- Greater transparency in sustainability reporting and improved management of ESG risks lead to better rating result
- Rating of “medium risk” in total score maintained
EEW Energy from Waste (EEW) has improved its ESG rating by 2.6 points compared to the first Morningstar Sustainalytics rating report from 2022. This is the result of a comprehensive analysis of ecological, social and economic ESG risks as well as their management by the company.
EEW has managed the risks defined for the company more effectively and lowered the total score of 23.4 in 2022 to 20.8 in this year. “The improvement in our ESG risk rating not only reflects our commitment to the environment, social aspects and governance factors but also underlines our long-term affirmation of sustainable growth and responsible management”, states Timo Poppe, CEO of the EEW Group, in assessing the latest rating result. “We are proud to have improved our rating score. That spurs us on to continue organising our business activities responsibly and ensuring that they are viable for the future”, Timo Poppe continues.
In the previous year, EEW had revised the structure of the sustainability report and also refined its sustainability strategy which is based on an updated materiality analysis and takes account of the relevance of ecological, social and economic issues for internal and external stakeholders. The report gives a detailed account of the targets, measures and management elements implemented to actively control the impact of business activities on the environment and stakeholders. “The ESG risk rating is already creating genuine value added for our company as we not only benefit from better finance terms but also raise our visibility as an essential component in the circular economy”, Stefan Schmidt, CFO of the EEW Group, explains.
EEW’s next sustainability report will be published in May 2024. It will detail the measures implemented to control the sustainability strategy and the progress made in reaching the targets in accordance with the EEW sustainability roadmap.
The Sustainalytics ESG risk rating evaluates the environmental, social and governance risks to which companies are exposed and how well they manage them. The rating is based on a scale of 0 to 100 with a lower score representing a lower risk. These independent, external ratings offer both customers, institutional investors and capital market participants a reliable guide to financing and investment decisions.
You can find further information in the rating report and at www.reden-wir-ueber-morgen.com.
EEW Energy from Waste GmbH (EEW) is one of the leading companies in Europe in the field of thermal recovery of waste and sewage sludge. EEW Energy from Waste is already making an important contribution towards protecting the climate and resources and is a key player in the circular economy. Our corporate group currently operates 17 sites that can process around 5 million tonnes of waste per year. The more than 1,400 employees at our plants ensure that the energy stored in waste is utilised, the volume of waste is reduced, the hazards caused by waste are eliminated safely and without negative impact, and that scrap metals and compound materials are recycled. Moreover, we efficiently utilise the energy contained in waste to generate process steam for industrial plants, district heating for residential areas and environmentally sustainable electricity. In line with our vision for the future, we have set a goal to be climate neutral by 2030 and climate positive by 2045. A key measure in addition to carbon reduction will be carbon capture at our facilities. The captured carbon will be partly stored underground or utilised as a valuable feedstock for chemical products in a carbon-neutral economy of the future.
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