- Thanks to a 27.8 ESG Risk Rating score, SICIT ranks in the world’s top 8% of agricultural chemicals companies
- Sustainalytics assesses SICIT’s ESG Risk Management as “strong” and aligned with “best practice”
- For most areas the risk is “low” (emissions, effluents and waste; occupational health and safety; human capital; community relations) or “negligible” (customer responsibility, environmental and social risks of products, business ethics)
- There are no events that may negatively impact stakeholders, the environment or the Company’s operations
- 90% of the current risk is manageable and, therefore, highly reducible with suitable policies
SICIT Group announces that Sustainalytics assigned the ESG Risk Rating to the Company, related to Environmental, Social and Governance issues, with particular reference to the 2019 Sustainability Report.
This rating represents an independent assessment that measure the degree of adherence to the most rigorous institutional and international voluntary guidelines on sustainability (and related governance aspects).
In Sustainalytics’ comparative ESG Risk Ratings, SICIT Group ranks in the top 18% of the best companies within the global chemical industry and in the top 8% of peers within the agricultural chemicals segment, achieving a score of 27.8.
Given SICIT’s business, which is related to the processing of animal waste and residues, Sustainalytics rates the company’s ESG Risk Exposure potentially “high”, but ESG Risk Management is “strong”, as “follows best practice, signalling strong accountability to investors and the public”.
The “medium” risk areas include only carbon-own operations and corporate governance. For all other categories, the risk is rated as “low” (emissions, effluents and waste; occupational health and safety; human capital; community relations) or even “negligible” (product governance; E&S impact of product and services; business ethics). Furthermore, there are no events that may negatively impact stakeholders, the environment or the Company’s operations. Finally, the “manageable risk factor” is equal to 90% and therefore, in perspective, strongly reducible with suitable policies, programmes and initiatives.
Aware of its role as a market leader and the resulting responsibilities, since 2019 the Company has undertaken a solid and formalised path to strengthen its approach to sustainability, implementing projects in each of the three ESG areas, including:
- Environment: green and sustainable products, minimisation of waste and emissions, certifications, increased use of renewable energy;
- Social: emphasis on transparency, legality and proper relations with all stakeholders;
- Governance: full compliance with all applicable Regulations, Codes and best practices.
Massimo Neresini, CEO of SICIT Group, commented: “The rating assigned by Sustainalytics certifies the consistency of the path undertaken, ranking us in the top positions at global level among agricultural chemicals companies. This result is even more important because it is mainly based on our first Sustainability Report, which did not yet clearly show the results achieved, thanks to the improvement of company policies and best practices. SICIT is an essential part of the circular economy of the tanning industry, and environmental sustainability has always been a central theme. In recent years, we have started a journey to integrate ESG principles in their entirety, so that they will guide all future development of the Group”.
The Sustainalytics rating is available here: https://www.sicitgroup.com/en/esg-rating/.
Sustainalytics is a leading global provider of ESG ratings, ESG research and corporate governance for investors. Specifically, it assesses a company’s ESG risks through a two-dimensional materiality framework: the first dimension, Exposure, measures the degree of Company’s exposure to ESG risks, while the second, Management, measures the management’s degree of ESG risks. The areas carefully investigated are: corporate governance; data privacy and security; resource use; human capital; business ethics; environment & social; E&S impact of product and services.
For further details on the sustainability rating methodology see www.sustainalytics.com.