HELSINKI, Dec. 22, 2023 /PRNewswire/ -- Outokumpu, the global leader in sustainable stainless steel, has received the highest Platinum level recognition from the sustainability rating platform EcoVadis. Today, Outokumpu ranks among the top 1% of more than 100,000 companies assessed based on its strong performance in sustainability. This is not the first time Outokumpu receives the Platinum recognition, but this year, Outokumpu scored its all-time high points.
EcoVadis assesses companies in line with global standards such as GRI and UN Global Compact, and the assessment evaluates 21 sustainability criteria across four core themes: Environment, Labor & Human Rights, Ethics and Sustainable Procurement.
"We are proud to see our commitment to sustainability being recognized to be among the top 1% of companies assessed by EcoVadis. We launched an ambitious sustainability strategy in 2021 and continuously work and progress towards our targets. Outokumpu has an ambitious climate target approved by Science Based Targets aligned with 1.5 degrees, and we are committed to reduce direct, indirect and supply chain emission intensity by 42% by 2030. We have been able to reduce our emission intensity by 20% since 2016 and continue to work towards the target. We are incredibly happy to see that EcoVadis also acknowledges the progress we have made across all areas in sustainability," says Heidi Peltonen, Vice President, Sustainability.
As part of its ambitious sustainability strategy, Outokumpu also targets to use over 90% recycled material content in production and improve energy efficiency by 8% by the end of 2024. Besides the ambitious climate work, Outokumpu aims to increase the amount of diverse leaders by 30% by 2025 and is committed to the UN Guiding Principles on Business and Human Rights across its value chain.
"The steel industry as a whole is a major contributor to the transition - it accounts for 7-9% of global greenhouse gas emissions. The COP28 declaration with the ambition to keep the Paris Agreement 1.5°C goal within reach sends a strong message to accelerate climate work, and we believe that by leading the way in sustainability we can support our entire value chain in the green transition. Sustainability is driving not only our business decisions, but also our customers. Being recognized as a top performer by EcoVadis with a platinum rating proves that we are on the right track to continue our work and also support our customers in their ambitious sustainability commitments. Many thanks to our employees all over the world for their continuous commitment to ensuring our industry leadership in sustainability," Peltonen ends.
For more information:
Outokumpu's media desk, tel. +358 40 351 9840, e-mail media(at)outokumpu.com
Outokumpu Group
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SOURCE Outokumpu Oyj
