO energy savings relative to significant production growth. Future progress toward our 2015 goal is dependent on additional contributions from our energy reduction initiatives for HyCO and large ASU businesses.


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• North America

• South America

• Europe & Middle East

• Asia

1%

Direct (Scope 1)

Emissions by Region

87%

11%1%

• North America

• South America

• Europe & Middle East

• Asia

Indirect (Scope 2)

Emissions by Region

51%

17%

1%

31%

Indirect emissions (Scope 2) of 9.32 million MT CO2-e for CY2010 were higher than the previous year, due to increased production across our major businesses.

Indirect (Scope 2) Emissions by Region

Understanding Our GhG Footprint

For calendar 2010:

Direct emissions (Scope 1) of 14.4 million MT CO2-e for CY2010 were higher than the previous year, as our emissions reductions activities, including lower electronic specialty materials production emissions and higher hydrogen and air separation unit plant efficiencies, were more than offset by increased production across our major businesses.

Direct (Scope 1) Emissions by Region

Year CY2010 CY2009 CY2008

Scope 3 Emissions (MT CO2-e emitted) 0.10 mmt 0.10 mmt* 0.12 mmt*

*Restated in CY2010 consistent with Inventory Management Plan

EN17 Scope 3 Greenhouse Gas Emissions

• Transportation/distribution—goods purchased

• Business travel

Scope 3 Emissions by

Category

71%

29%

Our Scope 3 emissions of 0.10 million MT CO2-e for 2010, which represent less than 0.5 percent of our total emission footprint, include transportation/distribution of sold products and business travel in accordance with the U.S. EPA Climate Leaders, “Commuting, Business Travel and Product Transport” guidance methodology.


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EN18 Initiatives to Reduce GhG EmissionsMany of our product and technology solutions enable more efficient production by our customers, resulting in energy savings and lower GHG emissions. Some of the more significant include:

• Oxygen for oxyfuel combustion that reduces fuel consumption and GHG emissions; for de-bottlenecking catalytic cracking units and sulfur recovery units; for facilitating CO2 capture and sequestration; in integrated gasification combined cycle power facilities; for waste gasification; and in biomass combustion/gasification for renewable power and biofuels.

• Hydrogen for use as an emission-free transportation fuel; in the production of biofuels from renewable feedstocks; and to enable refiners to meet fuel emissions standards while increasing the amount of fuel that can be produced from oil.

• Nitrogen for unconventional natural gas production and increased demand for energy-integrated liquefied natural gas (LNG).

• High purity process gases and cleaning agents and services that support the production of solar cells and the drive for renewable energy sources.

• Gases for high efficiency lighting and insulation of windows to reduce energy losses from buildings.

• Catalysts and surfactants for polyurethane foam that provides superior insulation.

• Curing agents for epoxy resins used in high strength-to-weight composites that enable weight reduction in transportation vehicles and wind turbines.

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Air Products’ Offerings and Direct Customer Benefits— By The Numbers

Oxygen

• Oxyfuel combustion Increases flame temperature and the amount of available heat, leading to fuel efficiency gains of five to 65 percent. Customers have reduced GHG emissions by one million MT CO2-e per year using our oxygen and oxyfuel combustion technology.

• Since 2000, our oxygen enrichment technology installations on cement and lime kilns have reduced customers’ combined CO2 emissions by over 270,000 MT CO2-e.

• As an alternative to traditional cryogenic air separation units, our ion transport membrane (ITM) in development has the potential to produce oxygen more economically and efficiently by 30 percent, decrease oxygen plant footprint by 50 percent, and reduce the cooling water requirement by 60 percent.


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Air Products’ Offerings and Direct Customer Benefits— By The Numbers (continued)

hydrogen for clean transportation fuels

• As the world’s leading supplier, Air Products has built, owned and operated more than 30 hydrogen plants in partnership with Technip-Coflexip and operates more than 650 miles of hydrogen pipelines globally.

• Hydrogen is critical to produce cleaner transportation fuels – it lowers sulfur in fuels and the corresponding sulfur dioxide (SOx); cleaner fuels enable catalytic converters to more effectively remove other pollutants from transportation fuels, such as nitrogen oxides (NOx), particulate matter and volatile organic compounds (VOCs).

• Hydrogen also increases the amount of fuel that can be produced from every barrel of crude oil, enabling refineries to avoid building new facilities, saving imports and reducing the associated CO2 emissions.

hydrogen fueling infrastructure

• Air Products has installed more than 130 fueling stations in 19 countries. With more than 50 patents in hydrogen dispensing technology, Air Products provides liquid and gaseous hydrogen and HCNG (hydrogen/compressed natural gas) fueling, and has developed a variety of enabling devices and protocols for fuel dispensing at varied pressures.

lNG

• Air Products has designed, manufactured and exported over 80 LNG heat exchangers for projects in 15 countries. We supply air separation units with proprietary heat exchangers to produce industrial gases in conjunction with the reuse of cold energy from vaporization of LNG before it enters the pipeline distribution system. We estimate 120,000 metric tons of CO2 emissions reductions achieved each year at ASUs reusing LNG cold energy.


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Air Products’ Offerings and Direct Customer Benefits— By The Numbers (continued)

NF3

• Air Products’ nitrogen trifluoride (NF3) is estimated to have reduced the electronics industry’s global warming potential (GWP) gas emissions by 19.5 million MT CO2-e from 2000 to 2008.

C4F6 and C5F8

• As a replacement for C4F8, these etching gases have significantly lowered GWP values of <1 and 100, respectively, and reduced GHG emissions approximately 1,100 MT CO2-e over the past four years.

Catalysts/surfactants for spray polyurethane foam insulation

• Air Products’ catalysts and surfactants in polyurethane foam insulation provide an annual emission reduction equivalent to 4.8 million MT CO2-e.


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EN21 Water Discharge Globally, we recycled 1.5 billion gallons of water in the production of hydrogen that would otherwise have been discharged as wastewater.

As an ACC-member company, we collected preliminary data for U.S. surface waters discharged back to the source body.

