For its sustainability efforts, the materials manufacturer Covestro has once again received the highest score of gold in an international rating. In the latest survey by the renowned ratings agency EcoVadis, Covestro was able to improve significantly and is now in the top one percent among the 50,000 companies reviewed. With 80 out of 100 points, Covestro was well above the average score of 44.6 points.
Increasing the score again by seven points is due, among other things, to the efforts made to further improve working conditions, in order to achieve the best possible balance between private life and work. Endeavors devoted to environmental protection and the high level of sustainable measures implemented in procurement were also commended. The assessment also takes into account ethical conduct and respect for human rights in the company.
Sustainability at the center
"Sustainability in all areas is of central importance for Covestro, and EcoVadis reliably indicates where we stand here. We use the well-established rating system to uncover details about our strengths and weaknesses, and to see where we can maybe still improve," says Dr. Christian Haessler, Head of Sustainability at Covestro.
Several of Covestro's major customers already do away with their own surveys and rely instead on the EcoVadis rating. Covestro also has the same survey conducted for the sustainability performance of its suppliers. This is done as part of the "Together for Sustainability" initiative - a consortium of leading chemical companies with the goal of establishing a global standard for sustainable supply chains in the industry.
With 2018 sales of EUR 14.6 billion, Covestro is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 16,800 people (calculated as full-time equivalents) at the end of 2018.
EcoVadis is the world's most trusted provider of business sustainability ratings, intelligence and collaborative performance improvement tools for global supply chains. Backed by a powerful technology platform and a global team of domain experts, EcoVadis' easy-to-use and actionable sustainability scorecards provide detailed insight into environmental, social and ethical risks across 198 purchasing categories and 155 countries. Industry leaders such as Johnson & Johnson, Verizon, L'Oréal, Subway, Nestlé, Salesforce, Michelin and BASF are among the more than 55,000 businesses on the EcoVadis network, all working with a single methodology to assess, collaborate and improve sustainability performance in order to protect their brands, foster transparency and innovation, and accelerate growth. Learn more on ecovadis.com, Twitter or LinkedIn.
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This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.