Odfjell is being rated by several analysis companies on our performance and risk related to sustainability. These analyses are based on publicly available information, such as the annual report and websites, and on comprehensive questionnaires and formatted reporting.
The end reports are made available to banks, customers, and other stakeholders, and serve various purposes: banks use the reports in their analysis and risk assessments, and many customers want to document that they only work with responsible vendors and ensure sustainability through their supply chain.
Sustainalytics provides institutional investors and companies with high-quality, analytical environmental, social, and governance (ESG) research, ratings, and data. They cover more than 20 000 companies and serve 19 of the top asset managers. Sustainalytics do an annual ESG risk assessment, meaning they assess the investment risk related to Environment, Social, and Governance matters. In these analyses, Odfjell is compared to peers (companies of the same size in the industry) and within our sector.
For 2020, we have improved in all areas. We are rated among the top 15% in shipping and placed as number one among our peers. We are also rated as number one among peers in the subcategories of Occupational Health and Safety and Business Ethics.
EcoVadis is the world’s largest provider of business sustainability ratings. They have a global network of more than 75,000 rated companies. Our customers can access the EcoVadis platform to get information about our sustainability performance data and rating.
Great efforts within our shipping and terminal organization, combined with improved reporting, have given results:
“We are happy to share that Odfjell has been awarded a gold medal, placing us among the top 5% of companies assessed by EcoVadis. This is a major step up from the bronze medal rating of last year, and a testament of the significant efforts done by the whole organization With these assessments we reach a level of reporting where we can benchmark ourselves with others, and get recognized for the extensive and well-documented work we do on ESG in Odfjell.“
Øistein Jensen, CSO
