Grundfos, an advanced pump solutions and water technology company, has been awarded the prestigious Platinum medal rating from EcoVadis, placing the company in the top 1 per cent of over 130,000 rated companies worldwide for sustainability practices.
EcoVadis, one of the world’s largest providers of business sustainability ratings, evaluated Grundfos across four key areas: environment, labour & human rights, ethics, and sustainable procurement.
This achievement marks a significant improvement from the company’s previous Gold medal rating, reflecting Grundfos’ ongoing commitment to enhancing its environmental, social, and governance (ESG) practices.
Louise Koch, Senior Director and Group Head of Sustainability at Grundfos expressed pride in the achievement, stating: “The Platinum rating encourages us to keep pushing ourselves to enhance our ESG practices that include progressing towards net zero by 2050, fostering a fair, inclusive, and safe working environment, enforcing strong ethical business standards, and ensuring sustainable procurement across our entire value chain.”
Grundfos has made notable strides in its sustainability efforts, including:
- Environment: The company has a acience-based targets initiative (SBTi) validated 2050 net-zero target.
- Climate: Since 2020, Grundfos has reduced its CO2 emissions by 11.7 per cent (as of 2023). A new power purchase agreement is set to help the company meet its target of a 50 per cent reduction in operational carbon emissions by 2025, five years ahead of schedule.
- Water: In 2023, Grundfos solutions enabled customers and end users to save an estimated 1.6 billion cubic metres of water. The company also reduced water withdrawal in its own operations by 48 per cent since 2020.
- Labour & Human Rights: Grundfos has implemented robust policies and practices across its value chain to ensure a fair, inclusive, and safe working environment.
- Ethics: The company has put in place rigorous anti-corruption measures, conducts regular audits, and provides extensive training to maintain ethical practices throughout its operations.
Silvio Vanzo, Group Senior Vice President of Purchasing at Grundfos, emphasised the collaborative nature of this achievement, stating: “Achieving Platinum certification highlights Grundfos’ commitment to conduct business in a responsible way, but it also highlights the close collaboration and trust between us and our loyal suppliers and customers.”
This recognition from EcoVadis not only showcases Grundfos’ unwavering commitment to sustainable business practices but also reinforces its position as a leader in corporate responsibility within the pump solutions and water technology industry.
