Ence consolidates its leadership in sustainability, according to the “Sustainalytics ESG Rating”

Ence consolidates its leadership in its sector in environmental, social and corporate governance issues, as recognized in its latest report in May 2023 by the rating agency ESG Morningstar Sustainalytics, which has established the company’s score in managing these aspects in the 90 points out of 100. A result that places Ence ahead of all the companies in its sector evaluated by Sustainalytics, and 6 points above the second best valued company.

Sustainalytics is one of the leading ESG analysts. Its rating evaluates the performance of more than 15,500 companies around the world. The ESG criteria analyzed take into account both environmental, social and corporate governance aspects of companies.

The latest Sustainalytics analysis points to Ence as a leader in sustainability by virtue of its leadership in environmental and social issues, as well as its outstanding performance in terms of governance. In short, this analyst firm considers Ence’s management of ESG aspects to be solid in key areas such as environmental protection, health and safety, and sustainability throughout the supply chain.

Among other issues, the document highlights the strength and solidity of Ence’s sustainability strategy, controlled by a specific Sustainability Committee, chaired by the company’s CEO and made up of the General Managers of its different business areas. The company also has independent directors who are experts in this field. The main function of said Committee is to promote the company’s sustainability strategy and initiatives.

Another of the factors that have been taken into account when identifying Ence as a leader in sustainability is the reduction achieved in water consumption per ton of cellulose produced in its two biofactories (Navia and Pontevedra). The company achieved a 14 percent reduction in 2022 compared to the previous year. This demonstrates, adds Sustainalytics, the company’s effectiveness in terms of water management and, in general, its strength in managing the use of resources.

On the other hand, the document indicates that Ence has a very robust environmental policy, backed by an equally solid environmental management system, certified in accordance with international standards and in line with the best practices in the sector. At its pulp mills, and also at renewable energy plants, the company monitors, measures and reports on these issues, while also taking initiatives to minimize its emissions. In addition, the pulp manufacturing process applied by Ence in its biofactories has a positive influence, in which the products used are recovered and reintroduced into the cycle, in an example of circular economy.

Regarding the company’s decarbonization strategy, Sustainabilitycs also underlines the consistency of Ence’s management. In a context such as Europe, in which regulations on greenhouse gas emissions are increasingly demanding, it is worth noting the company’s commitment to installing photovoltaic generation and operational improvements that promote the stability of the processes and, therefore, reduce the demand for fossil fuels.

Sustainabilitycs also highlights the program to reduce greenhouse gas emissions implemented by Ence, as well as the company’s new projects to promote decarbonization by switching from fossil fuels to renewables and for the production of biomethane through its new subsidiary Ence Biogas.

Sustainability is a fundamental pillar for Ence, fully incorporated into its vision of the activity that the company carries out in the pulp sector -fully aligned with the circular economy and the bioeconomy- and in that of renewable energy. The company also conceives sustainability as synonymous with competitiveness and works to contribute, through its activity, to green recovery, energy transition and decarbonisation.

Copyright ©2023 Morningstar Sustainalytics. All rights reserved. This [publication/ article/ section] contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary to Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers