Measurability of the level of sustainability in the supply chain
Sustainable action in harmony with the environment, safety, health, and ethics is essential today. This is the only way we can guarantee a future worth living for ourselves and future generations and therefore also the profitability of companies. We at Midas Pharma take this responsibility very seriously and have set ourselves the goal of continuously expanding our sustainability measures along the entire value chain.
We are working with a great deal of commitment to further improve our sustainability performance. However, the social, ethical, and environmental footprint of our products and services is directly related to the practices of our business partners. Due to international laws and regulations, such as due diligence, we as a company are also responsible for irregular conduct within our supply chains.
Therefore, Midas Pharma decided to have individual sustainability assessments carried out by EcoVadis.
EcoVadis is a global CSR rating company that evaluates global supply chains based on international standards. Over 90,000 companies use EcoVadis for reporting and sustainability inquiries.
Following the EcoVadis assessment, companies receive a scorecard that shows the sustainability performance in the four categories “Environment”, “Social”, “Ethics”, and “Sustainable Procurement” and provides detailed information on strengths and weaknesses. The evaluation criteria are based on international sustainability standards such as the Global Compact principles, the conventions of the International Labor Organization (ILO), the standard of the Global Reporting Initiative (GRI), the ISO26000 standard, and the CERES principles.
EcoVadis at Midas Pharma
In spring 2022, Midas Pharma was awarded the bronze medal and, with this rating, its sustainability performance is above the industry average.
This shows us that we are on the right track and motivates us to focus our commitment to sustainability in an even more targeted manner. Together with EcoVadis, we are actively looking for solutions to further reduce the impact of our work on the environment and improve our scoring.
EcoVadis makes these efforts transparent, assessable, and comparable. In this way, we are demonstrating our continuous performance improvement as part of our sustainability activities.
The decision in favor of EcoVadis is based on the willingness to make a joint commitment
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