Sofidel Ranks Best in Household Products Industry for ESG Risk Rating
PHILADELPHIA, February 14, 2023 /3BL Media/ - Sofidel, a global household products company received a ESG Risk Rating of 13.6 from Morningstar Sustainalytics, ranking it first out of over 120 companies in the Household Products industry. The rating recognized Sofidel for its strong commitment to the preservation of biodiversity, anti-corruption strategies, transparency, and efforts to fight climate change and global warming. With 1,500 employees across the U.S., Sofidel also placed in the “Low Risk” category as of August 2022, that lists companies with a strong ability to manage the environmental, social and governance risks that characterize the three areas of a company’s responsibility.
Morningstar Sustainalytics is a leading ESG and corporate governance research provider, and ratings and analytics firm that supports investors around the world with the development and implementation of responsible investment strategies.
Sustainalytics also ranked Sofidel in the top 10% of more than 15,000 global companies evaluated.
“Once again, Sustainalytics’ ESG Risk Rating attests to the rigor of our commitment to ESG sustainability and risk management policies,” commented Luigi Lazzareschi, CEO of the Sofidel Group. “These analyses, in addition to traditional financial ratings, represent a benchmark for investors, external observers, and worldwide stakeholders whose choices are increasingly guided by companies’ abilities to develop and implement effective sustainability strategies. This is a recognition we are pleased with as it translates the commitment and dedication of recent years into measurable results, which are essential to allow us to compare ourselves with international best practices and, above all, to detect further areas for improvement.”
Sofidel excelled in the material categories ranking of Land Use – Biodiversity and Business Ethics. For risk management related to Land Use – Biodiversity, the company received a score of 97/100, thanks to a strict forestry procurement policy, developed in collaboration with World Wildlife Fund (WWF), whose only goal is zero deforestation. Today, Sofidel uses only pulp which is (100%) certified under forest chain-of-custody schemes and is committed to the active monitoring of high-risk countries and the introduction of control measures on the second and third levels of its supply chain. Additionally, Sofidel is among the first companies in the world to join the “Forests Forward” platform launched by WWF to protect forests and ecosystems.
In the category of Business Ethics, Sofidel achieved a score of 86.9/100 for its continued commitment to promoting models of integrity, anti-corruption and transparency. The company has recently established a new internal audit process to ensure that everyone in the company follows the procedures and acts/operates in an ethical way.
There was also positive feedback on decarbonization. The residual risk assessment for the Carbon – Own Operations category, the company achieved a ‘negligible risk’ rating (1.3 Negligible), which recognizes Sofidel’s decarbonization strategy. The Group’s 2030 reduction targets (40% reduction in scopes 1 and 2 CO2 emissions – those produced directly by its business – and 24% scope 3 reduction – emissions related to the supply chain are endorsed by Science Based Targets initiative (SBTi) as consistent with the requirements of the Paris Agreement. In this context, the Group is now implementing a multi-option strategy (based on the legislative, climatic, and infrastructural contexts of the various countries in which it operates) to differentiate the energy mix with the goal of having 84% of purchased energy derived from renewable sources by 2030.
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Sofidel America
Sofidel America is a subsidiary of the Sofidel Group. It was established in 2012 through the acquisition of the Cellynne tissue company which was founded in 1988 with one integrated plant in Haines City (Florida) and two converting plants in Green Bay (Wisconsin) and Henderson (Nevada) – the latter moved to Las Vegas in 2018. Sofidel America is now active in seven States – the original three already listed, as well as Oklahoma (Inola), Mississippi (Hattiesburg), Ohio (Circleville) and Pennsylvania (Horsham) where the company has its American corporate office. In 2021 the US market accounted for 22.5% of Sofidel’s revenues.
The Sofidel Group
The Sofidel Group is one of the leading manufacturers of paper for hygienic and domestic use worldwide. Established in 1966, the Group has subsidiaries in 13 countries – Italy, Spain, the UK, Ireland, France, Belgium, Germany, Sweden, Poland, Hungary, Greece, Romania, and the USA – with more than 6,000 employees, net sales of 2,095 million Euros (2021) and a production capacity of over one million tonnes per year (1,440,000 tonnes in 2021). “Regina,” its most well-known brand, is present on almost all the reference markets. Other brands include: Softis, Le Trèfle, Sopalin, KittenSoft, Nalys, Cosynel, Lycke, Nicky, Papernet. A member of the UN Global Compact and the international WWF Climate Savers programme, the Sofidel Group considers sustainability a strategic factor with regards to growth and is committed to reducing its impact on natural capital and maximising social benefits, setting as objective the creation of shared added value for all stakeholders. Sofidel’s greenhouse gas (GHG) emissions reduction targets to 2030 have been approved by the Science Based Targets initiative (SBTi) as consistent with reductions required to keep warming to well-below 2°C, in line with the goals of the Paris Agreement.
Media Contact:
Brianna Fitzpatrick
Mulberry Marketing Communications
bfitzpatrick@mulberrymc.com
