Grundfos Joins Top One Percent of Companies Globally
Grundfos, a provider of advanced pump solutions and water technology, announced recently that it has achieved a Platinum medal rating from EcoVadis. This recognition places Grundfos in the top 1 percent of companies rated worldwide, showcasing its unwavering commitment to sustainable business practices.
EcoVadis is one of the world’s largest and most trusted providers of business sustainability ratings, assessing more than 130,000 companies’ actions and practices on their corporate and social responsibility. Using its international standards, EcoVadis has evaluated Grundfos across four key areas: Environment, Labour & Human Rights, Ethics, and Sustainable Procurement to award the business a Platinum medal rating.
Since the last assessment (Gold medal rating), Grundfos has implemented additional measures and policies to strengthen social and environmental responsibility across the value chain. At the same time, the company has made significant progress towards both water and climate ambitions, reflecting the company’s ongoing commitment to sustainability and continuous improvement.
“We are very proud of the Platinum rating, which I would like to dedicate to our hardworking and dedicated colleagues worldwide. It encourages us to keep pushing ourselves to enhance our ESG (Environmental, Social, and Governance) practices that include progressing towards net zero by 2050, fostering a fair, inclusive, and safe working environment, enforcing strong ethical business standards, and ensuring sustainable procurement across our entire value chain,” said Louise Koch, Senior Director, Group Head of Sustainability, Grundfos.
Silvio Vanzo, Group Senior Vice President, Purchasing, Grundfos added, “Achieving Platinum certification highlights Grundfos’ commitment to conduct business in a responsible way, but it also highlights the close collaboration and trust between us and our loyal suppliers and customers. Their cooperation and input have been instrumental in strengthening and enhancing our ESG practices throughout the entire value chain.”
Grundfos sustainability highlights include:
- Environment: SBTi validated 2050 net-zero target
- Climate: Since 2020, Grundfos has reduced its CO2 emissions by 11.7 percent (2023). Through a new Power Purchase Agreement, the company is set to meet its target of a 50 percent reduction in operational carbon emissions in 2025 – five years ahead of the company’s original 2030 goal.
- Water: In 2023, Grundfos solutions enabled customers and end users to save an estimated 1.6bn m³ of water and reduced water withdrawal in their own operations by 48 percent since 2020.
- Labour & Human Rights: To foster a fair, inclusive, and safe working environment, Grundfos has robust labour policies and practices across its value chain.
- Ethics: Grundfos has implemented rigorous anti-corruption measures, conducts regular audits, and provides extensive training to ensure ethical practices are maintained throughout its operations.