Benvic’s 2024-26 action plan for Environmental, Social and Governance (ESG) activities is now on going – and identifies several new opportunities and horizons for the company in the coming years.
The new plan builds upon Benvic’s existing ESG activities and achievements over the past four years. It also communicates - thanks to several internal and external audit processes - how Benvic can now further focus and extend its ESG commitments over the short to medium term.
Planet
Benvic’s 2024-26 ESG action was produced with the help of ERM (Environmental Resources Management), an international sustainability consultancy. As part of the process an internal and external landscape assessment (trend & regulatory analysis) was conducted, together with peer benchmarking.
Interviews were also held with a variety of stakeholders in order to gather views on the most important ESG topics. The 2024-26 ESG plan is therefore solidly constructed on the foundation of actual and material needs of Benvic’s main stakeholders.
The new action plan arises partly because of Benvic’s stated commitment to be an ESG leader in its core field of polymer compounding. A total of fourteen critical ESG metrics were identified in the review and consulting work.
These fourteen new metrics will now enable Benvic to prioritize actions relating to all of the company’s stakeholders. They will also help Benvic build upon the company’s signifcant ESG achievements to date. For example, last year – and for the second year in a row - Benvic was awarded Gold-level excellence by the international provider of sustainability ratings – Ecovadis. This ranking continues to place Benvic among the top 2% in the industry for sustainable achievement – a status it intends to build upon with the new ESG 2024-26 plan.
Chief among these fourteen top ESG factors in the 2024 plan – both for Benvic and for its external stakeholders – is the need to manufacture for the emerging and growing circular economy. Some of the most important and relevant ESG criteria considered are environmental impact of products, decarbonization, talent management, occupational health and safety, human rights, ethics and compliance.
The priorities in Benvic’s 2024 ESG action plan are now set to roll out – both externally and internally: As a member of the ICIG Group, Benvic will enjoy the support and cross-fertilization of its sister companies. All are now pursuing ESG leadership in their various market sectors.
Within Benvic the new 2024-25 ESG action plan will assist more focused ESG processes and achievements. The plan will also help the company comply with the detail of new EU Corporate Sustainbility Reporting Directive – for large and listed companies, obliging them to share information on how they monitor a wide range of EU issues.
In our next article we look at how the new Benvic plan is set to tackle the ‘three pillars’ of ESG – Environmental – Social and Governance.
