Voluntary Reporting and Ranking: EcoVadis and CDP

Voluntary Reporting and Ranking Frameworks Foster Accountability and Transparency in Pursuit of Stepan’s Sustainability Goals

June 3, 2024

This month’s sustainability topic focuses on two voluntary reporting and ranking frameworks, EcoVadis and the Carbon Disclosure Project (CDP). Stepan will share more about these reputable verification bodies, why Stepan chooses to voluntarily report, and as has been for many years, and how we currently rank compared to our industry peers.

Let’s first start with EcoVadis.   

EcoVadis is a global provider of sustainability ratings and business intelligence. They help companies measure, improve, and communicate their environmental, social, and ethical performance across the value chain. Stepan has been voluntarily reporting since 2015 to demonstrate to our customers and other stakeholders our commitment to sustainable practices and progress. Also, we participate to learn and identify best practices that help guide us toward ongoing improvements. Since 2022, Stepan has used EcoVadis to evaluate our supply chain partners, as part of Stepan’s Partner for Sustainable Supply (PasSS) Program. This enables our procurement department to reference a credible, external assessment of our partners based on the same comprehensive performance criteria as we are measured. 

Stepan Company is currently ranked as “committed” and in the 90^th percentile among manufacturers of chemical products. Our strength is in our established policies, processes, and actions. We continue to focus on additional site certification against ISO 14001 (Environmental Management) and 50001 (Energy Management) and leverage the insights gained through these assessments to identify opportunities for reducing emissions and using resources more efficiently. 

Now, onto the Carbon Disclosure Project, now referred to as CDP.

The CDP is a global non-profit organization that helps companies, cities, states, regions, and public authorities disclose their environmental impact. It manages the largest collection of climate-related data across industries and operates in 90 countries. A group of over 700 investors receive a copy of performance results.

Stepan Company has been reporting for over 10 years and based on our 2023 performance, we received a “B” ranking. This is higher than the North American regional average of “C” and comparable at “B” to others in the chemical sector. Stepan is working to develop long-term roadmaps to reduce scope 1 and 2 emissions and conserve resources. We are also committed to the Task Force on Climate-Related Financial Disclosures to further disclose climate-related risks and opportunities. We continue to focus on and drive progress toward a more sustainable future and are currently goal setting out to 2030.

Reach out to discuss these frameworks, Stepan rankings or to learn more about our work to reduce emissions and options for lower carbon footprint products.

Click here for more information on Stepan’s sustainability efforts and our focus on being a strong community partner.

How Power Purchase Agreements impact renewable energy goals

Understanding supply chain impacts on greenhouse gas emissions

Partnering to achieve sustainable production and sourcing of palm oil derivatives

What are Scope 1, 2 and 3 emissions?

Reach for Safer Cleaning Alternatives