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We support a number of international principles and commitments and are included in several sustainability indices. This is important recognition of our efforts in the area of sustainable business. It also shows our customers that we are a sustainable supplier, striving to make them more sustainable too.
We are participants of the UN Global Compact, a voluntary initiative based on a commitment to implement universal sustainability principles and to take steps to support UN sustainability goals.
By our participation, we commit to applying the UN Global Compact's ten principles in business strategy and operations around the world and to catalyze business action in support of UN goals and issues with an emphasis on collaboration and collective action.
The UN Global Compact enjoys the support of the United Nations General Assembly and has additionally been recognized in a number of other inter-governmental contexts.
Sandvik has been a participant of the Global Compact since 2013.
World leaders have committed themselves to 17 Global Goals for Sustainable Development (SDGs). Sandvik has defined the goals that are most relevant for the company and to which we actively contribute.
Our climate targets are approved by the Science Based Targets initiative (SBTi), as aligned with the latest climate science and consistent with the goals of the Paris Agreement.
Sandvik discloses its environmental impact through CDP, a non-profit organization that runs a global leading environmental disclosure platform.
CDP is used by, for example, companies, states and cities to disclose their environmental data as well as track and benchmark progress.
Sandvik reports yearly through Ecovadis to share our sustainability metrics and progress.
EcoVadis is a provider of business sustainability ratings, including more than 75,000 companies in its assessment. The Ecovadis rating covers a wide range of CSR topics, including environment, labor and human rights, ethics and sustainable procurement. Their methodology is based on leading standards such as ISO 26000 and GRI.
Sandvik is a constituent of the Ethibel Sustainability Index (ESI) Excellence Europe. The selection by Forum ETHIBEL indicates that we are among the top performers in our sector in terms of sustainability.
Forum ETHIBEL's selections are largely based on research, carried out by the European rating agency Vigeo, which is responsible for data collecting and processing, performance analysis and industry benchmarking.
The composition of the indices is reviewed twice a year. The general aim of the periodical review of the index is to ensure that the selection and weighting of the constituents continues to reflect the underlying market or market segment it represents.
In composing the Ethibel Pioneer and Excellence Investment Registers Forum ETHIBEL selects companies playing a pioneering or leading role in their sector in terms of sustainability. The selection is based on a best-in-class approach combined with exclusionary criteria.
Sandvik is a constituent of the prestigious FTSE4Good Index Series, an index that measures Environmental, Social and Governance (ESG) performance practices in companies worldwide. This shows that our dedicated sustainability work delivers results.
FTSE (Financial Times Stock Exchange) is one of the most recognized sustainability indices worldwide. It evaluates companies based on publicly disclosed information in the three ESG-pillar containing over 300 indicators;
MSCI is a provider of ESG rating services. They offer assessments of companies' performance in the Environmental, Social and Governance areas, contributing to understanding the non-financial risks and opportunities associated with investments. MSCI's ESG ratings consider various factors, including carbon emissions, labor practices, board diversity and corporate governance structures.
Sustainalytics is a provider of ESG* rating services. They offer evaluations of companies' sustainability performance, assisting in understanding the non-financial risks and opportunities associated with investments. Sustainalytics' ESG ratings encompass a wide range of criteria, such as carbon footprint, human rights practices, supply chain management and diversity.
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*Environmental, Social and Governance