WACKER Scores Platinum in EcoVadis Rating
Munich, Mar 04, 2020
WACKER has received the platinum recognition level from EcoVadis for 2020. The company’s rating rose from 72 to 75 points. It now ranks among the top 1 percent of the highest-scoring companies.
As a member of Together for Sustainability, WACKER not only evaluates its suppliers in terms of sustainability, but also subjects its own performance as a supplier to external rating by EcoVadis. The company joined Together for Sustainability (TfS) in 2015. Established in 2011, the organization aims at developing a global program for responsible procurement of goods and services and improving the ecological and social standards of suppliers.
Suppliers are evaluated by two methods: firstly, suppliers are assessed on the basis of a questionnaire they fill out on the EcoVadis platform. They then receive an evaluation. Secondly, through audits conducted by TfS-certified companies.
The EcoVadis questionnaire is based on internationally recognized sustainability standards and the principles upheld by Global Compact and Responsible Care®. The evaluation covers 21 criteria. Adapted to the supplier’s sector, they relate to the environment, work practices and human rights, fair business principles and sustainable supply-chain management. The guidelines are weighted at 25 percent, actions at 40 percent and results at 35 percent.
EcoVadis specialists analyze the information provided by the suppliers, add their own research findings and summarize the results in a scorecard. In all categories, WACKER’s performance was above average, led by its gains in the supply-chain-management rating.
The advantage of the EcoVadis questionnaire is that it can be shared with customers on request, WACKER’s score means it can offer its customers standardized and recognized certification of its own sustainability performance. This fosters collaboration and good stewardship of resources.
More information at the WACKER Sustainability Report.