Discharge Back to Source Body of Water (U.S. only)

2010Millions of

Gallons

2009Millions of

Gallons

Discharged directly to surface waters 976 587

Discharged to a treatment facility that returned the treated water to the original source body of water

127 170


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EN22 Weight of WasteBased on internal record keeping, external reporting to agencies, and verification documents from approved waste disposal vendors, the weight of hazardous waste from operations globally was 46.8 million pounds during calendar 2010. This increase from 35.6 million pounds during calendar 2009 is primarily due to increases in production globally in our Electronics and Performance Materials businesses. Other smaller increases resulted from some episodic disposal of wastes generated by equipment cleaning and unusable cylinder recycling. In addition, we are reporting for the first time 100 percent global coverage with the new inclusion of Canada, South America and Japan into our global totals.

Disposal Method Millions ofPounds(2010)

Millions ofPounds(2009)

Landfill 2.1 2.4

Incineration 12.5 8.1

Recycling 8.6 6.1

Treatment/disposal 23.6 19.0

Total 46.8 35.6

EN19 Ozone-Depleting SubstancesAir Products does not manufacture and has not had sales of pure chlorofluorocarbons (CFCs) or methyl bromide for several years. We also do not manufacture hydrochlorofluorocarbons (HCFCs); we sell different gas mixtures that contain small quantities of HCFCs and CFCs in cylinders for calibration of detection instruments, as allowed under the Montreal Protocol. In Poland and Spain, we are a refrigerant distributor but also recover, recycle and reclaim for destruction. We are following the market trend as HCFCs are phased out. We phased out the use of CFCs in our own plant refrigeration systems and are phasing out the use of HCFC systems.

EN20 Nitrogen Oxides (NOx) and Sulfur Oxides (SOx)

U.S. & Europe 2010 2009

NOx, tons 1,435 1,644

SOx, tons 193 220

Canada & South America

NOx, tons 341

SOx, tons 2

NOx emissions of 1,435 tons and SOx emissions of 193 tons in the U.S. (for required sites under ACC) and Europe during calendar year 2010 were down more than 12 percent from the prior year, largely attributable to increased use of alternative biomass fuels at our cogeneration facility in Stockton, California. This year, we are also reporting NOx and SOx emissions of 341 and 2 tons, respectively, for Canada and South America combined.


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EN23 Significant Spills The number of environmental incidents reported globally was up slightly year-on-year (three percent). Environmental performance improved in the Americas to the fewest number of incidents in the past six years and down nine percent from prior year. Both the number of permit limit exceedances and government reportable releases were down from prior year. However, with this improved performance, the number of notices of violation received from agencies was up in 2010 (40 percent). Environmental incident reporting in Europe was up slightly (seven percent). This was the third straight year of enhanced reporting in that region and establishes a meaningful baseline against which we have set a not-to-exceed performance target for 2011. Reporting was up significantly in Asia (75 percent), where we continue to focus on increased awareness and reporting.

We continue to meet our goal, maintaining TRI releases at current low levels.


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EN24 hazardous Waste Combined U.S. and Europe hazardous waste shipments of 39 million pounds were up 19 percent compared with prior year and three percent above our 2005 baseline levels. Hazardous waste shipments in the U.S. were up 21 percent year-on-year and up 13 percent in Europe. Waste generation was higher in the U.S. as a result of increased production volumes in our Electronics and Performance Materials operations, essentially returning to 2007–2008 levels. Waste numbers were up in Europe due to increased production volumes combined with an increase in recycling of unusable gas cylinders.

We continue working toward our goal of reducing hazardous waste shipments in the U.S. and Europe by 20 percent from 2005 levels. In addition to multiple source reduction and beneficial reuse programs implemented to date, we successfully initiated another major reuse/reclaim project in 2011, which is anticipated to significantly reduce our shipments off-site for treatment and disposal. If sustained, this project will represent a major step forward toward our 20 percent waste reduction target.

For calendar year 2010, we expanded our hazardous waste measurement and tracking process to 100 percent global coverage, accounting for waste shipments in Asia for the third consecutive year, now including Japan, and adding Canada and Brazil to complete our Americas coverage. Future reporting, forecasting and improvement targeting will be based on global performance.

EN25 Biodiversity Value of Water Bodies and Related habitats Air Products has no known water discharges from operations with significant impacts on water bodies.

TRI Releases* Millions of pounds0.981.34 1.331.302.981.862.121.911.893.404.834.854.485.27

20092008200720062005200420032002200120001999199819971996

*excludes Pensacola remediation

TRI Releases*(millions of pounds)

CY09 CY08 CY07 CY06 CY05

Air 0.72 0.76 0.96 0.81 1.27

HAPs** 0.36 0.38 0.43

Water 0.08 0.16 0.14 0.14 .31

Land 0.18 0.42 0.23 0.35 1.40

Total 0.98 1.34 1.33 1.30 2.98

**Hazardous Air Pollutants as defined by EPA and reported to ACC. Subset of total releases to air.


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and performance materials, such as water-based products that eliminate solvents and reduce VOCs, low- or no-emission catalysts, and replacement products for nonylphenol and nonylphenol ethoxylate-containing surfactants.

EN27 Products and Packaging Materials Reclaimed Most of our products are consumed either through combustion or reaction or are atmospheric gases that can be safely vented after use. Our customers generally do not reclaim our products. We supply the majority of materials in two-way bulk or semi-bulk containers or via pipelines, so packaging materials are not required. For small-scale supply, cylinders are returned and reused, and drums are typically reclaimed after use by our customers. In our Electronics business, for example, we use a very high percentage of returnable containers (>99 percent) requiring little or no packaging materials.

EN28 Significant Fines and Sanctions The environmental fines we paid globally in fiscal 2010 remained very low for our industry at US$15,000. We paid $31,000 in 2009 and $39,000 in 2008.

EN29 Transportation Impacts In the U.S. alone, Air Products operates a fleet of more than 650 heavy-duty trucks that consumed approximately 8,000,000 gallons of diesel fuel and traveled more than 51,000,000 miles in 2010. As business conditions improved in 2010, our product deliveries, mileage and resulting emissions increased. However, through our efficiency programs, we were able to increase the amount of product loaded in each trailer, which reduced our emissions per loaded mile and avoided a higher level of emissions.

We joined the SmartWaySM Transport Partnership (a collaboration between the U.S. EPA and major companies and associations) in 2009 and set preliminary emission reduction targets for 2015 of 10 percent on NOx and particulate matter and two percent on CO2 (2009 baseline). The SmartWay program changed its NOx and particulate matter calculation from 2009, so we are working with the EPA to define these changes and recalculate an equitable, year-on-year performance comparison.

EN26 Initiatives to Mitigate Environmental Impacts We believe that protecting the environment is a key element of sus-tainability. To that end, we work to minimize the environmental impacts of our operations and products and enable our customers to do the same.

Air Products Wins 2010 Union Pacific Railroad Award for Safety

For the third consecutive year, Air Products received a Pinnacle Award for chemical transportation safety from Union Pacific Railroad. The Pinnacle Award recognizes companies that have implemented successful prevention and corrective plans and have achieved a rate of zero non-accident releases for shipments of regulated hazardous material.

Potential environmental impacts are evaluated during product development through a stage-gate process where environmental concerns must be addressed before a product can move through a gate and to the next phase of development. We also proactively identify alternative raw materials and develop products that have less impact on the environment. For commercial products, potential environmental impacts are assessed through our product risk review process, which establishes risk management measures for products based on their intrinsic environmental hazards.

We also evaluate environmental protection during plant design and operation. All capital expenditure authorizations, which are required to finance new projects, include environmental considerations. From an operations perspective, we have set specific goals to reduce emissions, water consumption, hazardous waste and energy use. We also established greenhouse gas reduction targets based on our verified GHG inventory.

Importantly, the majority of our products and services enable our customers to reduce their environmental impacts. Some examples include use of our hydrogen by refiners in processing crude oil, thus producing cleaner fuels that enable vehicles to operate more efficiently and reduce emissions of SOx, NOx and particulates; water treatment technologies that improve water quality and reduce wastewater sludge;


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Labor Practice Disclosure on Management Approach

Our Human Resource policies and principles carry a common theme: helping our people reach their full potential in a culture of respect, fairness, inclusion and dignity. While intended to represent a statement of our own high standards, these policies and principles also reflect our review of labor standards espoused by human rights groups and other leading companies and organizations worldwide.

Air Products acknowledges the rights of its employees and adheres to all local and employment laws, wherever we operate, globally. We recognize and respect the cultural differences found in the worldwide marketplace and are committed to hiring people with varied backgrounds. We sup-port equal opportunity, value diversity, and strive to provide a work environment that is supportive and inclusive of differences.

We maintain a strong policy against harassment, discrimination and retaliation of any kind based on race, color, religion, national origin, age, citizenship, gender, sexual orientation, gender identity and expression, veteran status, or physical or mental disability.

Total Rewards and Retention Our Total Rewards and Retention approach for attracting, mot-ivating, developing and retaining high-performing employees includes:

• Market-based competitive pay

• Market-based competitive benefit offerings for eligible full- and part-time employees, which may include medical/wellness, employee assistance, dental, paid time off, retirement plans, life insurance, disability programs, long-term care insurance, adoption assistance and more

• Career development and performance enhancement

• Training, learning and knowledge management

• Global health and wellness programs

• Driving a diverse and inclusive work environment

Positive Employee RelationsWith regard to employee relations, we work to create a culture that affords employees the opportunity to work without fear of intimidation, reprisal or harassment. We hold managers and leaders accountable for positive employee relations. We abide by an open door policy and strive for employees’ questions and concerns to be resolved in a fair and timely manner. Some of our employees are represented by officially designated third parties or designated/elected employee representatives, and we respect their voluntary freedom of association and right to bargain collectively and comply with pertinent locals laws where we operate.

Priority #1: Safety and healthThe safety and health of our people, customers and the communities where we live and operate remain our highest priorities. We believe all accidents are preventable, not inevitable, and we aim to meet or exceed applicable occupational health and safety standards.

All employees must abide by our Total Safety Philosophy as a condition of employment, and through our Basic Safety process, are required to personally take corrective action and apply our Accident Predictive Technique. These activities are tracked and assessed, and steps are taken to further improve safety throughout the company.

Good health supports good business, and we strive for a work environment that upholds and improves employees’ mental and physical health through a variety of programs, tools, training and services.

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> Labor Practice Performance Indicators





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Education and TrainingAir Products has a globally consistent learning and development strategy to develop the talent our business needs and provide long-term career development for our employees. This is deployed through a global learning management system and our Air Products University organization. Annual world-class metrics have been established and are benchmarked through the American Society for Training & Development’s (ASTD) BEST methodology. Air Products has been recognized twice as a top 20 learning organization by ASTD’s rigorous benchmarking standard. The BEST criteria not only measure breadth of learning delivered, but also include employee satisfaction, effectiveness and job impact.

Through the 11 colleges of Air Products University, we provide over 4,500 classroom and Web-based course offerings with development tracks to build our people’s skills. The 11 colleges represent the 11 key skill areas that we consider necessary for our workforce to be successful as a sustainable business. Supported by our Learning and Knowledge Management Center of Excellence, there are over 100 learning communities and action teams within the company. Our goal is to create an environment where everyone can learn from each other’s experiences, reuse the knowledge others have, and collaborate on projects of common interest. This approach allows us to ensure our employees are trained to comply with job requirements, educated to innovate new customer solutions, and learn from our collective experience to grow and sustain the company by refreshing and developing new business skills.

For example, all employees are required to complete Code of Conduct training, which includes standards for fair dealings, diversity and respect in the workplace, equal opportunity employment, human rights and labor and employment laws, health and safety, intellectual asset protection and global data privacy, and related topics. In addition, our Commit to Integrity learning program provides a supplemental, comprehensive curriculum on ethics and compliance topics based on employees’ job responsibilities. More than 1,000 leaders around the world have completed our Leadership Education program, which takes participants through a personal examination of their knowledge, skills and leadership attitudes to select developmental goals that meet personal growth and company needs. In addition, approximately 1,200 new managers and supervisors have completed our global Management Fundamentals Program―our 15-month, instructor-led e-learning and coaching program that helps prepare them to transition effectively into their roles. We also provide an Educational Assistance Program by which more than 300 eligible employees globally received funding during the year for accredited undergraduate, graduate or certificate courses of study from qualifying institutions.

