For the third time running, we achieved the EcoVadis Gold Medal for our sustainability management system and performance. Achieving gold puts us in the top 7% of all companies rated in our sector globally.
EcoVadis is a supplier evaluation platform that uses evidence-based assessments to rate the sustainability performance of over 85,000 organisations, across 200 industries and in 160 countries. The platform independently evaluates a broad range of non-financial management systems including Environment, Labor & Human Rights, Ethics and Sustainable procurement. The assessment uses a methodology aligned to international sustainability standards such as the Global Reporting Initiative, UN Global Compact and ISO 26000. Suppliers are scored out of 100 and provided with guidance on their strengths and areas for improvement. This supports assessed companies in focusing their sustainability efforts and developing corrective action plans to improve their sustainability performance.
Innospec has actively taken part in the EcoVadis supply chain sustainability platform assessments since 2014; previously achieving Silver Ratings. This year, we were pleased to announce that Innospec has achieved a Gold Rating for our sustainability performance, for the third time running. Achieving a gold medal puts Innospec in the top 7% of all companies evaluated in our sector globally. In addition, we are recognized as 'Advanced' in the environment, ethics and sustainable procurement categories. Our next assessment is due to take place in 2023.