SABIC’s CSR and sustainability performance gets top ranking in EcoVadis index
18 Dec 2019
SABIC was placed in the top 1% of best performers in the industrial category ‘Basic Chemicals, Fertilisers, Plastics and Synthetic Rubber Companies’ last month by EcoVadis, which evaluated the sustainability and CSR performance of over 30,000 companies worldwide.
EcoVadis, reputed to be the world’s most trusted provider of business sustainability ratings, made the evaluation based on the companies’ scorecards and ratings across three calendar years – 2016, 2017 and 2018 – in its third edition of the Global CSR Risk and Performance Index.
It has been assessing SABIC’s sustainability and CSR performance for the last five years. The rating has progressively increased from 62 points in 2016, 68 in 2018, to 75 out of 100 points in 2019.
Commenting on the distinguished rating, Sami Al-Osaimi, VP, corporate affairs, SABIC, said: “The EcoVadis rating, which is based on the evaluation by suppliers through an online audit and a questionnaire, recognises our CSR initiatives and sustainability commitment.”
“As we continue to implement our 2025 strategy, enable Saudi Vision 2030 and support the UN’s Sustainable Development Goals, we focus on diverse CSR programmes as part of our ongoing efforts to support communities,” Al-Osaimi added.
Abdulrahman Al-Mulhem, global CSR senior manager, SABIC, said: “We are proud of this recognition by a reputed provider of business sustainability ratings, which rates firms based on their sustainability and CSR performance. Our global CSR strategic priority areas are aligned with the UN Sustainable Development Goals. Guided by our RAISE strategy, we have been consistently engaging with social issues, from education to health to the environment and agriculture.”
The EcoVadis CSR recognition levels are based upon the percentile ranking of a company’s EcoVadis score: Gold – top 5% (overall score between 62 and 100); silver – top 30% (overall score between 46 and 61); and bronze – top 65% (overall score between 37 and 45).
The rating methodology is built on international CSR standards, including the Global Reporting Initiative, the United Nations Global Compact, and the ISO 26000 (social responsibility). These ratings cover four areas: environment, labour and human rights, ethics, and sustainable procurement.
As part of the process to qualify their suppliers, many of SABIC’s customers use the EcoVadis assessment reports. For instance, the business impact of customers requesting SABIC’s full evaluation report amounted to approximately $1.3bn in 2018, globally. A higher score means a higher chance of becoming a preferred supplier. Some examples of requestors are Renault, Faurecia, Plastic Omnium, Schneider, BASF, DSM, Solvay, Akzo and Eastman.