Voith awarded for sustainability
28 September 2021
Voith was awarded a B- rating for the first time by the independent rating agency ISS ESG and, together with SKF Group and Johnson Controls, is one of the three best companies within the plant and mechanical engineering sector worldwide. This was the first time since 2016 that the rating was improved from C+ to B-.
The rating agency ISS ESG evaluates Voith's sustainability performance in comparison with 167 other plant and mechanical engineering companies. "The rating result is a confirmation of our performance in the area of sustainability and the result of the excellent work of our employees worldwide. And it is evidence of Voith's sustainability leadership in our industries," says Markus Schönberger, Head of Corporate Sustainability at Voith Group.
It also has increasing significance for banks regarding the conditions for granting loans. "This result enables us to further reduce our financing costs, as sustainable companies are also increasingly sought after on the financial markets" explains Michael Hannig, Senior Vice President Corporate Finance and Group Treasurer of the Voith Group.
Voith improved on a total of 20 indicators compared to the previous year, including product design and development, diversity & inclusion, and greenhouse gas emission reduction targets and action plans. For 53 indicators, the rating remained unchanged compared to the previous year, and for five indicators Voith was rated not as good as in the previous year.
The external evaluation by ISS ESG is mainly based on the Voith Sustainability Report, which has been published annually since 2011 and makes the measurable added value for the company, society, and the environment transparent. Furthermore, information from external sources such as non-governmental organizations (NGOs), media, and scientific institutions is taken into account.