STL Excels in ESG: MSCI & EcoVadis Recognition
STL, a prominent provider of optical and digital solutions, announced a significant enhancement in its ESG metrics as assessed by the renowned global investment research firm Morgan Stanley Capital International (MSCI).
The assessment conducted by MSCI awarded STL an 'A' rating for its commendable efforts in the realm of Environmental, Social, and Governance (ESG) initiatives.
MSCI evaluates various company policies and actions related to crucial metrics like responsible sourcing and clean technology utilisation, assigning ratings on a scale ranging from AAA to CCC relative to the industry standard.
Furthermore, STL has garnered the prestigious Silver Medal in the EcoVadis Sustainability Assessment, achieving an impressive percentile score of 92.
The company demonstrated remarkable improvement in three out of four categories: environment, labour & Human Rights, and Ethics. This upward trajectory in the score can be attributed to STL's world-leading practices in waste management, including its notable achievement of Zero Waste to Landfill certification for manufacturing units in India and Italy, as well as Zero Liquid Discharge across six out of its ten global manufacturing facilities.
Beyond its environmental, community, and governance initiatives, STL has also been a trailblazer in promoting transparency and disclosure. The company has taken significant strides in reporting an expanded array of ESG Key Performance Indicators (KPIs), coupled with the publication of comprehensive policies covering Net Zero by 2030, energy conservation, waste and water management, and sustainable sourcing.
Moreover, STL has been diligently working on formulating a dedicated Human Rights policy that emphasises transparency, adherence to regulations, mechanisms for grievance redressal, and ensuring employee safety.
Akanksha Sharma, Global Head of ESG at STL, commented on the positive progress in MSCI ratings, stating, "Our unwavering commitment to sustainability and the UN Sustainable Development Goals remains at the core of our ESG endeavours and business strategies.
We are resolute in making a tangible and quantifiable impact through our initiatives focused on sustainable operations, empowerment of women, and grassroots efforts in vital areas such as water conservation, digital education, healthcare, and more. These accolades validate our ongoing dedication and fortify our vision to lead in addressing sustainability-related challenges and opportunities within our industry."
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