SABIC’s CSR & Sustainability performance gets top ranking
We were placed in the top 1 percent of best performers in the industrial category 'Basic Chemicals, Fertilizers, Plastics & Synthetic Rubber Companies' last month by EcoVadis, which evaluated the sustainability and CSR performance of over 30,000 companies worldwide.
EcoVadis, reputed to be the world's most trusted provider of business sustainability ratings, made the evaluation based on the companies' scorecards and ratings across three calendar years -- 2016, 2017 and 2018 – in its third edition of the Global CSR Risk and Performance Index.
It has been assessing our sustainability and CSR performance for the last five years. The rating has progressively increased from 62 points in 2016, 68 in 2018, to 75 out of 100 points in 2019.
Commenting on the distinguished rating, VP Corporate Affairs Sami Al-Osaimi said, “The EcoVadis rating, which is based on the evaluation by suppliers through an online audit and a questionnaire, recognizes our CSR initiatives and sustainability commitment."
“As we continue to implement our 2025 strategy, enable Saudi Vision 2030 and support the UN's Sustainable Development Goals, we focus on diverse CSR programs as part of our ongoing efforts to support communities," he added.
Global CSR Sr. Manager Abdulrahman Al-Mulhem said, “We are proud of this recognition by a reputed provider of business sustainability ratings, which rates firms based on their sustainability and CSR performance. Our global CSR strategic priority areas are aligned with the UN Sustainable Development Goals. Guided by our RAISE strategy, we have been consistently engaging with social issues, from education to health to the environment and agriculture."
The EcoVadis CSR recognition levels are based upon the percentile ranking of a company's EcoVadis score: Gold - top 5% (overall score between 62 and 100), silver - top 30% (overall score between 46 and 61), bronze - top 65% (overall score between 37 and 45).
The rating methodology is built on international CSR standards including the Global Reporting Initiative, the United Nations Global Compact, and the ISO 26000 (social responsibility). These ratings cover four areas: Environment, labor & human rights, ethics, and sustainable procurement.
As part of the process to qualify their suppliers, many of our customers use the EcoVadis assessment reports. For instance, the business impact of customers requesting our full evaluation report amounted to approximately US$ 1.3 billion in 2018 globally. A higher score means a higher chance of becoming a preferred supplier. Some examples of requestors are Renault, Faurecia, Plastic Omnium, Schneider, BASF, DSM, Solvay, Akzo and Eastman.