Apollo Tyres Ltd continued to shine with Silver Awards at the EcoVadis Sustainability Excellence ratings. This is the third consecutive year for Apollo Tyres to get the silver rating at the annual EcoVadis sustainability assessment, with improved scores from 56 to 70 over the last 3 years.
This prestigious recognition has placed Apollo Tyres Ltd in the top 5% of companies rated in the category of ‘manufacture of rubber tyres and tubes, retreading and rebuilding of rubber tyres’ globally.
The overall performance score for Apollo Tyres Ltd improved to 92nd percentile in FY24, up from the 82nd percentile previous year. The 20 points increase in company’s Labour and Human Rights ranking, and increase of 10 points in company’s Sustainable Procurement ranking, contributed to the overall performance score improvement. Scores in the other two categories of Environment and Ethics remained the same as the previous year.
The improvement in Labour and Human Rights and Sustainable Procurement scores was due to the company’s efforts in strengthening suppliers’ ESG assessment, providing livelihood opportunities to local communities, especially women, and focusing on Human Rights awareness by providing training to the employees. In addition, the company demonstrated advance management systems towards its commitments for sustainability initiatives.
EcoVadis is the world’s largest provider of business sustainability ratings, which evaluates company’s performance by focusing on four key pillars — Environment, Labour and Human Rights, Ethics and Sustainable Procurement. Top 1% of the companies scoring 99+ percentile get platinum ranking, top 5% with 95+ percentile get gold ranking, top 15% with 85+ percentile get silver ranking and top 35% with 65+ percentile get bronze ranking.
