Firmenich achieves 88/100 EcoVadis rating, releases Environment, Social & Governance report
17 Jan 2022 --- Switzerland-based flavor and fragrance company Firmenich has been placed at the top 1% of the more than 85,000 companies inspected by EcoVadis, a corporate social responsibility (CSR) monitor. Firmenich increased its score by five points from last year to 88/100, having received EcoVadis’ highest Platinum rating for the second consecutive time.
“We are already humbled by our second consecutive top Platinum rating and improved overall score of 88/100, as well as EcoVadis scores of 90/100 in environment, labor and human rights and sustainable procurement practices,” Ingvild Van Lysebetten, Firmenich’s group vice president of corporate communications tells PersonalCareInsights.
“We know these are exceptional scores, and we also know the bar is set higher every year.”
The news comes with the release of the company’s Environment, Social & Governance (ESG) Report for 2021, detailing the progress Firmenich made within the area of sustainability and social responsibility.
According to Van Lysebetten, Firmenich’s approach to sustainability is centered on three aims: ambitious, measurable goals, transparency and collaboration with third-party organizations such as EcoVadis to support its performance.
The food and fragrance company aims for its operations to be completely carbon neutral by 2025.“We strive to align our long-term, strategic sustainability objectives in these three pillars over each decade with our business, and our annual materiality analysis helps to assess our performance on the way. That’s how we achieved 100% renewable electricity across all our operations worldwide by 2020, for example,” adds Van Lysebetten
She says the measures Firmenich is taking are comprehensive and reach all levels of the company hierarchy.
“Today, at every level, we are engaged in ESG, from the Board and our CEO, to our senior leadership team and every colleague in the company. We don’t specifically focus on each rating as such, we focus on the action we need to take for climate, for nature and for people,” she explains.
In the 2021 report, Firmenich says it managed to make 96.3% of its fragrance ingredients biodegradable, effectively closed gender pay gaps and established two carbon-neutral manufacturing sites. The company says it aims to make all its fragrances from 99% biodegradable ingredients in the future as a part of its Firmenich ESG Ambitions 2030.
Firmenich’s report also includes that it will ramp up its plant-based “green protein” operations by 2025, claiming it will contribute to soil regeneration.
Sustainability ratings in place of regulations
Increasingly, manufacturers and brands are faced with demands to prioritize public accountability and social responsibility in their business practices.
As governments worldwide have been relatively slow in implementing regulations compelling businesses to responsible practices, various organizations have arisen to monitor sustainable business practices, attempting to fill the gaps of government policy. Firmenich has expressed it is very much in favor of changing regulations to make companies more responsible.
“We need strong policies in areas such as the environment, anchored in science, from regulators to achieve our environmental targets faster and to drive momentum globally, across all industries,” affirms Van Lysebetten. “Businesses should step in where policies aren’t yet established.”
“Overall, our objective is clearly to create value for all stakeholders, value that stands the test of time,” she says.
Firmenich’s Chief Human Resource Officer, Mieke Van de Cappelle, says ratings like EcoVadis’ are gaining increasing influence over consumers. In her view, fulfilling standards set out by EcoVadis and
Partnering with third parties like EcoVadis is a central part of Firmenich's strategy. similar bodies is beneficial for all involved in the long run.
“Their ratings are a mark of credibility and gaining increasing recognition among our customers, as well as consumers. Partnering with these nonprofit organizations in a constant and regular manner allows us to collaborate, learn from each other’s successes and build a virtuous circle of successful, broad sustainable change,” states Van de Cappelle.
Monitoring sustainable business practices across the globe
EcoVadis is one of the “world’s most trusted” monitors of sustainable business practices.
When evaluating a company’s practices, the group inspects different areas of impact, “including Environmental, Labor & Human Rights, Ethics and Sustainable Procurement impacts.”
Ratings and evaluations drive improvement by offering suggestions on how companies can maximize their sustainability potential. Participant groups may also invite trading partners to be evaluated to help manage practices.
EcoVadis claims the rise of sustainability certifications has resulted in a “race to the top” where whole industries compete to achieve better practices.
“We’re not resting on any laurels; sustainability is a journey, and we are constantly striving to improve and raise the bar by setting ourselves strong targets,” Van Lysebetten proclaims.
Back in July, specialty chemicals manufacturer Azelis was also awarded Platinum status by EcoVadis. Recently, the bath and beauty brands Rituals obtained certification as a B Corporation through B Labs, another global CSR monitor.
By Olivia Nelson
