Apollo Tyres has significantly reached to the 92nd percentile, up from the 82nd percentile the previous year. Major improvement was driven by a 20-point increase in the Labour and Human Rights category and a 10-point increase in the Sustainable Procurement category.
23 Jul 2024 | 7987 Views | By Autocar Pro News Desk
Apollo Tyres has retained its Silver Award from EcoVadis for sustainability excellence for the third consecutive year, with an improvement in scores from 56 to 70 over the past three years.
This recognition places Apollo Tyres Ltd among the top 5% of companies globally in the category of manufacturing ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
Apollo Tyres has retained its Silver Award from EcoVadis for sustainability excellence for the third consecutive year, with an improvement in scores from 56 to 70 over the past three years.
This recognition places Apollo Tyres Ltd among the top 5% of companies globally in the category of manufacturing rubber tyres and tubes, as well as retreading and rebuilding rubber tyres, the company said.
EcoVadis is the world’s largest provider of business sustainability ratings, evaluating companies based on four key pillars: Environment, Labour and Human Rights, Ethics, and Sustainable Procurement. Companies that score in the top 1% (99+ percentile) receive platinum rankings, those in the top 5% (95+ percentile) receive gold, those in the top 15% (85+ percentile) receive silver, and those in the top 35% (65+ percentile) receive bronze.
In FY24, Apollo Tyres’ overall performance score improved significantly, reaching the 92nd percentile, up from the 82nd percentile the previous year. This marked improvement was largely driven by a 20-point increase in the Labour and Human Rights category and a 10-point increase in the Sustainable Procurement category. Despite the advancements in these areas, scores in the Environment and Ethics categories remained consistent with the previous year.
The rise in scores for Labour and Human Rights and Sustainable Procurement can be attributed to several key initiatives undertaken by Apollo Tyres. The company has made concerted efforts to enhance its suppliers’ Environmental, Social, and Governance (ESG) assessments, ensuring that its supply chain adheres to high sustainability standards.
Additionally, Apollo Tyres has been actively involved in creating livelihood opportunities for local communities, with a particular focus on empowering women. These initiatives have helped improve the socio-economic conditions of these communities and foster sustainable development.
Furthermore, Apollo Tyres has placed a strong emphasis on raising human rights awareness among its employees through comprehensive training programs.
These programs aim to educate employees about their rights and responsibilities, promoting a culture of respect and fairness within the organization. The company’s dedication to these principles has been reflected in its improved scores in the Labour and Human Rights category.