DIC Subsidiary in Thailand Achieves Silver Medal in EcoVadis Sustainability Assessment -Placed in the top 10% of suppliers (medium-sized category)-
- News Release
Tokyo, Japan–DIC Corporation announced today that Bangkok-based subsidiary Siam Chemical Industry Co., Ltd., which manufactures a wide range of polymer products, including coating resins, has achieved a silver medal in the sustainability assessment conducted by EcoVadis, based in France.
EcoVadis uses its own platform to assess and rate the sustainability of suppliers across 190 industrial sectors in 150 countries. The company operates a collaborative platform that enables companies to monitor the corporate social responsibility (CSR) (sustainability) performance of their suppliers and provides objective ratings of suppliers’ performances in four categories: environment, labor practices and human rights, ethics and sustainable procurement.
Siam Chemical Industry’s silver medal reflects the high score it earned in the EcoVadis assessment, which placed it in the top 10% of suppliers rated by the organization. The company, which has long promoted a variety of sustainability initiatives, has also received a CSR-DIW award,* given out annually by Thailand’s Ministry of Industry, for seven consecutive years.
DIC works with its approximately 170 Group companies around the world to conduct its operations in a manner designed to help realize a sustainable society. Going forward, we recognize that companies will be expected to focus on growing sustainably with society by achieving a balance between social value, that is, value that contributes to the resolution of social imperatives, and economic value, which underpins corporate growth. Guided by its “Color & Comfort” brand slogan, the DIC Group will continue working to strengthen its environmental, social and governance (ESG) initiatives—which are closely linked to its operations—and to expand its disclosure, and at the same time will step up efforts to contribute to social sustainability.
* The CSR-DIW Award program was established in 2008 by the Ministry of Industry’s Department of Industrial Works (DIW) with the goal of raising the global competitiveness of Thai companies. Awards are given annually to companies in recognition of CSR (sustainability) initiatives judged as exceptional from the perspective of seven core subjects defined in ISO 26000, the International Organization for Standardization’s standard for social responsibility (organizational governance, human rights, labor practices, the environment, fair operating practices, consumer issues, and community involvement and development).
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