Top Glove demonstrated its robust commitment to sustainability practices with an improved position on the renowned Dow Jones Sustainability Indices 2022 (DJSI) for the fourth year in a row, under the Emerging Markets category, as well as improved scoring on the FTSE Russell Environmental, Social and Governance (ESG) Ratings.
For the DJSI, as at 23 September 2022, the glovemaker scored 67 out of 100, reflecting an improvement of 8 points over the past year.
The glovemaker had performed in the top decile in the Health Care Equipment & Supplies industry in the S&P Global Corporate Sustainability Assessment, ranking top 6% among its industry peers, outperforming 94% of companies in its industry category.
The sustainability criteria assessed for the DJSI include corporate governance; supply chain management; innovation management; environmental reporting; climate strategy; human rights; human capital development; and customer relationship management.
Additionally, on the FTSE Russell ESG Ratings, Top Glove scored 3.7 out of 5.0, reflecting an increase of about 20%, ranking among the top 16% in the Health Care sector.
For Environmental, the company has improved 28% to 3.7; for Social, it improved 21% to 2.9; and for Governance, it improved 12% to 4.6 compared with the previous year.
The criteria assessed for the FTSE Russell ESG Ratings include pollution and resources; climate change; water security; environmental and social supply chain; labour standards; health and safety; human rights and community; anti corruption; risk management; and corporate governance.
Top Glove Managing Director Mr. Lim Cheong Guan said: “We are very pleased with the Company’s inclusion on the DJSI for the fourth consecutive year as well as the improved scoring for both DJSI and FTSE Russell ESG Ratings.
“This is a testament to our firm commitment to doing well by doing good. Backed by our strong business ethics and governance, we strive to ensure our business practices make a positive impact in the communities we serve and operate, while doing what we can to protect the Earth.
“As the world is facing multi faceted challenges in the economic, environmental and socio political realms, we affirm our promise to be a force for good, for our current generation and the generations to come.”
Top Glove believes that among the key contributors to the improved scoring are its ongoing efforts towards higher standards of sustainability across its operations as well as its transparency in disclosures with regards to ESG practices.
“As part of the Company’s commitment to sustainable practices, it launched its Sustainability Policy in June 2022, which outlines its commitments in the areas of environmental, social, governance, and traceability up to FY2025, with FY2021 as a baseline.
The DJSI, run by S&P Global, headquartered in the U.S., is the first global sustainability benchmark that assesses top ranked companies within each industry in terms of economic, environmental and social criteria.
FTSE Russell’s ESG Ratings and data model, allows investors to understand a company’s exposure to, and management of, ESG issues in multiple dimensions.
The ESG Ratings are comprised of an overall rating that breaks down into underlying Pillar and Theme Exposures and Scores. The Pillars and Themes are built on over 300 individual indicator assessments that are applied to each company’s unique circumstances. – BACALAHMALAYSIA.MY
