Apollo Tyres Ltd has once again demonstrated its commitment to sustainability by securing the prestigious Silver Award at the EcoVadis Sustainability Excellence ratings. This marks the third consecutive year the company has achieved this honour, with a significant improvement in its overall scores from 56 to 70 over the past three years.
The EcoVadis assessment, which is recognised as the world’s largest provider of business sustainability ratings, places Apollo Tyres Ltd in the top 5% of companies globally in the category of ‘manufacture of rubber tyres and tubes, retreading and rebuilding of rubber tyres’. This achievement highlights the company's continued efforts towards sustainable practices and ethical operations.
Apollo Tyres Ltd has made notable progress in its sustainability performance, improving its overall performance score to the 92nd percentile in FY24, up from the 82nd percentile the previous year. The company’s Labour and Human Rights ranking saw a significant increase of 20 points, and its Sustainable Procurement ranking improved by 10 points. These enhancements were crucial in achieving the overall performance score improvement, while the scores in the Environment and Ethics categories remained steady.
The company's advancements in Labour and Human Rights and Sustainable Procurement were driven by its efforts to strengthen suppliers' ESG assessments, provide livelihood opportunities to local communities, especially women, and focus on Human Rights awareness through employee training. Furthermore, Apollo Tyres Ltd has demonstrated advanced management systems towards its sustainability commitments, reinforcing its position as a leader in the industry.
EcoVadis evaluates companies based on four key pillars: Environment, Labour and Human Rights, Ethics, and Sustainable Procurement. Companies in the top 1% scoring 99+ percentile receive the platinum ranking, those in the top 5% with 95+ percentile receive gold, the top 15% with 85+ percentile receive silver, and the top 35% with 65+ percentile receive bronze.
Apollo Tyres Ltd’s silver rating reflects its dedication to integrating sustainable practices into its operations and its continuous improvement in key areas. This recognition not only underscores the company’s commitment to sustainability but also enhances its reputation in the global market.
