DCM Shriram Achieves EcoVadis Bronze Medal for Sustainability Excellence
Team FS
10/Oct/2024
What's covered under the Article:
1. DCM Shriram has been awarded the Bronze Medal in the EcoVadis sustainability assessment, ranking in the top 35% globally in its sector.
2. The company improved its Sustainability Scorecard significantly, rising from 45 to 62 out of 100, highlighting its commitment to sustainable growth.
3. Chairman Ajay S Shriram emphasized the importance of sustainable practices in their operations and the aspiration to achieve even higher benchmarks.
DCM Shriram Ltd., a prominent conglomerate operating in the Agri-Rural, Chloro Vinyl, and Value Added sectors, has recently made headlines by being awarded the Bronze Medal in the EcoVadis sustainability assessment. This remarkable achievement signifies that DCM Shriram ranks in the top 35% of companies globally within its sector, demonstrating its commitment to integrating sustainable practices into its operations.
Improvement in Sustainability Score
This recognition comes as a testament to the company's dedication to improving its sustainability management system, which is evaluated through EcoVadis’s rigorous assessment framework. This framework assesses companies based on three critical management pillars: Policies, Actions, and Results. The methodology evaluates various aspects of a company's sustainability practices, including their impact on the environment, labor and human rights, ethics, and sustainable procurement. DCM Shriram’s strong performance reflects its ongoing commitment to responsible business practices and long-term sustainable development.
Significant Leap in EcoVadis Assessment
DCM Shriram's participation in the EcoVadis assessment has been noteworthy since this is the company's second consecutive year in the evaluation. Last year, DCM Shriram scored 45 out of 100 on the Sustainability Scorecard. However, this year, the company has made significant strides, improving its score to 62 out of 100. This substantial improvement not only underscores the company's efforts in aligning its operations with environmental, social, and governance (ESG) principles but also indicates its proactive approach toward sustainable growth.
Recognition and Commitment to Sustainability
Ajay S Shriram, the Chairman and Senior Managing Director of DCM Shriram Ltd, expressed pride in this achievement, stating, "We are honoured to receive the Bronze Medal from EcoVadis. This achievement not only reflects our persistent efforts to embed sustainable practices across our operations but also amplifies our commitment to pursuing excellence in environmental stewardship, ethical business practices, and social responsibility." His remarks highlight the importance of sustainability as a core value in the company's strategy and operations.
EcoVadis Assessment Overview
The recognition by EcoVadis places DCM Shriram among the leading companies that prioritize sustainability, reflecting a global trend where businesses increasingly recognize the importance of sustainable practices in enhancing their reputation and operational effectiveness. In an era where corporate sustainability is becoming a critical factor for investors and consumers alike, DCM Shriram’s commitment to maintaining high standards in sustainability is commendable.
The EcoVadis assessment evaluates over 130,000 companies worldwide, using a comprehensive methodology that covers 21 criteria across four main areas: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. By excelling in these criteria, DCM Shriram demonstrates its holistic approach to sustainability and its focus on creating long-term value for all stakeholders involved.
Conclusion: A Milestone in Sustainability
In conclusion, DCM Shriram’s recognition as a Bronze Medal recipient from EcoVadis is a significant milestone in its journey toward achieving sustainability excellence. The company's improvement in its sustainability score highlights its commitment to integrating ESG principles into its operations and ensuring a positive impact on society and the environment. As DCM Shriram continues to evolve and set higher benchmarks for itself, the company aims to maintain its momentum in sustainability, inspiring others in the industry to follow suit.
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