Since 2007, the EcoVadis rating agency has been assessing the sustainability performance of over 90,000 companies using a scale from 1 to 100. Gold status is awarded from 67 points and Platinum status from 75 points. The EcoVadis rating takes into account 21 criteria from the fields of environment, labor and human rights, ethics, and sustainable procurement.
The rise in the Dürr Group’s sustainability rating is the result of various improvement measures. These include the introduction of a new system for categorizing sustainability risks regarding suppliers. The implementation of the Dürr Group Integrity Line, an anonymous whistleblower system, was also considered. Furthermore, in November 2021, the Dürr Group published a comprehensive climate strategy with scientifically validated targets to reduce greenhouse gas emissions. This demonstrates the company’s commitment to complying with the 1.5-degree target set out in the Paris Climate Agreement. In addition, the 2020 sustainability report, which was prepared in accordance with the standards of the Global Reporting Initiative (GRI) for the first time, provided more depth of information around the topic of sustainability.
“The further improvement in our rating by EcoVadis rewards our efforts made so far in the field of sustainability,” explains Dr. Jochen Weyrauch, CEO of Dürr AG. “The rating shows not only our strengths but also the potential for improvement. That way, we can identify reference points for future sustainability measures and further improve our ESG performance. Our goal is to achieve Gold status in the next assessment.”
Thanks to the improved rating, the Dürr Group can lower its financing costs in 2022 and 2023 by a total of €270,000. This is because the interest rates of several financing instruments are linked to the EcoVadis rating. It means that conducting business in an ecologically and socially responsible way also benefits the company financially, for example through lower interest rates or through avoiding compensation payments.