We pride ourselves on being open and transparent about our performance, which is why our Responsible Business report is independently verified every year to ensure it is accurate and evidence based.
We also participate in a number of programs and initiatives to benchmark our performance against industry best practice and our peers.
CDP (formerly the Carbon Disclosure Project) is a global disclosure system that enables companies to measure and manage their environmental impacts. Through CDP data, investors are better able to mitigate risk and make investment decisions that drive action towards a more sustainable world.
In 2018, Innospec participated in the CDP Supply Chain Climate Change Disclosure Program for the fourth consecutive year, achieving a performance band score of C: Awareness. This score compares favourably with CDP's sector average for our industry of D, and with the region average of D.
For the first time in 2018, we also submitted a CDP Water Security Measures Supply Chain questionnaire. We achieved an initial baseline score of D: Disclosure from which to build on.
We were also rated B- in the Supplier Engagement Rating (SER) assessment, again comparing very favourably with the CDP program average and region / country average score of D. This assessment aims to highlight active supplier engagement strategies, successful supply chain management and opportunities to minimize environmental impacts within the value chain. Find out more in our Supply Chain Management Section.
For further information visit the CDP website.
EcoVadis is a supplier evaluation platform that uses evidence-based assessments to rate the CSR performance of over 55,000 organisations, across 198 industries and in 155 countries. The platform independently evaluates a broad range of non-financial management systems including Environmental, Labor & Human Rights, Ethics and Sustainable impacts. The assessment scores suppliers out of 100 and provides guidance on the suppliers' strengths and areas for improvement. This supports assessed companies in focusing their sustainability efforts and developing corrective action plans to improve their CSR performance.
Innospec has actively taken part in the EcoVadis supply chain sustainability platform assessments since 2014; previously achieving Silver Ratings. Earlier in 2019 we were very proud to announce that we had been awarded a Gold Rating for our sustainability performance, putting Innospec in the top 5% of all suppliers evaluated. In addition we are recognized as 'Advanced' in the environmental category, positioning us in the top 9% of chemical companies assessed in 2018. Our next assessment is due to take place in 2020.