BURLINGTON, ON, Jan. 17, 2022 /CNW/ - EcoSynthetix Inc. (TSX:
ECO) ("EcoSynthetix" or the "Company"), a renewable chemicals
company that produces a portfolio of commercially proven bio-based
products, today announced that it has received a Platinum
designation by EcoVadis, a globally recognized agency for business
sustainability ratings of supply chains. By achieving the Platinum
rating, EcoSynthetix scored within the top one percent of the
85,000 companies rated.
"Retailers and manufacturers are placing more and more emphasis
on who participates in their supply chains and the sustainability
profile of their suppliers. We are increasing our disclosure and
transparency with established ratings organizations to ensure the
broadest possible market awareness of the positive sustainability
attributes of our biopolymers and the impact they can have on a
manufacturer's carbon footprint, as well as our overall
environmental, social and governance practices. This Platinum
recognition from EcoVadis is the first result of that approach,"
said Jeff MacDonald, CEO of
EcoSynthetix. "As sustainable and healthier alternatives to
conventional petroleum-based binders, our biopolymers provide
material benefits to a manufacturer's impact on the environment.
Many companies have established and promoted ambitious goals for
reducing their carbon footprint significantly by 2030. EcoSynthetix
expects to be climate positive in 2022, which demonstrates the
impact we can have for our customers' supply chains."
The EcoVadis scorecard provides an independent assessment of a
company's sustainability management system performance. It measures
21 corporate social responsibility criteria, grouped into four key
areas: Environment, Labour & Human Rights, Ethics and
Sustainable Procurement. The Platinum designation is the
highest rating and only one percent of the companies measured
attain this designation. EcoVadis' evidence-based ratings are
validated by a global team of experts and are adapted to more than
200 industry categories, 160 countries, and companies of all sizes.
Its actionable scorecards provide benchmarks, insights, and a
guided improvement journey for environmental, social and ethical
practices.
A climate positive company enables carbon footprint reductions
by customers through the use of its products or technology that
avoid 100% of the carbon emissions associated with the business.
EcoSynthetix expects to generate a 1:1 carbon cover in 2022, making
EcoSynthetix a climate positive company.
As part of its broader approach to sustainability, the Board of
Directors of EcoSynthetix has approved the Company's Environmental,
Social & Governance Policy. EcoSynthetix has established
Environmental Stewardship, Social Responsibility and Governance as
its key ESG principles together with three core pillars and the
metrics that it will use to report progress.
- People: Reflects the ability of EcoSynthetix to attract
and retain fully engaged, diverse employees and to ensure the
health and safety of our people. Measures include diversity and
health and safety reporting.
- Planet: Reflects the Company's dependencies and impacts
on the natural environment. Measures in this pillar include
greenhouse gas emissions from internal footprint, sustainability
advantages of its products in the market and product
innovation.
- Governance: Reflects the Company's purpose, strategy and
accountability. Measures include criteria for managing risk and
ethical behaviour.
About EcoSynthetix Inc. (www.ecosynthetix.com)
EcoSynthetix, a 2022 climate positive company, offers a range of
sustainable engineered biopolymers that allow customers to reduce
their use of harmful materials, such as formaldehyde and
styrene-based chemicals. The Company's flagship products, DuraBind™
and EcoSphere®, are used to manufacture wood composites, paper and
packaging, and enable performance improvements, economic benefits
and carbon footprint reduction. The Company is publicly traded on
the Toronto Stock Exchange (T:ECO).
SOURCE EcoSynthetix Inc.