GfK awarded Silver Medal for its sustainability rating
by Will Hammond
GfK has been awarded its second Silver Medal by business sustainability rating provider, EcoVadis, in recognition of its high for environmental, social and governance (ESG) performance. GfK's score places it in the top 5% of all companies rated by EcoVadis in Advertising & Market Research.
Measuring and tracking corporate sustainability is important because being proactive on ESG is a non-negotiable factor for businesses today. In the B2C space, GfK's own data demonstrates the extent to which consumer purchases are influenced by the eco-credentials of the brands on offer and, in B2B engagements, companies habitually include ESG measures as criteria in their supplier evaluations.
GfK's overall sustainability rating
In 2022, GfK’s overall EcoVadis score increased by 9 points to 65. This is an improvement of 14 percent over its 2021 rating and places GfK in the ‘advanced’ level for sustainability performance. It also puts GfK in the 89th percentile of all rated companies (up from the 73rd percentile in 2021) and in the top 5 percent of companies rated within the market research industry (up from the top 14 percent in 2021).
Where has GfK most improved its sustainability ratings?
The biggest improvement was in the Sustainable Procurement theme, where GfK's score increased by 20 points to 50, representing a huge 40 percent improvement. The key measures that GfK took to improve in this area included:
All GfK's procurement staff completing ethical training to increase awareness around responsible sourcing strategies in our supply chain
Key suppliers signing GfK's updated Supplier Code of Conduct – a new initiative that requires commitment to high environmental, ethical and labor standards
GfK conducting an ESG risk screening of its supply chain
GfK holding ESG training sessions with several key suppliers
Other notable increases in GfK's ratings were in the Labor & Human Rights and Environment themes, where GfK increased each score by 10 points. Key contributing factors to these increases were:
GfK's alignment of ESG reporting with recognized sustainability reporting standards (namely the Global Reporting Initiative Standards)
Introduction of further diversity, equity and inclusion (DE&I) initiatives by GfK HR
Improvement in GfK's reporting on environmental impacts such as carbon emissions
GfK’s Carbon Offset project
For the first time, EcoVadis also supplied a Carbon Scorecard in which GfK achieved an ‘intermediate’ rating for its carbon management level.
Lars Nordmark, Interim CEO and CFO, commented that the results, “reflect the positioning of environmental, social and governance topics alongside GfK’s core value of trust”, and that “being rated in the top 5 percent of companies in our industry is a remarkable result given the short time since GfK overhauled its ESG reporting in 2020”.
GfK will continue its Environmental, Social and Governance efforts. Questions about the EcoVadis score and client inquiries about GfK’s ESG efforts can be addressed to the team at email@example.com.
Find out more about GfK's commitment to sustainability and protecting the environment: