Firmenich Achieves Top EcoVadis Platinum Sustainability Rating, Ranking in the Top 1%
GENEVA, Switzerland, Jan. 29, 2020 /PRNewswire/ -- Firmenich, the world's largest privately-owned Perfume and Taste, company has today received the highest Platinum rating from EcoVadis for environmental and social performance, placing the Group in the top 1% of the 60,000 suppliers assessed. The world's most trusted business sustainability rating agency awarded Firmenich its best ever score, 83/100, recognizing it as one of the most responsible companies in the world, and the industry leader for Fragrance and Flavors.
"This world-class Platinum recognition from EcoVadis shows we are leading the way with our environmental and social goals," said Gilbert Ghostine, CEO Firmenich. "This award is a tribute to the dedication of all my colleagues, working hard every day to ensure our business is a force for good for people, planet and society."
"Reaching a Platinum rating demonstrates our continuous improvement and the delivery of our Pathways to Positive strategy" said Dr. Bérangère Magarinos-Ruchat, Chief Sustainability Officer, Firmenich. "We are proud to have embarked on the EcoVadis rating process several years ago because it not only facilitates company transformation but also drives integration of Environmental, Social and Governance (ESG) risks in the industry and along the supply chain. We need this type of standardization process to scale up sustainable supply chains".
"Firmenich's scorecard has earned them EcoVadis' newest and highest medal status of Platinum, and demonstrates their steadfast commitment to excellent sustainability performance," declared David McClintock, Marketing Director at EcoVadis. "By meeting our Platinum requirements, which includes being in the top one percent, they prove that family and privately-owned companies can rank among the very top sustainability performers."
EcoVadis evaluated Firmenich's sustainability performance according to 21 criteria and four categories, cutting across environment, labor and human rights, ethics and sustainable procurement practices. Firmenich's sustainability policies, initiatives and results were analyzed using recognized international sustainability standards. EcoVadis assessed more than 60,000 companies in 198 industries and 155 countries. This year, Firmenich achieved an EcoVadis score of 83 out of 100 points, placing it in the agency's new top category, comprising 1% of suppliers in the industry segment. -- a "platinum" status rating. In 2018, the Group had achieved an EcoVadis score of 82 out of 100 points.
Advancing its commitment to the most ethical, traceable and sustainable supply chain, Firmenich is constantly improving transparency across its operations. Most recently the Group was awarded the first ever IMD-Pictet Sustainability in Family Business Award for its exemplary efforts to embed responsible practices throughout its business.
Learn more about Firmenich's sustainability leadership and goals in its Performance and Sustainability Report 2019. To view it, click here.
Firmenich is the world's largest privately-owned perfume and taste company, founded in Geneva, Switzerland, in 1895. Driven by its purpose to create positive emotions to enhance wellbeing, naturally, Firmenich has designed many of the world's best-known perfumes and tastes, bringing delight to over four billion consumers every day. Renowned for its world-class research and creativity, as well as its leadership in sustainability, each year, Firmenich invests 10% of its turnover in R&D to understand and share the best that nature has to offer responsibly. Firmenich had an annual turnover of 3.9 billion Swiss Francs at end June 2019. More information about Firmenich is available at www.firmenich.com
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