Neptune Energy today announced it has been awarded silver medal status from the environment, social and governance (ESG) ratings organisation, EcoVadis. The upgrade places Neptune in the top 25% of all 75,000 global organisations assessed by EcoVadis.
EcoVadis assesses companies’ policies, actions and performance disclosures in the areas of environment, labour and human rights, ethics and sustainable procurement.
In its report, EcoVadis highlighted Neptune’s disclosure of emissions data and quantitative targets, strong environmental management practices, and comprehensive ethics policies and procedures.
The report stated: “The company has implemented new solutions or concrete actions on environmental issues … these innovative practices are advanced and pioneering for the sector, and demonstrate a clear best-practice approach beyond regulatory compliance.”
It also noted the significant improvement Neptune made in sustainable procurement, recognising the company’s new supply chain policy which incorporates both social and environmental considerations, and assessment of suppliers in areas including human rights.
EcoVadis’ upgrade follows an upgrade by Sustainalytics in March this year, which put Neptune in the top 3% of all exploration and production companies rated by the organisation.