On May 12, Sinochem International announced that it won the silver medal rating in the latest review of EcoVadis, a globally recognized authority of professional CSR performance assessments, due to its excellent performance in CSR and sustainable development.
It was the third time for Sinochem International to participate in the EcoVadis rating. Its score significantly improved compared with that in its first rating in 2019, ranked among the top 19% in the industry, higher than the previous ranking of top 32%, indicating that its capacity for sustainable development has been on the rise year by year and has reached an industry leading level.
Liu Hongsheng, general manager of Sinochem International, said, "We regard sustainable development capabilities as one of the company's core competitiveness. EcoVadis Silver Medal Rating reflects our unremitting efforts to improve this core advantage. We will continue to pursue outstanding performance in environmental, social and governance aspects, and strive to build a model for sustainable development in the new chemical materials industry."
According to the rating report, Sinochem International has significantly improved its performance in sustainable development, particularly in labor rights and environment, which has a positive impact on its latest rating.
Since 2018, Sinochem International has incorporated sustainable development in its corporate strategy. It has established Sustainable Development Committee under the Board of Directors and the Sustainable Development Executive Committee at the management level, as well as five sub-committees of sustainable governance, health & safety, low-carbon development, labor rights, and sustainable supply chain. It formulates and delivers dozens of plans on sustainable development every year to constantly enhance its capacity for creating comprehensive economic, social and environmental value.
EcoVadis analyzes and evaluates enterprises' CSR performance in the categories of environment, labor & human rights, business ethics, and sustainable procurement, provides guidance for improvements, assists enterprises in raising their CSR levels, and enhances their public credibility and competitiveness in the international market.
The ranking criterion for EcoVadis sustainability ratings includes platinum (top 1%), gold (top 5%), silver (top 25%), and bronze (top 50%). So far, over 70,000 companies in the world have used EcoVadis to assess their CSR performance. The certification will be recognized by all the member companies of TfS (Together for Sustainability).