Evonik gets higher sustainability rating from Morningstar Sustainalytics
Sustainability

Evonik gets higher sustainability rating from Morningstar Sustainalytics

Sustainalytics rates Evonik as “low risk” for the first time

  • By ICN Bureau | December 01, 2023

Evonik has further improved its rating in the latest assessment by rating agency Morningstar Sustainalytics. The ESG risk rating considers material risks in the areas of environment, social and governance of a company.

Morningstar Sustainalytics attests Evonik strong management of these issues, resulting in a rating of "low risk" only. This puts Evonik among the top ten best rated specialty chemicals companies and into the top five percent of around 600 chemical companies worldwide.

“The assessment by Morningstar Sustainalytics recognizes the consistent implementation of our new sustainability strategy. This is an incentive for us to continue setting ambitious sustainability goals in the future and to work hard to achieve them,” said Thomas Wessel, the member of Evonik's Executive Board responsible for sustainability.

In previous years, Morningstar Sustainalytics had rated Evonik “medium risk” four times. This year, the underlying risk rating improved to 19.7 (2022: 24.6). Evonik’s activities, improvements and targets in the areas of “Sustainable Products and Services”, “GHG Risk Management” and “Hazardous Substance Management” were emphasized positively.

Morningstar Sustainalytics analyzes a company’s exposure to material industry-specific ESG risks and how well a company manages those. Evonik was upgraded primarily due to a significantly improved management score of 70.4 (2022: 62.7).


Register Now to Attend AVEVA Industry 4.0 & Digitalization in Chemicals on Wednesday, 13th March 2024, Hotel Hyatt Place, Bharuch, Gujarat

Other Related stories

Startups

Chemical

Petrochemical

Energy

Digitization