SKFs Recognition in Sustainability Efforts
SKF has been awarded a prestigious Platinum Medal by EcoVadis, a well-regarded provider of sustainability ratings, marking the fifth consecutive year this honor has been received. This notable recognition places SKF within the top 1% of over 130,000 global companies assessed for their commitment to sustainable business practices.
Dedication to Positive Change
Insights from SKF Leadership
Magnus Rosén, Head of Sustainability at SKF, expressed pride in receiving the EcoVadis Platinum Medal for the fifth time. He highlighted the collective efforts of their employees driving significant positive change within the organization. With a focus on sustainability, SKF remains committed to assisting its customers and stakeholders in their sustainability journeys.
Assessing Sustainability Criteria
A Comprehensive Evaluation
The EcoVadis evaluation criteria focus on 21 sustainability measures across four essential themes: Environment, Labour and Human Rights, Ethics, and Sustainable Procurement. SKF showcased a robust performance, particularly in advanced reporting on sustainability issues and the implementation of sustainability management systems.
Additionally, EcoVadis acknowledged SKF's ambitious decarbonization targets supported by scientifically validated goals, excellent coverage of ethical practices across operations, and a remarkable commitment to sustainable procurement actions. Efforts included the company’s supplier code of conduct and the education of buyers on social and environmental challenges linked to their supply chain.
International Standards Guiding Assessment
The evaluation process utilized by EcoVadis is grounded in several international sustainability standards, including the Ten Principles of the UN Global Compact, conventions established by the International Labor Organization (ILO), standards set by the Global Reporting Initiative (GRI), and the ISO 26000 standard. These benchmarks foster a comprehensive review of a company's sustainability performance and provide an actionable roadmap for ongoing development and improvement.
About Aktiebolaget SKF
Aktiebolaget SKF (publ) continues to lead in the manufacturing and supply of bearings, seals, and related products, helping businesses operate efficiently and sustainably. The ongoing recognition for its sustainability values highlights the company's integrated approach to environmental practices and solidifies its reputation within the industry.
Contact Information:
Press Inquiries: Sian How, Sustainability Communications Lead
Mobile: +447970 737470
Investor Relations: Sophie Arnius, Head of Investor Relations
Tel: 46 31-337 8072
Frequently Asked Questions
What is the EcoVadis Platinum Medal?
The EcoVadis Platinum Medal is awarded to organizations demonstrating exceptional performance in sustainability and responsible business practices.
How many times has SKF received the EcoVadis Platinum Medal?
SKF has been awarded the EcoVadis Platinum Medal for five consecutive years.
What are the criteria for the EcoVadis assessment?
EcoVadis evaluates sustainability based on Environment, Labour and Human Rights, Ethics, and Sustainable Procurement, considering various specific criteria across these themes.
What does SKF do to support sustainable practices?
SKF implements advanced reporting measures, sustainability management systems, ethical practices, and supports sustainable procurement in its operations and supply chain.
What international standards guide the EcoVadis ratings?
The ratings are based on various international standards, including the UN Global Compact principles, ILO conventions, GRI standards, and ISO 26000 guidelines.
