For the second consecutive year, Chevron Phillips Chemical LLC has improved its ratings in a global sustainability assessment conducted by EcoVadis, placing it in the top 24% of companies in the industry.
CPChem received the results of its assessment in November.
Sustainability is integral to CPChem and is embedded in its company strategy and across the organization to address its impacts as CPChem advances toward a more sustainable future, said Benny Mermans, CPChem’s Vice President of Sustainability.
“CPChem is committed to continuously improving and progressing toward our sustainability goals,” Mermans said. “This year’s increased ratings in ethics and sustainable procurement highlight our team’s efforts to advance CPChem’s sustainable practices, and we will endeavor to further enhance our performance in the new year.”
The 12-month assessment rates companies on their progress in four key areas: the environment, labor and human rights, ethics and sustainable procurement. The ratings are valid for 12 months.
CPChem’s EcoVadis Ratings
CPChem’s EcoVadis score increased from 57% to 60% over the past year, placing it in the top quarter of companies assessed by EcoVadis during this period, according to the assessment.
CPChem’s scores in Ethics and Sustainable Procurement improved. In both subjects, the company’s scores increased from 60% to 70%. These ratings place CPChem in the top 10% within the industry for Ethics, and the top 5% within the industry for Sustainable Procurement.
CPChem’s comprehensive and detailed ethics and compliance policies and related practices were specifically commended in the assessment.
CPChem maintained a score of 70% for Labor & Human Rights, which places CPChem in the top 14% within our industry for this subject. Enhanced information found in reports, such as CPChem’s Chemisphere at Work, as well as an alignment with the Global Reporting Initiative (GRI) Index significantly contributed to CPChem’s score.
The Paris-based EcoVadis, a global provider of business sustainability ratings, operates as a collaborative performance improvement tool for global supply chains. Completing the EcoVadis Sustainability Assessment has become a common practice within the petrochemical industry, driven by a global call for suppliers to achieve standards and report metrics related to sustainability performance.