AccountabilityThe most senior executive with responsibility for labor aspects is the Senior Vice President for Human Resources and Communications.

lA1 Workforce by Employment Type At the end of fiscal 2010, Air Products (including majority-owned subsidiaries) had approximately 18,300 employees, of whom approximately 17,900 (or 98 percent) were full-time and of whom approximately 11,000 were located outside the United States.

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FY05 FY06 FY07 FY08 FY09 FY10

The Americas 56% 54% 49% 46% 41% 41%

Europe/ROW 27% 27% 30% 31% 34% 33%

Asia 17% 19% 21% 23% 25% 26%

Total 20,200 20,700 22,100 21,100 18,900* 18,300*

*Global workforce, active employees (both full-time and part-time), including Air Products Healthcare

Bersin & Associates recognized Air Products University with a Learning Organization and Governance Excellence award.


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lA7 Rates of Injury and Work-Related FatalitiesDuring fiscal 2010:

• We reduced employee recordable injuries by 27 percent, for a rate of 0.46, and contractor recordable injuries by 17 percent, for a rate of 0.52. Employee lost-time injuries (LTIs) decreased 13 percent to 0.19, while the contractor LTI rate of 0.33 increased.

• Sadly, an Air Products driver suffered fatal injuries as a result of a vehicle rollover. We continue to focus on specific plans to eliminate the causes of tragic incidents such as this and improve our performance with respect to serious injuries and incidents.


• Our preventable vehicle accident frequency rate of 1.32 (preventable accidents per one million kilometers driven or 2.00 per one million miles) increased in the Americas and also in Europe due to a change in reporting criteria.

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FY10 FY09 FY08 FY07 FY06

Employee Recordables 99 (0.46) 131 (0.57) 160 (0.69) 174 (0.79) 213 (0.99)

Employee LTIs 41 (0.19) 47 (0.20) 55 (0.24) 48 (0.22) 54 (0.25)

Contractor Recordables 43 (0.52) 51 (0.58) 45 (0.65) 52 (0.80) 65 (0.97)

Contractor LTIs 27 (0.33) 24 (0.27) 15 (0.22) 14 (0.21) 25 (0.37)

(Rates shown in parentheses based on the number of recordable incidents for each 100 full-time employees per year, based on 2,000 hours worked per employee per year)

Employee and Contractor Safety Cases (FY’10 vs. FY’09)

Employee recordable injuries 27%

Contractor recordable injuries 17%

Employee lost-time injuries 13%

Contractor lost-time injuries 11%

lA8 Global health and Wellness at Air Products We provide a variety of educational, training, counseling and prevention resources to maintain and improve the mental and physical health of our global workforce. We have a Global Medical Director and regional Health and Wellness staff who act as liaisons for the health and medical issues facing employees in those regions.

Global health and Wellness at Air Products• Medical records and job-based

health management

• International travel health

• Medical emergency response

• Work-related injury care

• Drug screening

• Seasonal flu vaccination programs

• Occupational health programs and employee wellness initiatives


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Our Global Health and Wellness staff:

• Works closely with our Environmental Health and Safety organization to ensure global standards comply with governmental regulations on topics including handling of blood-borne pathogens, medical records management, emergency response, fire brigade and confined space entry rescue, among others.

• Facilitates and provides wellness assessments and health coaching for employees in the U.S. and Canada, including a program for more than 800 professional Air Products drivers.

• Provides a program of travel medicine—including formal standards and policies for medical evaluations, training, administration of medications and/or immunizations, country-specific information and educational materials and more—to help employees and family members traveling internationally or working abroad.

• Collaborates with our Global Security and Corporate Travel organiz-ations to ensure employees have the most current information they need to travel safely. Internal websites have been streamlined to make this information more easily accessible.

• Coordinates a Taking Charge of Our Health Wellness Program in North America in which thousands of Air Products employees participate. The Program offers webcasts, physical activity challenges, online tools and educational materials, and “wellness credits” that translate into medical contribution deductions for current employees.

• Develops quarterly WebCast On Demand video presentations on relevant global health topics, including disease prevention, weight management, cardiovascular health, sleep disorders and more.

• Conducts global Influenza Awareness campaigns, providing flu vaccines at employee work sites and using Health Response Officers at each site to promote seasonal influenza vaccinations. This has resulted in vaccination rates higher than national averages at many Air Products locations for the past several years.

health Crisis ManagementOur Health Response Task Force, a sub-team of the Corporate Crisis Management Team, makes sure we are prepared for a health crisis. The task force also provides training and guidance to over 550 Health Response Officers throughout the company who serve as a first line of defense for keeping our workforce safe from transmission of disease. During 2010, the task force focused on reviewing and revising the company’s health crisis management plan―specifically sections that protect and monitor our visitors and employees in the event of a pandemic. The Health Response Officers also used this time to inventory and restock any expired personal protective equipment needed for their location’s employees in the event of a health crisis.

lA10 Employee Training Based on an individual’s job role and responsibilities, training and learning requirements and opportunities may vary. The average number of formal classroom and Web-based instruction training hours per employee for fiscal 2010 was 32, up 26 percent from 2009. We are also measuring the time invested in learning through other events, such as hands-on training, learning communities, action teams and knowledge transfer processes, which are available to all employees. In 2010 employees spent, on average, 2.5 hours in additional active learning events for every one hour of formal training. Therefore the total time invested in learning events in fiscal 2010 is about 112 hours, an increase of 24 percent over the prior year.

Employee/ Skill Area

2009 Average Training hours

per Year per Employee

2010 Average Training hours

per Year per Employee

Engineering/ Technology 38 49

Plant Operations 31 46

Supply Chain 18 38

Professional 19 14

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lA11 Skills and lifelong learning for Retirees • We have a formal Knowledge Retention and Transfer process to help

preserve and share knowledge effectively throughout the organization. From storytelling to shadowing, we use various knowledge management tools to help employees who are approaching retirement impart tacit knowledge to their successors and work teams, and broadly throughout the organization.

