Sustainability: BORG Automotive improves its Ecovadis rating in 2023 as well
BORG Automotive, Europe’s largest remanufacturer of automotive spare parts, had itself evaluated again in 2023 by Ecovadis, the world’s leading provider of sustainability ratings. As in 2022 and 2021, the company was awarded “Bronze” status. The remanufacturer also made a big leap forward in the ranking of the companies assessed overall.
BORG Automotive had already improved significantly from 2021 to 2022 in several of the evaluation categories. A trend that continues in the current rating and is reflected not least in the company’s position compared to other assessed businesses. While BORG Automotive ranked among the top 43 percent in 2022, it moved up by a full nine percentage points towards the top third in 2023 and is now among the leading 34 percent of participating companies. A success which is all the more pleasing given that the Ecovadis assessment standards were made stricter last year. For example, the threshold values and the admission criteria for medals were tightened.
“Sustainable corporate governance is extremely important to us – after all, as part of the circular economy, we place special demands on our work,” says Sten Højland, Director of Compliance at BORG Automotive. “We are proud to have been able to improve as in previous years, even when applying the new assessment standards. We will do everything we can to continue this development in 2024.”
The goal is ambitious, as Ecovadis tightened the criteria once again on January 1. Bronze will only be awarded to firms that are among the top 35 percent of the companies surveyed. In addition, at least 30 points must be achieved in all four categories – human resources, environment, ethics, and responsible purchasing. It will therefore no longer be possible to compensate for a negative result in one category with an outstanding result in another. And last but not least, no medals will be awarded even if the figures are positive if critical incidents are observed during the assessment period.
Sten Højland: “We very much welcome the stricter rules. They make the rating even more reliable, transparent, and credible – qualities which are essential in our industry.”