Apollo Tyres Maintains EcoVadis Silver for 3rd Time
Key Takeaways
- Apollo Tyres achieved a Silver in the EcoVadis Sustainability Excellence ratings for the third year in a row.
- Their score improved from 56 to 70 over three years, placing them in the top 5% globally for their industry.
- Labour practices, human rights awareness, and sustainable procurement helped them retain this status.
Apollo Tyres Ltd. has retained EcoVadis Silver Rating for the third time.
Apollo Tyres' score has risen consistently, jumping from 56 to 70 in the latest assessment. This means the company is within the top 5% of companies globally in the "manufacture of rubber tyres and tubes, retreading and rebuilding of rubber tyres" category. Their overall performance score also improved to the 92nd percentile in FY24, up from the 82nd percentile the previous year.
Focus on Labour, Human Rights, and Procurement
The progress in Apollo Tyres' score is primarily due to their strict focus on Labour and Human Rights (up 20 points) and Sustainable Procurement (up 10 points).
They made this possible through the following initiatives:
- Strengthening supplier ESG assessments
- Providing livelihood opportunities to local communities, particularly women
- Implementing human rights awareness training for employees
EcoVadis Rating System Explained
EcoVadis is the world's leading provider of business sustainability ratings. They evaluate companies' performance across four key pillars: Environment, Labour and Human Rights, Ethics, and Sustainable Procurement.
Top 1% (99+ percentile): Platinum Ranking
Top 5% (95+ percentile): Gold Ranking
Top 15% (85+ percentile): Silver Ranking (achieved by Apollo Tyres)
Top 35% (65+ percentile): Bronze Ranking
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Source: Apollo Tyres