• We offer retirement planning seminars for employees and spouses on topics such as financial readiness and the transition to nonworking life. Our Credit Union also provides contracted services for retirement financial planning.

• Some of our retirees return to work on a part-time basis through our Supplemental Employment Program, enabling them to work up to 1,000 hours within a fiscal year, or roughly 20 hours/week. Pay, converted to an hourly rate, is comparable to the salary earned prior to retirement (assuming the work is comparable).

• The AirPRO retiree organization also provides opportunities for educational activities.

lA12 Performance and Career Development Reviews We use a global Performance Enhancement Process that knits together the cascading of organizational goals and objectives, performance management, career development, succession planning, workforce planning and compensation to help maximize our talent management results.


Key subprocesses include individual and relative performance man-agement, the Human Resource Planning process and compensation planning. The annual performance appraisal process engages the employee and manager in a dialogue to establish and maintain personal objectives and measures which are tied to the company’s goals. Feed-back is provided during the year on an informal basis, with a formal meeting and documentation occurring at the end of each fiscal year. Performance and career-related plans are developed at the same time as the performance objectives are established. To drive accountability, metrics are maintained by organization and show the number of appraisals completed, and the number of development plans created and completed.

In addition to individual performance reviews, the Relative What and How Process (RWH) compares similarly situated peers and provides feedback to employees on how they are situated relative to others. Employees are assessed on two dimensions: what they have done and how they have gone about completing their work and responsibilities. Individual contributors are assessed against a common set of competencies for the “How” factor; managers are assessed against another set. Both individual and relative performance are factored into base and variable compensation. Our pay practices link the achievement of business goals and personal performance to individual rewards.

The Human Resource Planning (HRP) process is driven by strategic business plans and helps ensure the development of a high performing organization. This ongoing process ensures that the right people and organizations are available at the right time to meet business and marketplace needs. The HRP process identifies 1) critical talent management issues; for example, employee development, retention, deployment, additions, realignments, organization structure changes, growth and consolidation; and 2) talent pools, including high-potential individuals. The process also supports staffing and succession decisions.

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LA13 Diversity and InclusionA diverse and inclusive workplace is essential to our success, today and in the future. At Air Products, this means having the right mix of people―with their unique characteristics, perspectives and life experiences―backed by a work environment where they are engaged, valued and supported to do their best work.

The highest level of oversight for Diversity and Inclusion (D&I) rests with the ESPP Committee of our Board of Directors and our CEC, which includes the most senior executives of the company. Our Global Diversity & Inclusion Council (GDIC) implements our D&I strategy and sets priorities, working directly with three Local Diversity & Inclusion Councils (LDICs) for the Americas, Asia and Europe; our Diversity & Inclusion Leadership Teams (19 across our businesses globally); and seven Employee Network Groups.

The Learning curriculum is focused on skills-building and individual responsibility for inclusion. A new D&I curriculum, launched in late 2009, is designed to build on the existing foundation of awareness from previous training. Requirements include two in-language Web-based training modules, D&I Basics and Building Inclusion, followed by a classroom-based course, Practicing Inclusion. Managers also complete an additional classroom-based training, Managing Effectively in a Diverse Work Environment. In addition, we launched three optional Web-based courses for continued learning.

Other Diversity and Inclusion programs for our employees include on-boarding sessions and customized workshops for individuals, teams and leaders; a Diversity & Inclusion Toolbox on our intranet, with power tools, research and exercises; multicultural events hosted by our Employee Network Groups; annual Diversity & Inclusion Recognition Awards, recognizing our people’s top achievements in key D&I areas; and community engagement through our D&I teams. Our Diversity & Inclusion Web site is designed to help other stakeholders better understand our focus and initiatives.

Work/life BalanceWe recognize that flexibility is key to helping our employees balance their work and personal lives. As a result, we have numerous programs and policies that may be offered to employees at various stages of their work lives. A variety of flexible work arrangements and leave of absence options, depending on employee and business needs, may be offered, including:

• Flexible schedules

• Compressed workweeks

• Reduced hours (including part-time and job-sharing)

• Telecommuting

• Short- and long-term leave for personal reasons (childcare, eldercare)

• Leave for emergency family reasons

• Education leave

• Medical leave

• Adoption leave

• Military leave

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Human Rights Disclosure on Management Approach

We follow all labor and employment laws in the countries where we operate, including those pertaining to child labor and employee rights such as freedom of association, privacy and equal opportunity employment. Our global Human Rights Policy Statement echoes our support of core labor standards and is an integral component of our Code of Conduct, by which we require our employees and suppliers to abide. We do not condone child labor, forced labor or discrimination, and we strive to maintain positive employee relations.

Reflected in our Statement on Conflict Materials, we take very seriously concerns that profits from illegal metals mining may be fueling human rights atrocities in the Eastern Region of the Democratic Republic of the Congo.

The security and safety of our employees and the communities in which we operate has always been a priority. In support of these efforts, and as part of the Air Products Security Plan, we regularly communicate with employees about the importance of security and our expectations for employees to focus upon security matters.

Our formal security policies and standards address employee and facility security, product security, pipeline and land transportation security, security vulnerability assessments (SVAs), workplace violence, and security services for which we contract, among other areas.

The most senior executive with responsibility for human rights aspects is the Senior Vice President for Human Resources and Communications.

hR1 Acquisition ScreeningAs part of our entry strategy into new geographies, including those involving acquisitions, we examine human rights records for countries of interest. We also provide updates to profiles for countries where we have operations in place as part of periodic business reviews. Our due diligence of specific companies and their key management also includes checks for any “red flags” which would highlight significant issues associated with the management or operation of the company.

hR2 Screening of Suppliers and ContractorsAll suppliers and contractors are expected to comply with the Human Rights principles of our Global Code of Conduct.

hR3 Employee TrainingWe make our Global Code of Conduct available to our global workforce and conduct mandatory training. Selected employees also periodically certify their understanding of and compliance with the Code of Conduct. All new hires as well as some interns, co-ops and other groups are both trained and certify compliance.

