WACKER Again Gets Gold in EcoVadis Rating
Munich, Feb 06, 2018
As a member of Together for Sustainability, WACKER not only evaluates its suppliers in terms of sustainably, but subjects its own performance as a supplier to external rating by EcoVadis. In 2018, the Group once again scored Gold in EcoVadis ratings. WACKER’s result has risen from 65 to 72 points. It now ranks among the top 3% of the highest-scoring companies.
In January 2015, WACKER joined the Chemistry sector’s Together for Sustainability (TfS) initiative. 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.
There are two methods for evaluating suppliers: Firstly, suppliers are assessed on the basis of a questionnaire they fill out on the EcoVadis platform. 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®. Adapted to the supplier’s sector, 21 criteria relating to the environment, work practices and human rights, fair business principles and supply-chain management are evaluated.
EcoVadis specialists analyze the information provided by the suppliers, add their own research findings and summarize the results in a scorecard. WACKER’s scores were above average in all categories and it improved its supply-chain-management rating.
The advantage of the EcoVadis questionnaire is that it can be shared with customers on request, enabling WACKER to offer customers standardized and recognized certification of its own sustainability performance. This fosters collaboration and good stewardship of resources.