Innospec Achieves Gold Rating in EcoVadis CSR Assessment for the Second Consecutive Year

Rhea-AI Summary

Innospec (NASDAQ: IOSP) has achieved a Gold Rating in sustainability from EcoVadis for the second consecutive year, placing it in the top 5% of its sector globally. The recognition highlights Innospec's commitment to Corporate Social Responsibility (CSR), with ongoing investments in technologies and facilities aimed at enhancing customer CSR initiatives. This rating reflects the company's improved management systems and practices across key areas: environment, social engagement, and governance.

Positive

• Achieved Gold Rating from EcoVadis for sustainability performance.
• Ranked in the top 5% of companies in its sector globally.
• Continued investments in new technologies and facilities to support CSR initiatives.

Negative

• None.

ENGLEWOOD, Colo., Nov. 17, 2020 (GLOBE NEWSWIRE) -- Innospec (NASDAQ: IOSP) today announced it has been awarded a Gold Rating in sustainability performance by EcoVadis, for the second year in a row. Achieving a gold medal puts Innospec in the top 5% of all companies rated in our sector Globally.

EcoVadis is a Corporate Social Responsibility (CSR) evaluation platform, which scores more than 65,000 companies. It uses a methodology aligned to CSR Standards such as the Global Reporting Initiative, UN Global Company and ISO 26000.

Patrick S. Williams, President and Chief Executive Officer, said, “We are pleased to once again achieve Gold recognition from EcoVadis. This rating is reflective of the strong focus that our company has on CSR. In addition, we continue to invest in new technologies and facilities which will support our customers in their own CSR initiatives.”

Helen Coy, Group Sustainable Development Manager, said, “At Innospec, we are working hard to improve our performance across all key areas of our Responsible Business Strategy: environment, social engagement and governance. It is great to see that our management systems, policies and practices continue to improve each year along with our EcoVadis score. Maintaining our Gold medal status is a reflection of that.”

To learn more about Innospec’s approach to corporate responsibility and sustainability, please read the 2019 Innospec Responsible Business Report by visiting https://innospecsustainability.com/.

About Innospec Inc.

Innospec Inc. is an international specialty chemicals company with approximately 2000 employees in 24 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific.  The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil and gas exploration and production industry.  The Performance Chemicals business creates innovative technology-based solutions for our customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets. Octane Additives produces octane improvers to enhance gasoline.

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements.  Such forward-looking statements include statements (covered by words like “expects,” “estimates,” “anticipates,” “may,” “believes,” “feels,” “plan,” “intend” or similar words or expressions, for example) which relate to earnings, growth potential, operating performance, events or developments that we expect or anticipate will or may occur in the future.  Although forward-looking statements are believed by management to be reasonable when made, they are subject to certain risks, uncertainties and assumptions, including, the effects of the COVID-19 pandemic, such as its duration, its unknown long-term economic impact, measures taken by governmental authorities to address it and the manner in which the pandemic may precipitate or exacerbate other risks and/or uncertainties, and our actual performance or results may differ materially from these forward-looking statements.  Additional information regarding risks, uncertainties and assumptions relating to Innospec and affecting our business operations and prospects are described in Innospec’s Annual Report on Form 10-K for the year ended December 31, 2019, Innospec’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and other reports filed with the U.S. Securities and Exchange Commission.  You are urged to review our discussion of risks and uncertainties that could cause actual results to differ from forward-looking statements under the heading "Risk Factors” in such reports.  Innospec undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Corbin Barnes

Innospec Inc.

+44-151-355-3611

corbin.barnes@innospecinc.com

FAQ

What does the Gold Rating from EcoVadis mean for Innospec (IOSP)?

The Gold Rating from EcoVadis signifies that Innospec is recognized among the top 5% of companies in its sector for sustainability performance, reflecting strong Corporate Social Responsibility efforts.

How many years has Innospec (IOSP) received the Gold Rating from EcoVadis?

Innospec has received the Gold Rating from EcoVadis for two consecutive years.

What are the key areas of focus for Innospec's Responsible Business Strategy?

Innospec's Responsible Business Strategy focuses on environment, social engagement, and governance.

Where can I find more information about Innospec's sustainability initiatives?

More information can be found in Innospec's Responsible Business Report, available on their sustainability website.