In addition, our Commit to Integrity learning program offers a comprehensive curriculum on ethics and compliance topics, and our people take selected modules based on their roles and responsibilities.

hR4–7, hR9 Fundamental Rights• Nondiscrimination: There were no judicial or administrative decisions

of discrimination made against us on the grounds of race, color, sex, religion, political opinion, national extraction or social origin in fiscal 2010.

• Freedom of association: no operations have been identified where these rights are at risk.

• Child labor: Employees in all of our operations are older than the legal minimum ages in those jurisdictions. None of our operations have been identified as being at significant risk for incidents of child labor and/or young workers exposed to hazardous work.

• Forced labor: None of our operations have been identified as being at significant risk for incidents of forced or compulsory labor.

• Indigenous rights: There were no incidents of violations involving the rights of indigenous peoples in fiscal 2010.

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Human Rights Disclosure on Management Approach

hR8 Security

Security PersonnelAir Products employs security personnel globally, including a cyber investigation team, with much of our staff having prior security, audit and law enforcement backgrounds. All third-party contracted security personnel are properly vetted to ensure professional services are achieved.

Security Vulnerability Assessments (SVAs)Air Products has a regimented, global SVA program in place supported by trained personnel and global policies and standards. The SVA process systematically assesses the risks at each facility and determines security measures needed to ensure risks are properly mitigated.

Chemical Facility Antiterrorism Standard (CFATS) Our security and process safety teams are actively engaged in the CFATS effort. We have completed the “Top Screens”, SVAs and Site Security Plans (SSPs) per the regulation and are waiting to receive preliminary approval of our plans. Once approved, the Department of Homeland Security will visit the site and complete an audit to confirm that the SSP has been properly implemented. The work we have already done to comply with the ACC Security Code should greatly reduce the need for additional security upgrades at our U.S. facilities.

U.S. Customs Trade Partnership Against Terrorism (C-TPAT) Programs As a certified and validated C-TPAT member, we consistently look to maintain the highest level of security and integrity across our supply chains.

Transportation Security Under our EH&S Corporate Risk Management Process, our Transportation Risk Team evaluates toxic-by-inhalation and flammable gases and chemicals that meet our established corporate risk criteria and completes assessments to analyze transportation risk. This analysis includes a process safety review, evaluating package specifications and sizes, shipment frequency, route, carriers, emergency response capability, and elements of Responsible Care in the supply chain.

Global Security Incident Reporting SystemWe have implemented a global incident reporting system to respond to suspicious behavior and other security-related activity. All incidents are recorded and investigated by appropriate internal resources as well as external law enforcement agencies, including the regional Joint Terrorism Task Forces in the U.S.

Employee Travel Security Program• Air Products utilizes a Web-based travel tracking tool that enables us to

identify, locate and communicate with employees traveling anywhere in the world. Our Global Security and Global Health & Wellness organizations provide security and medical advisories to employees traveling internationally.

• Security program for employees entering high-risk locations: A security risk assessment is completed for all employees who travel to high-risk locations, including evaluation of travel, lodging and evacuation plans.

• On our corporate intranet, our World Alert web site provides current security and medical information for major events such as pandemics. Additionally, a list of high risk locations, posted travel restrictions, and travel advisories are available to our global employees.

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Emergency Preparedness

We have emergency response plans in place at all of our plant sites and mandatory employee training requirements that are tailored to the level of response. Our Global Crisis Management Plan includes:

• Global and regional crisis management teams

• Crisis management training programs

• Quarterly crisis management meetings

• Annual and site-specific drills/tabletops

• Facility database populated with critical information for all global sites

• Pandemic planning

• 24/7 Global Security Operations Center

• Employee Emergency Line


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Social Disclosure on Management Approach

We believe we have a responsibility to be a good steward of the environment and a responsible corporate citizen in our hundreds of operating communities throughout the world. Healthy and vibrant communities are key to our ability to attract, retain and develop talented employees and to operate a successful and growing enterprise:

• The quality of the community’s educational system is key to the skills of our employees.

• The vibrancy of the community as a good place to live is critical to attracting and retaining the best employees.

• The health of the community’s economic and social infrastructure is key to our ability to operate a successful facility with the support of the community.

• Community involvement builds employee morale, a sense of teamwork and productivity. Air Products employees who feel they are a contributing part of the community are invariably more committed employees.

We also are committed to:

• Operate by the highest standards of integrity and ethical behavior as the environment in which we do business continues to change, challenging us all to change and grow with it.

• Be a leader in the areas of the environment, health and safety and comply with or exceed laws and regulations.

• Design and operate our plants and facilities in a manner that protects the environment and the health and safety of our people and the public.

• Develop and produce products that can be manufactured, distributed, used, and recycled or disposed of in a safe and environmentally sound manner.

• Be an employer of choice, known as much for the way we value our employees as for the quality of our products or our earnings.

• Be an integral part of our communities through time, talent, resource and financial contributions.

For related information, please see the Stakeholder Engagement discussion in our Report.

The most senior positions with responsibility for society aspects are the Senior Vice President and General Counsel, and the Vice President and Treasurer and Chief Risk Officer.

SO1 Community EngagementAt Air Products, we believe that for our social investment to be successful, it is important to understand the needs of our communities before, during and after operations.

Upon entering and operating in a region, our community relations standard encourages all Air Products facilities to be aware of surrounding communities and be sensitive to their needs. Since every municipality is unique, Air Products works closely with the city and county governments to adhere to existing zoning and planning requirements. We encourage

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Air Products employees take the opportunity to recycle obsolete electronics at an annual electronic scrap collection event.


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site managers to engage in community outreach, including activities that promote regular dialogue with employees, regulatory authorities, emergency services, and the appropriate target audience in the area of each facility.

