SKF awarded EcoVadis Platinum Medal for fifth consecutive year

SKF has been awarded a Platinum Medal by EcoVadis, one of the most trusted providers of sustainability ratings for use in supply chains, for the fifth consecutive year. The Platinum Medal is the highest level of recognition from EcoVadis and it places SKF in the top 1% of over 130,000 companies assessed globally for its commitment to sustainable business practices. “Receiving the EcoVadis Platinum Medal for the fifth year in a row is a proud moment for us. This award highlights our dedication to sustainable business practices and reflects the efforts of our many colleagues to drive positive change. We will continue taking action to achieve impact in sustainability, as well as supporting our customers and stakeholders with their own sustainability progress.” says Magnus Rosén, Head of Sustainability at SKF. The EcoVadis assessment evaluates 21 sustainability criteria across four core themes: Environment, Labour and Human Rights, Ethics and Sustainable Procurement. SKF’s rating identified several strengths across the Group’s business, including advanced reporting on sustainability issues and sustainability management systems. As well as scoring highly across all areas, EcoVadis highlighted SKF’s strong decarbonization ambition with approved science-based targets, the high level of coverage of ethics actions throughout company operations and an exceptional level of sustainable procurement actions. SKF’s supplier code of conduct and training of buyers on social and environmental issues within the supply chain was also noted. EcoVadis’ business sustainability ratings are based on international sustainability standards, such as the Ten Principles of the UN Global Compact, the International Labor Organization (ILO) conventions, the Global Reporting Initiative (GRI) standards and the ISO 26000 standard. The ratings provide an evidenced-based analysis on performance and an actionable roadmap for continuous improvement.