HMD Global made two announcements on June 8. First is the launch of Nokia C01 Plus, and the other is that HMD Global is now among the top 6% companies within EcoVadis’ audit. As a result, the global sustainability rating provider, EcoVadis, awarded HMD Global the 2021 Gold sustainability medal.
It seems a bit off that HMD Global in the media release claims that it secured the Silver EcoVadis medal last year. However, the UK Modern Slavery Act Statement section on HMD Global’s website says that they reached the Silver level in 2018 and were attempting the Gold level by 2020. Anyways, HMD Global also mentions that it had 657 direct employees in September 2020 based in over 50 nations.
The EcoVadis medals are awarded based on the company’s performance across seven management principles and 21 CSR (Corporate Social Responsibility) standards under the themes like environment, ethics, labor & human rights, and sustainable procurement. Being in the phone-making industry, HMD Global needs to take care of these aspects in the supply chain, material sourcing, manufacturing, packaging, shipment of products, etc.
Each company is given a score out of 100. EcoVadis then groups the company into four tiers depending on the relative ranking of the company’s overall score. Platinum is the first tier and consists of the top 1% of companies with an overall score between 73 and 100. Gold is the subsequent tier formed by the next top 5% of the companies, with a minimum score of 66.
The following top 25% is put into the Silver category with a score in the range of 54 and 65. Bronze medal holders make it for the next top 50% with a minimum score of 45. The scores remain valid for a year, and then the companies need to get reassessed for their quality of sustainability management.
Interestingly, Nokia Corporation is already in the first tier (Platinum), while HMD Global has now made it to the second. Lately, Nokia Mobile’s marketing campaigns have been focusing a lot on sustainability and durability of Nokia smartphones, especially the X series.