WEG achieves GOLD rating by EcoVadis
03 January 2024
Motor and drive manufacturer, WEG, has achieved GOLD rating by EcoVadis, a globally recognised sustainability assessment platform. WEG was awarded an impressive overall score of 72 in its 2023 assessment, ranking it among the top five per cent of over 100,000 companies in 175 countries.
The achievement provides an external trustmark to reinforce WEG’s global ethos of driving efficiency and sustainability.
EcoVadis, launched in 2007, serves as a third-party sustainability platform, helping businesses in better understanding and comparing sustainability performance across their operations and supply chain. To date, the platform has evaluated more than 100,000 companies spanning 175 countries.
As the leading global provider of corporate sustainability ratings, it presents a thorough assessment of Environmental, Social and corporate Governance (ESG) performance. To attain a rating, an organisation needs to provide evidence-based evaluations and monitoring across 21 key sustainability issues surrounding the pillars of environment, labour and human rights, and ethics and sustainable procurement.
WEG was judged on criteria’s including technical innovation, environmental awareness and customer service by a panel of industry leaders and independent experts with additional votes from readers of online industry media.
The methodology is based on international sustainability standards, including the ten principles of the UN Global Compact, the International Labor Organisation (ILO) conventions and the UN Guiding Principles on Business and Human Rights.
“Comprehensive third-party reviews, like the EcoVadis assessment, help us understand how our environmental credentials compare to other businesses. The assessment allows us to identify any changes we can make and ultimately inspires us to set and achieve new targets in sustainability,” said Marek Lukaszczyk, Europe and Middle East Marketing Manager at WEG. “The gold standard from EcoVadis show that we prioritise compliance with regulations and set new benchmarks for sustainable practices in the market.”
WEG is a signatory of the UN’s Sustainable Development Goals (SDG) and continuously aims to improve processes that reduce environmental impact by conserving natural resources and management of the emission and waste generation of its products.
To learn more about WEG’s sustainability actions, visit the website.
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