EcoVadis is a leading analysis firm for sustainability ratings. It measures the sustainability performance of companies on a scale from 0 to 100. A Gold medal is awarded from 66 points, while a Platinum medal requires at least 73 points. Only 1% of the companies rated currently have Platinum status. The rating takes into account a company’s performance in the categories of environment, labor and human rights, ethics and sustainable procurement.
Dürr AG is one of the world’s pioneers of sustainability-oriented financing. The EcoVadis rating plays a central role in this regard. Since mid-2019, the company has had a sustainability-oriented Schuldschein loan (€ 200 million) and a syndicated loan (€ 500 million); their interest rates are in part linked to the rating. If the EcoVadis rating increases to at least 62 points, the interest rates are reduced; a decrease in the rating to 40 points or less would lead to an interest rate rise. Dürr AG is the world’s first company to apply this mechanism to a Schuldschein loan.
In concrete terms, the EcoVadis rating increase is due to improvements in health and safety and mobile working. The good results the Dürr Group achieved in its employee survey, carried out in October 2019, were also taken into account.
Says Dr. Jochen Weyrauch, responsible for the Corporate Sustainability function on the Dürr AG Board of Management: “Sustainability has become a key component of our strategy. Our customers see us as a supplier of low-consumption and low-emission production technology. Our shareholders and employees also expect – and rightly so – that we are committed to taking responsibility for the environment, society and employee matters.”