Outokumpu has received the highest Platinum level recognition for the second year in a row from the sustainability rating platform EcoVadis. The Platinum level rating indicates that Outokumpu is among the top 1% of the over 85,000 companies evaluated.
“We are happy to continue on the highest Platinum level in the EcoVadis rating and to be among the top 1% sustainability performers. We have made good progress in sustainability and launched our more ambitious sustainability strategy and targets last year. We are pleased to see that our total score in the assessment increased from last year reflecting our strong commitment to sustainability. We aim to continue improving our scores even further and strengthen our position as the industry leader in sustainability”, says Juha Erkkilä, Vice President, Group Sustainability at Outokumpu.
EcoVadis assesses companies in respect to environment, labor and human rights, ethics and sustainable procurement. EcoVadis assesses companies in line with global standards such as GRI and UN Global Compact. As a part of its sustainable sourcing initiative, Outokumpu partnered with EcoVadis in 2021 to evaluate the sustainability performance of its raw material suppliers.
Outokumpu has recently improved its performance in other ESG ratings as well. In February 2022, Outokumpu was included in the S&P Global’s Sustainability Yearbook and in the latest Carbon Disclosure Project's (CDP) assessment in 2021, Outokumpu received the second highest B rating for its climate action and upgraded to grade C in CDP’s water assessment. Outokumpu has improved its ratings also in MSCI and Sustainalytics ESG ratings.
“At the same time, when we have put in place a more ambitious sustainability agenda and improved our ESG ratings, we see increasing need for more robust processes especially in assessing our own supply chain. This will be one of our key focus areas in 2022”, says Juha Erkkilä.
As the leader in sustainable stainless steel production, sustainability is at the core of Outokumpu. Outokumpu updated its sustainability strategy and climate targets in 2021 committing to the Business Ambition for limiting global warming to 1.5°C.
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