Published at 10:45 am
Tendam improves its ESG rating and achieves EcoVadis Gold rating for sustainable performance
Following last year’s Silver medal, the Spanish textile company has now achieved a rating that places it among the top 4% of companies evaluated by the rating agency for Environmental, Social and Governance (ESG).
The Gold medal is the result of the progress and initiatives implemented in the last year in which Tendam has validated its SBTi objectives to reduce CO2 emissions, with the goal of being carbon neutral by 2040.
Tendam, one of Europe’s leading groups in the specialised fashion sector, which includes the commercial brands Women’secret, Springfield, Cortefiel, Pedro del Hierro, Hoss Intropia, Slowlove, High Spirits and Fifty, has received the Gold medal from EcoVadis, one of the leading international rating agencies for Environmental, Social and Governance (ESG) management. After receiving the Silver medal in the previous edition, the Spanish fashion company improves its rating and is now among the 4% of the most advanced companies evaluated internationally in terms of sustainability.
Ignacio Sierra, Corporate General Manager of Tendam highlighted that: “The rating achieved by Tendam in the EcoVadis verification process supports the solvency of our sustainability strategy, key to the positive evolution of the company, the commitment to the expectations of our stakeholders and the constant improvement of our contribution to society and the environment”.
EcoVadis rates the sustainability performance of organisations based on four ESG (environmental, social and governance) domains: environment, labour practices and human rights, ethics, and sustainable procurement. Scores vary on a scale of zero to 100. Meeting the requirements for the Gold medal reaffirms Tendam’s commitment to stakeholders to assess and improve the sustainability of its management and to generate the most positive impact on society.
The progress in the level achieved by Tendam’s rating is the result of the improvement in the compliance indicators and the initiatives implemented in the last year in which a Climate Change strategy has been established with quantifiable and ambitious objectives. In this sense, this year we have achieved the reduction of carbon emissions due to the consumption of renewable energy and the implementation of energy efficiency projects, optimisation of logistics and increase of garments with more environmentally friendly materials. In addition, the science-based targets have been validated by the international SBTi initiative (to be carbon neutral by 2040) and an A- category has been achieved in the CDP assessment in 2021. The continuous improvement in the monitoring of its supply chain, the development of a global human rights strategy and the implementation of business ethics actions in governance have also been highly valued.
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