Vattenfall's sustainability work has once again been awarded Gold rating and achieves a higher rating than last year. This, according to an independent survey by EcoVadis who assess and rank the CSR performance of companies.
"We are thrilled to have had our Gold rating reconfirmed and to have excelled past last year's rating. Sustainability efforts are becoming more and more important and the ranking clearly confirms that we are doing the right thing and that we have a good focus on sustainability issues," says Annika Ramsköld, Head of Sustainability at Vattenfall.
It is becoming more apparent that sustainability is of great importance to investors and corporate customers and, in many cases, may even be decisive as to whether or not a deal is made. When speaking with partners, Vattenfall has learned that many demand an independent review of CSR (Corporate social responsibility) efforts. CSR is all about the responsibility companies take for the effect they have on society and their surroundings, socially, financially, environmentally and beyond what legislation requires.
"Our customers, investors and other stakeholders demand that we operate responsibly and that we are clear and transparent in our sustainability work. According to the feedback we receive, they feel we have successfully managed to integrate sustainability into our operations. In the past year, we have invested in being more transparent in our communication and to give clear examples. External reviews, such as EcoVadis', have a great impact and encourage us to excel further," says Ramsköld.
The independent rating agency, EcoVadis globally reviews, rates and ranks companies that put efforts into sustainability. Their methodology builds on international CSR standards including the GRI (Global Reporting Initiative), the UN Global Compact and ISO 26000.
To reach EcoVadis' Gold rating, companies must score between 62 and 100 on their scale. Vattenfall achieved 73 points, an increase from the 65 points achieved in 2017. The outcome is also well above the industry average of 42 points.
The themes that are assessed are: Environment, Labour Practices & Human Rights, Fair Business Practices and Sustainable Procurement.
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