MOSCOW (MRC) -- Arkema says it has become the ninth member of the Together for Sustainability (TfS) initiative, founded in 2011 by BASF, Bayer, Evonik Industries, Henkel, Lanxess and Solvay, as per the company's press release.
The goal of TfS is to develop and implement a global assessment and audit program to evaluate and improve sustainability practices in chemical industry supply chain. For this purpose, TfS members involve EcoVadis (Paris), a company specialized in corporate social responsibility (CSR) performance assessment, to measure the commitment of their registered suppliers.
For this purpose, TfS members involve EcoVadis, a company specialized in CSR (Corporate Social Responsibility) performance assessment, to measure the commitment of their registered suppliers. Independent audit companies are also conducting supplier audits on many criteria aiming at improving sustainability practices.
"The value of this approach is to share assessments and audits results between all TfS members on a web-based platform, instead of doing all of them separately on our own. Therefore it relieves both suppliers and customers from redundant audit workload. The platform is also a very convenient way to highlight CSR best practices" emphasizes Louis Schmidtlin, Goods and Services Procurement Vice-President.
As MRC informed before, Arkema announced the launch of a share capital increase with preferential subscription rights of shareholders for an amount of around EUR350 million, whose principle had initially been announced on 19 September 2014. This rights issue is part of the refinancing of the projected acquisition of Bostik.
Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.
MRC