Tate & Lyle PLC, a world leader in ingredient solutions for healthier food and beverages, announce that Institutional Shareholder Services (ISS) has upgraded its Environmental, Social and Governance (ESG) rating1 for Tate & Lyle to ‘Prime’, putting the Company in the top decile of the Food Products sector.
“Tate & Lyle is a purpose-led company with a strong desire to make a positive impact on society,” said Nick Hampton, Chief Executive Officer. “We are proud that our ESG performance and high level of transparency have earned us ISS’s Prime rating, underscoring our commitment to acting as a responsible business in everything we do.”
ISS is one of the world’s leading rating agencies for corporate governance and sustainable investments. ISS ESG Corporate Ratings score companies based on an analysis of more than 100 sector-specific ESG factors. ‘Prime’ status is awarded to companies with an ESG performance above the sector-specific Prime threshold, which means that they fulfil ambitious absolute performance requirements. According to ISS, the Prime rating classification qualifies Tate & Lyle for responsible investment.
Tate & Lyle’s ESG programme includes establishing science-based targets for reducing greenhouse gas emissions, sustainable agriculture programmes for corn and stevia, and a commitment to achieve net zero by 2050. It also comprises policies for employees on areas such as equal parental leave and clear targets to measure progress on equity, diversity and inclusion, including achieving gender equality in its top 500 leadership and management roles by 2025. Tate & Lyle is committed to contributing to the United Nations Sustainable Development Goals (SDGs) and is a signatory of the UN Global Compact.
1Prime rating calculated as of 20 July 2023
Global packaging company Elopak has been awarded an A+ score for excellent Environmental, Social, and Governance (ESG) reporting by sustainability consultancy Position Green. This places Elopak in the top 5 % of companies assessed.
Position Green’s ESG100 analysis examines the degree to which the corporate ESG reporting of the 100 largest listed companies in Sweden, Denmark, and Norway provides valuable financial and non-financial information for decision makers.
This year’s ESG100 report marks the sixth edition and presents an analysis and review of how prepared the 300 participating companies are for the introduction of the European Sustainability Reporting Standards (ESRS), which are due to take effect on 1 January 2024.
“We are incredibly proud to have been awarded an A+ grade. However, reporting is not the only part of the picture, we must also deliver on our goals, which is what we are working on going forward”, said Marianne Groven, Director of Sustainability at Elopak.
A+ is the highest grade the ESG100 assigns, meaning that Elopak ranks among the top 5 % of companies in Norway, Sweden and Denmark for its ESG reporting. Elopak was ranked fifth in Norway, which was also the country with the largest share of companies with an A+ ESG grade.
Groven added, “Elopak has been reporting on sustainability results for 15 years and we are extremely proud of the progress we have made. Our commitment to sustainability reflects the values of our customers and ultimately consumers so it makes sense that we are as transparent and accurate as possible.”
In 2022, Elopak became one of the first companies to set out targets approved by the Science Based Targets initiative (SBTi) to become a net zero company by 2050. The company is also a participant member of the United Nations (UN) Global Compact as part of its efforts to advance sustainability and work collaboratively to achieve the UN’s Sustainable Development Goals.
The full ESG100 report can be downloaded from Position Green here .
The aim of the collaboration is to leverage holistic supply chain solutions and provide supply chain participants with valid data.
Due to increasing regulatory requirements and consumer demands, transparent supply networks are essential. These developments are expected to accelerate, at the latest starting on January 1, 2023, when Germany’s new Supply Chain Due Diligence Act (LkSG) enters into force. Internationally, the United Nations Sustainable Development Goals (SDG) and the resulting internationally recognized standards also highlight the need for transparency in global supply networks. All existing and new processes supporting greater transparency require cooperation and a high degree of data integrity.
In an effort to address regulatory and individual company challenges and to offer corresponding solutions, GS1 Germany, together with its subsidiary F-Trace, will work closely with the certification organizations GLOBALG.A.P. and International Featured Standard (IFS). The aim of the strategic cooperation is to ensure transparency along entire supply chains and thus to efficiently fulfill the legislative requirements in the area of Environmental Social Governance (ESG).
Thomas Fell, Lead GS1 Germany, is convinced: “For the multitude of challenges regarding supply chain transparency, collaborative approaches and globally valid standards are the key. This cooperation brings us a big step closer to our goal of achieving the highest level of data quality and data integrity for our community.”
Stephan Tromp, Managing Director of IFS, adds: “Collaboration is essential for transparent supply chains. It is critical in meeting the growing demands of consumers and politics in the area of ESG. Together with F-Trace, GLOBALG.A.P. and GS1 Germany, we want to offer viable one-stop solutions for optimal supply chain management.”
To this end, the cooperation partners combine, among other things, established standards from the consumer goods industry and GS1 in the community platform “ftrace transparency”. This enables them to provide consistently valid data for all participants in their complex supply networks. Especially since GLOBALG.A.P. and IFS have already certified over 250,000 companies worldwide. Within the framework of the cooperation, from now on – by means of internationally recognized standards – the certified market participants can be optimally linked with each other.
Kristian Möller, Managing Director of GLOBALG.A.P., says: “We welcome F-Trace’s initiative to offer this highly needed transparency platform. Now we can recommend all our global certificate holders the early opportunity to connect and share their ESG compliance on a community driven IT infrastructure that is truly governed by the sector itself.”
Mark Zeller, Lead F-Trace, summarizes: “Together with the know-how of GLOBALG.A.P., GS1 Germany and IFS, we are able to check all data fed into ftrace transparency as well as certificates used for their authenticity and correctness. In addition, we remain open to further social and ecological minimum standards that are brought to us from the community.”
The cooperation enables transparency data to be used in near real time as part of a standardized and decentralized approach. In this way, F-Trace, GLOBALG.A.P., GS1 Germany and IFS meet all supply chain participants’ and market requirements – regardless of industry, company size and IT maturity.