Some Air Products facilities also have a Community Advisory Panel (CAP) made up of local residents. CAP members are people from a diverse cross-section of the community representing different interests. Sometimes an Air Products CAP participates with industrial neighbors, resulting in a more robust dialogue between residents and industry. Using a facilitator, CAPs meet regularly to discuss issues important to the surrounding community. The ongoing feedback from these CAP discussions often is considered when addressing EH&S issues and performance and to generate ideas for improvement.

Our global Community Relations strategy also includes programs, sponsorships and foundation giving to meet community needs and build an environment of trust and understanding with our employees, community groups and other key stakeholders. See the Stakeholder Engagement section of the Report for additional information.

SO2 Risk Assessment for Corruption Our Corporate Risk Office gathers input from subject matter experts in all of our business and functional areas on risk elements of our corporate activities to compile our Corporate Risk Matrix. Each group is asked to provide information about any risk elements in their area, including corruption. In addition, risk analyses are done to support entry into new geographies or markets, including assessments of the climate for corruption where an Air Products business unit is looking to engage in new business activity. Due diligence on potential private venture partners includes background information on any activities which might fall under the category of corrupt business practices. We also perform an annual risk assessment for each of our existing joint ventures, and one of the risk factors that we evaluate is country risk as it relates to corruption and enforcement of rule of law. These activities collectively cover all of our core businesses. We reinforce our expectations for employee and supplier behavior via our Code of Conduct.

SO3 TrainingAir Products has a rigorous training program for targeted employees with respect to corruption. Employees are identified as candidates for Foreign Corrupt Practices Act (FCPA)/Anti-bribery training based upon the position they hold and where they are located. Of the required employees targeted globally for FCPA training, we have achieved a 96 percent completion rate. Training is available in 16 languages to facilitate understanding of this important topic. In addition to FCPA training, Air Products requires all employees to complete a multiunit course on our Code of Conduct and Competition Law. Ninety-five percent of our employees have completed our Code of Conduct training, 91 percent have completed Global Competition Law training, and 87 percent have completed the most recently added course, Global Export Controls. Nearly 8,900 employees have taken Information Security training, and 1,760 European employees have taken Data Privacy training, with further global rollout of that course planned for 2011.

SO4 Governance and Actions Air Products takes a strong position on all violations of its Code of Conduct. We maintain telephone and Web-based allegation systems designed to be compliant with all local regulations and ruling. Stakeholders who wish to make allegations of violations in accordance with the Sarbanes-Oxley Act or our Code of Conduct can report their allegations, consistent with local regulations, to their local management, functional specialist or to our allegation system. All reported incidents and the related investigation are tracked in a global database. While all allegations are referred immediately for investigation, the status and results of investigations are reviewed quarterly with our Corporate Investigation Council and annually with the Corporate Compliance Committee, which comprises senior executives, and the Audit Committee of our Board of Directors. Air Products has not had any allegations of corrupt behavior as defined under FCPA, and as a result, no employees were terminated or disciplined for incidents of corruption in the reporting period.

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SO5–6 Public Policy Governments make policy decisions that affect Air Products and our business operations, and we recognize our responsibility to our stakeholders to participate in the political process.

In accordance with our Policy on Political Contributions and Expenditures for Lobbying, Gifts and Travel for Government Officials, we will not use corporate funds to make direct or indirect political contributions to candidates in any country or region, even where allowed by law. However, we do use our resources to advance matters of public policy by educating public officials about our business. We also use our resources to facilitate employee contributions.

Air Products uses a political action committee (PAC), whose membership comprises certain eligible Air Products employees who donate to it on a purely voluntary basis. The PAC makes contributions―reported to the Federal Election Commission and applicable state agencies―to U.S. candidates who support the company’s business interests. In 2010, Air Products’ PAC contributions totaled over $100,000.

The Environmental, Safety and Public Policy Committee of the Board of Directors monitors the company’s political activities through annual reports from members of management responsible for the activities.


SO7 Anti-Competitive Behavior Legal actions for anticompetitive behavior, antitrust and monopoly practices which are deemed to be material are reported as required in our Form 10-K, Item 3, Legal Proceedings, for our fiscal year ending 30 September 2010.

SO8 ComplianceThe value of fines for any environmental or safety issues are reported separately. Although there were no significant fines during the reporting period, incidents which could result in fines are pending. Any sanctions for noncompliance with laws and regulations which are deemed to be significant are reported as required in our Form 10-K, Item 3, Legal Proceedings, for our fiscal year ending 30 September 2010.

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Product Responsibility Disclosure on Management Approach

We are committed to the safety of our products and ensuring they can be effectively handled by our customers. The key to safe handling is managing potential risks, which we do through our established Product Risk Review process. We communicate these risks through safety data sheets, labels, Safetygrams and other means. And we have designated certain products for customer qualification and special tracking during transportation.

We aim for a cradle-to-grave life cycle management approach, incorporating EH&S protection into every step of the life cycle of our products. Air Products has global product safety policies and standards for eliminating chemicals that are being regulated out of use and establishing criteria for hazard characterization of our products. In addition, through the nonprofit MATGAS Research Center in Barcelona, Spain, we are coordinating work on CO2 capture and on using CO2 in applications such as waste treatment and in bioenergy as well as projects to convert waste into useful resources. Leveraging this experience, our Sustainable Technologies Center is expanding our capability to conduct life cycle assessments (LCAs) while serving as the conduit for Green Chemistry opportunities.

The most senior position with responsibility for product responsibility aspects is the Vice President, EHS&Q and Chair of the Corporate Sustainability Council.

PR1 Assessment of health and SafetyWe evaluate all products for health and safety impacts through risk assessment processes that are applied based on the product’s state of commercialization:

• We review new products through the Offering Development and Introduction (ODI) process, and

• We assess existing commercial products through the Product Hazard and Risk Assessment Process (PHRAP), commonly referred to as the Product Risk Review process.

ODI is a gated process that considers environmental, health and safety aspects at each of five product introduction gates from concept through commercialization. All EH&S concerns that are identified must be addressed before the product can move to the next gate and ultimately be commercialized. The Sustainable Technologies Center and Process Integration Teams are working together to embed other sustainability aspects into ODI.

