26 Jul HollySys successfully went through the EcoVadis assessment by BASF commissioned in June this year
HollySys Automation Technologies is a leading provider of automation and information technologies in China that enables its diversified industry and utility customers to improve operating safety, reliability, and efficiency.
In recent years, HollySys had witnessed an increase in CSR (Corporate Social Responsibility) awareness in global enterprises. In order to further promote CSR, Hangzhou HollySys Automation Co., Ltd has represent HollySys Group to carried out an EcoVadis assessment based on an invitation by BASF. HollySys successfully went through the assessment and received a bronze medal in June this year.
What is EcoVadis?
EcoVadis operates the 1st collaborative platform allowing companies to assess the environmental and social performance of their global suppliers. EcoVadis combines technology and expertise to deliver simple and reliable ‘Suppliers Sustainability scorecards’, covering 150 purchasing categories, 21 CSR indicators and 140 countries. EcoVadis ratings are compatible with the GRI/G3 and ISO 26000 standards. EcoVadis helps businesses reduce risks and drive performance and innovation in their supply chain.
What is CSR?
Corporate Social Responsibility(CSR, also called corporate conscience, corporate citizenship or responsible business) is a form of corporate self-regulation integrated into a business model. The aim is to increase long-term profits and shareholder trust through positive public relations and high ethical standards to reduce business and legal risk by taking responsibility for corporate actions. CSR strategies encourage the company to make a positive impact on the environment and stakeholders including consumers, employees, investors, communities, and others.
What is TFS?
TFS (Together for Sustainability) is the name of the league sponsored by major companies in the chemical industry, whose purpose is to jointly review their common suppliers and improve the sustainable development of their global procurement supply chain. TFS membership includes BASF, Bayer, Sanofi, AkzoNobel, Henkel, Solvay chemical and pharmaceutical and many other Fortune 500 companies.
TFS element method is to examine the implementation of sustainable development. TFS choose EcoVadis as its supplier sustainability performance audit partners. In order to make more effective use of resources, reduce the burden on suppliers of communication work, TFS members to share their suppliers audit results and sustainable development.