Our ESG ratings – transparency on our sustainability performance
Environmental, social and governance (ESG) standards help us to understand how a company operates in regard to the planet and its people.
Environmental criteria determine how the company performs as a steward of the planet. Social criteria define how it manages relationships with employees, suppliers, customers, and the communities where it operates. Governance criteria are a set of rules, best practices and processes that determine how the organisation is managed and controlled.
Our ambition is to be a leader in our industry for climate change action and an equitable society. For many years, Recticel has been committed to strong performance on both financial and non-financial criteria. Transparency on objectives and performance is key to earning and retaining the trust and support of shareholders, who are increasingly interested in companies with solid ESG commitments and scores.
We pursue ESG ratings to measure our performance, provide clarity and identify areas where we can improve. Through MSCI, we provide institutional investors with robust assurance of our company’s resilience to long-term, industry material environmental, social and governance (ESG) risks. In disclosing environmental data through CDP, we join more than 5,800 companies in Europe and over 18,700 globally. We are rated by Morningstar Sustainalytics on our exposure to ESG risk and by Ecovadis on the integration of sustainability into our business and management system with regard to environment, labour & human rights, ethics and sustainable procurement.
As our business scope has changed (from plastic product manufacturer to building products), so will our benchmarking peers and our evaluations, and we remain committed to providing the most appropriate and useful ratings for our stakeholders.
Recticel’s overriding purpose is to accelerate the fight against climate change with insulation solutions that advance a carbon-free economy and a better life for current and future generations. In July 2023 Recticel formalised its ambitious emissions targets by submitting them to the Science Based Target initiative (SBTi). It has committed to achieving net zero on Scopes 1 and 2 and a 25% reduction on Scope 3 by 2030. By 2050 at the latest, Recticel intends to be a net zero emission company on Scopes 1, 2 and 3.