How important is sustainability in the medical device industry? Pretty important, if you ask us. Today, more OEMs focus on ESG and place emphasis on the EcoVadis rating. This year, we truly got awarded for our efforts, moving from bronze to silver rating.
ESG transparency in the medtech industry
More original equipment manufacturers want to partner with a CDMO that not only takes environmental, social, and governance responsibility but is also transparent with their efforts and results. The same goes for us – we want our customers, partners, and suppliers to contribute to a more sustainable society and let us take part of their efforts and results.
While sustainability becomes a more important part of companies’ performance, today’s supply chains are increasingly extensive and complex. This has led to a strong need for standardized ESG assessment platforms. And this is where EcoVadis comes into play.
What is Ecovadis?
EcoVadis is an ESG (environmental, social, and governance) assessment platform that provides companies with a universal sustainability rating. EcoVadis reviews companies across several areas that are key to meeting sustainability targets. These areas include environmental efforts, labor and human rights, ethics, and sustainable procurement impacts.
The assessments are refined into scorecards, providing 0-100 scores. When applicable, companies are awarded with bronze, silver, or gold medals, depending on the rating. The scorecards provide guidance on strengths and improvement areas.
What does Elos Medtech’s EcoVadis silver rating mean to customers?
Elos Medtech using EcoVadis means that you gain insight into our ESG performance. You can feel confident that you have chosen a CDMO that not only talks the talk but also walks the walk when it comes to sustainability. Our EcoVadis rating shows you how sustainable we actually are.
Our EcoVadis scorecard shows that we have improved in all areas. Comparing our rating to other companies in the medtech industry, our score is higher than 89% of the other companies.
We use EcoVadis to focus our sustainability efforts and develop action plans to improve our sustainability performance. Read our blog articles below to find out exactly what actions we are taking and how we work with sustainability in terms of our people, responsibilities, and business:
- Employees in the medtech industry should have a safe work environment
- Minimizing our environmental impact as a medical device manufacturer
- How we take responsibility as a global CDMO
Elos Medtech is awarded with an EcoVadis silver rating
We have set a goal to improve our EcoVadis rating every year. This year, we improved our sustainability work and moved from bronze to silver rating. We are very proud to be awarded for our sustainability efforts and for now having an Ecovadis silver rating.
Elos Medtech uses EcoVadis to contribute to positively impact the environment and foster transparency. We invite you to do so as well!