Shima Seiki
Hanson Wade

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IVL recognised with EcoVadis Gold Level

Indorama Ventures, a global chemical producer, has been once again recognised for its efforts in developing its sustainability performance.

1st February 2019

Knitting Industry
 |  Bangkok

Knitted Outerwear, Technical Textiles

EcoVadis is a prominent industry-leading monitoring platform that allows assessed companies to gain visibility and control of sustainability reporting across their business, drive improvements in their subsidiaries and assess their sustainable procurement. It aims to assist the public sector to become more transparent in their business practices and mitigate any risks that would harm the organisation’s reputation and bottom line, as well as focus on dedicating themselves to lowering the impact on the Environment, Labor & Human Rights, Ethics and Sustainable Procurement. EcoVadis’ rating has been used widely amongst top customers and suppliers, helping them to access their information, leading to sustainable supply chain best practices. 

In 2018, having well exceeded performances in lowering the company’s impact in the aforementioned four areas by implementing practical and comprehensive policies for its sustainable practices, IVL was recognised as one of the top 3% of suppliers evaluated by EcoVadis: Gold Level.

In September, the company was listed in the Dow Jones Sustainability Index (Emerging Markets). Later, in November, IVL also announced its commitment to further increase its use of post-consumer polyethylene terephthalate (PET) and polyester waste materials as feedstock for the future. Finally, last month, the company was once again recognised by the Carbon Disclosure Project (CDP), a global organisation that recognises the efforts companies put into preventing dangerous climate change and environmental damage. Indorama Ventures has also been included in the FTSE4Good Index for the second consecutive year, following FTSE Russell 2018 index review in June 2018.

“As a leader in the industry, IVL has been providing information of its business with transparency for many years to ensure that the company maintains the highest levels of corporate governance and transparency to its stakeholders, which is central to IVL’s philosophy,” the company says.

“The company strongly believes that to conduct a sustainable business, with excellent supply chain risk management and risk monitoring, is necessary for mitigating risks and preventing potential losses. IVL takes part each year in the EcoVadis assessment to evaluate its efforts in sustainable practices and help leading buyers who are engaging in sustainable development to protect the reputation of their brands, respond to increasing mandated regulations, find new innovative suppliers who possibly improve their efficiency resulting into greater profits.”

Indorama Ventures is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and North America. The company’s portfolio comprises Necessities and High Value-Added (HVA) categories of polymers, fibres, and more.

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