The Product Risk Review process examines the life cycle of each product, from manufacturing through ultimate use and disposal. New hazard information or regulatory changes can trigger a re-review of company products. Commercial products that are added to our product lines through acquisition also are evaluated under the Product Risk Review process.

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PR2 Product Compliance During fiscal 2010, we had a small number of transportation-related fines in the U.S. totaling less than $10,000.

There were no incidents of noncompliance for company products in 2010. This is due in large part to the incorporation of product safety requirements into our global EH&S Management System. These requirements are consistent with product regulations and Responsible Care. Our product risk management processes have been certified against the Responsible Care Management System requirements.

PR3 Product and Service InformationAll products comply with company requirements and governmental regulations for hazard communication information, specifically safety data sheets and labels. In addition, we established a list of restricted chemicals that require customer qualification and special tracking during transportation, reflecting regulations such as the European Directive 2002/95/EC, “Restriction of the Use of Certain Hazardous Substances,” and the Montreal Protocol. Also, we have identified 30 high-priority and approximately 65 low-priority chemicals that represent the majority of our products for inclusion in its Global Product Strategy program, under which we are releasing chemical summaries over a five-year period. These chemical summaries communicate information to the general public on the uses and EH&S concerns of these substances.

For more than 25 years, we have published Safetygrams on the safe use and handling of our products and related equipment and services. These Safetygrams, which are primarily aimed at EH&S professionals, cover a majority of our products and are publicly available.

PR4 Products and labelingWe did not receive any fines or citations related to product compliance issues during 2010. We are continuing to evaluate implementation of a formal system for tracking product noncompliance incidents. We had a small number of transportation-related fines during fiscal 2010 in the U.S. totaling less than $10,000.

PR5 Customer SatisfactionSee the Stakeholder Engagement and Feedback section of our Report.

PR6–7 Marketing CommunicationsWe have a centralized marketing communications discipline with regional support offices, and we regularly benchmark respected organizations, including The Corporate Executive Board Company® and The Conference Board, for which our Global Brand and Marketing Communications Director and Vice President of Corporate Communications serve as chairs of the Communications and Branding committees. Globally, we use a consistent briefing package to develop all promotional materials, ensuring that communications objectives and needs are understood up front, messages are clear and consistent, and our corporate brand and core values of understanding, passion, and integrity are integrated. We had no instances of noncompliance, sanctions, warnings or fines regarding regulations for marketing communications during the year.

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PR8 Customer PrivacyAt Air Products, we believe it is our responsibility to safeguard the personal information of our employees and all other individuals with whom we deal, including customers. We have established a Global Data Privacy policy to ensure that personal information is handled and stored in a secure manner. We also adhere to any additional data protection requirements in the countries in which we operate.

We have had no substantiated complaints regarding breaches of customer privacy and losses of customer data.

PR9 Provision/Use of Products/ServicesWe are unaware of any significant fines in fiscal 2010 resulting from use of our products. Any sanctions for noncompliance with laws and regulations which are deemed to be significant are reported as required in our Form 10-K, Item 3, Legal Proceedings, for our fiscal year ending 30 September 2010. During fiscal 2010, we had a small number of transportation-related fines in the U.S. totaling less than $10,000. Air Products Teams with Marie Curie

Cancer Care for Data ProtectionEnd-of-life care charity Marie Curie Cancer Care provided care to more than 31,000 terminally ill patients at home or in its nine hospices in 2010, and Air Products’ Healthcare division provides home oxygen to over 325,000 patients throughout Europe. Air Products shared its expertise in developing and integrating its data protection program― including lessons learned from both technical and change management perspectives― to help Marie Curie design its employee training and awareness initiatives.

Photo courtesy of Marie Curie Cancer Care



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REACh and Global Product Regulations

Air Products continues to focus on meeting the requirements of the EU Registration, Evaluation and Authorization of Chemicals (REACH) regulation. In 2010, we completed the registration of several substances in our products after successful preregistration two years earlier. We plan to complete the registration of substances in accordance with the schedule provided by the legislation, with the majority of our substances to be registered in 2013 or 2018. Also, as part of our REACH efforts, we have identified and communicated the downstream uses of our products and have classified chemical substances according to the new European Classification, Labelling and Packaging Regulation, referred to as CLP.

In a small number of cases, in order to eliminate risk to our cus-tomers, Air Products has withdrawn products from the market containing substances which have recently been subject to authorization.

REACH is beginning to have global impact as governments around the world consider the adoption of similar chemical control regulations. We continue to track these developments and evaluate the potential impacts they could have on our businesses and customers.

Globally harmonized System (GhS) The Globally Harmonized System (GHS) for the classification and labeling of chemicals provides a common approach for defining and classifying chemical hazards and communicating safety information on labels and safety data sheets. In 2010, Air Products converted our gases, electronics and pure chemical products to the GHS scheme in the EU, Singapore and Brazil, adding to earlier conversions in Korea, Japan and Taiwan. GHS will be applied to chemical mixtures in these regions based on the applicable regulatory deadlines. We continue to prepare for GHS in China, Canada and the U.S.


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© Air Products and Chemicals, Inc., 2011 (33649) 900-11-003-US

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Europe Air Products PLC Hersham Place Technology Park Molesey Road Hersham Walton-on-Thames Surrey KT12 4RZ UK Tel 44-1932-249200 Fax 44-1932-249565

Air Products Chemicals Europe B.V.Kanaalweg 15, Box 31933502 GD UtrechtNetherlandsTel 31-30-2857100Fax 31-30-2857111

Asia Air Products Singapore Pte. Ltd. 2 International Business Park#03-32 The StrategySingapore 609930 Tel 65-6494-2240Fax 65-6334-1005

Air Products Asia, Inc. 1001, 10/F, Sunning Plaza 10 Hysan Avenue, Causeway Bay Hong Kong Tel 852-2527-1922 Fax 852-2527-1827

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For more information about Air Products’ corporate responsibility and sustainability efforts, visit our Web site. We encourage you to send us your comments or questions.

2011 SuStainability REpoRt - Air Products & Chemicals · • Oxygen for combustion, ... Dexter...

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