Colorno, October 24th, 2023.
Sustainability is the is the core commitment of Transfer Oil, where we take pride in integrating social and environmental concerns into our business operations. Going beyond mere regulatory compliance, we conscientiously manage our economic, social, and environmental impacts, as well as improving relationships with all stakeholders, including our valued employees, trading partners, and the authorities.
This strong commitment to sustainability finds its expression in the ESG (Environment, Social, Governance) factors, which increasingly serve as a vital assessment of a company's positioning and reliability. At Transfer Oil, our path towards ESG includes numerous concrete actions. For example, the recently installed solar park totally covers the roofs of Transfer Oil headquarters and production plant and, with about 5.000 photovoltaic panels, it generates a peak power of about 2 megawatts covering more than 80% of the company's energy needs and therefore notably reducing our carbon footprint. Transfer Oil solar park - Transfer Oil S.p.A. - Thermoplastic hoses & Fittings
Recently, to improve our positioning in the supply chain, we decided to certify our sustainability level. Then, we have been meticulously investigated and rated by Ecovadis, the world's largest and most trusted provider of business sustainability ratings. With a presence in 110 countries and active in 150 business sectors, Ecovadis strives to improve environmental and social practices across global supply chains.
The rigorous EcoVadis methodology framework evaluates companies' policies and actions related to the environment, labor and human rights, ethics, and sustainable procurement. We are pleased to announce that, thanks to our commitment and published reporting, TransferOil has successfully completed the Ecovadis evaluation and achieved the Bronze Medal rating, willing to further improve and commit, and therefore reach the Silver Medal in the next assessment.
This achievement witnesses our continuous efforts to improve our sustainability rating. Our success would not have been possible without the adoption of our Code of Ethics
and compliance with the 231 Organizational Model at the beginning of this year. These critical initiatives have laid the foundational principles for sustainable growth, reinforcing our dedication to inclusion, environmental responsibility, and the well-being of people, all of which have been at the heart of our company's work and development.