Neptune Energy today announced it has been awarded silver medal status from the environment, social and governance (ESG) ratings organisation, EcoVadis. The upgrade places Neptune in the top 25% of all 75,000 global organisations assessed by EcoVadis. (Logo quoted from Yahoo’s image)
EcoVadis assesses companies’ policies, actions and performance disclosures in the areas of environment, labour & human rights, ethics and sustainable procurement.
In its report, EcoVadis highlighted Neptune’s disclosure of emissions data and quantitative targets, strong environmental management practices, and comprehensive ethics policies and procedures.
The report stated: “The company has implemented new solutions or concrete actions on environmental issues. These innovative practices are advanced and pioneering for the sector, and demonstrate a clear best-practice approach beyond regulatory compliance.”
It also noted the significant improvement Neptune made in sustainable procurement, recognising the company’s new supply chain policy which incorporates both social and environmental considerations, and assessment of suppliers in areas including human rights.
EcoVadis’ upgrade follows an upgrade by Sustainalytics in March this year, which put Neptune in the top 3% of all exploration and production companies rated by the organisation.
Neptune Energy’s ESG strategy is as follows;
During 2020 Neptune Energy made good progress in delivering ESG strategy, which is key to our ability to create value for all our stakeholders.
As a result of the COVID-19 pandemic, there was a marked global shift in emphasis from society on the importance of the role of companies in supporting people, suppliers and local communities. The social inequalities highlighted by the pandemic, as well as the Black Lives Matter movement, have also led to a greater focus on equality, diversity and inclusion and organisational culture.
Neptune Energy’s ESG Committee, which oversees our approach to ESG and ensures alignment with their business strategy, reviewed ESG strategy and action plan in light of the changing global context and approved our three-year roadmap.
As part of commitment to sustainable and responsible business practices, they have embedded the Ten Principles of the United Nations Global Compact into strategies and operations, and committed to respecting human and labour rights, safeguarding the environment, and working against corruption in all its forms.
Jiro Arihara
Global Commodity Watcher
