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Achieving an overall score of 85 from 100 points, SONGWON is among the top 1% of the 73,000 businesses assessed worldwide.
July 22, 2024
By: KERRY PIANOFORTE
Editor, Coatings World
Songwon Industrial Co., Ltd., one of the world’s largest manufacturers of polymer stabilizers is proud to announce that it has been awarded a Platinum medal from EcoVadis for its sustainability performance. Scoring 85 out of a maximum of 100 points, this rating places SONGWON in the top 1% of the 73,000 companies assessed by EcoVadis across the globe.
After achieving Gold 5 times, being awarded Ecovadis’ highest platinum level for the 1st time is a significant sustainability milestone for SONGWON and underscores the organization’s unwavering commitment to sustainability objectives and transparency. For example, SONGWON recently developed a comprehensive carbon reduction roadmap in alignment with the Korean government’s Nationally Determined Contribution, which targets an 11.4% reduction in emissions within the chemical industry by 2030.
Commenting on this outstanding result, Thomas Schmutz, Leader Global Technology, Regulatory Affairs & Sustainability said: “At SONGWON, we are very proud to be awarded the Platinum medal which is a testament to the dedicated efforts and great progress made by our global sustainability team who continually strive for improvement in all of our sustainability efforts. Achieving a place among the top 1% of all companies evaluated highlights our deep commitment to meeting the highest CSR standards and to SONGWON’s ability to drive change as well as build a more sustainable future for future generations.”
EcoVadis is one of the leading industry reference platforms for evaluating how an organization has integrated the principles of sustainability into its business and management system. Trusted by over 700 major multinational corporations to monitor the CSR performance of their business partners, EcoVadis applies a comprehensive assessment framework that covers 4 key areas: environmental protection, labor and human rights, business ethics, and sustainable procurement. Based on international standards such as the 10 Principles of the UN Global Compact, ILO conventions, GRI standards and ISO 26000, EcoVadis’ sustainability ratings offer businesses valuable, evidence-based performance analysis and a valuable actionable roadmap for continuous improvement.
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