EcoVadis, the agency, is described as the first collaborative platform that supplies independent supplier sustainability ratings, and uses 21 CSR criteria and international CSR standards.
This is the second time Lipoid Kosmetik has been awarded a ‘gold’ standard by the agency, according to the Swiss company.
“Sustainable economic, environmental and social practices are a crucial focus of our company philosophy,” it notes in a statement.
It’s becoming impossible to ignore the central role sustainability is now playing in the beauty and personal care industry.
In confirmation of this, Unilever recently stated that those of its brands which have signed up to its Sustainable Living Plan have been enjoying 30% faster growth than those which haven’t.
With the rise of the millennial consumer group, we are seeing this mounting focus on brand purpose, with ethical and environmental efforts increasingly a key requirement driving consumer decisions.
In a recent Euromonitor survey into the issue, three quarters of the youngest age group (15 - 29) of global consumers surveyed said they would spend at least a little more on products that are environmentally or ethically conscious, with many saying somewhat or a lot more.
Lipoid Kosmetik’s recent rating appears to mark it out as one of the leaders when it comes to sustainable ingredients suppliers for the industry.
It came in some way above average across four key CSR categories: environment, labour practice, fair business practice and sustainable procurement.
“We continuously make every effort to improve our economic, environmental and social performance, in order to meet our ambitious sustainability policy, and optimally serve our customers’ needs,” the company states.