ECO EcoSynthetix Inc

BURLINGTON, ON, Jan. 16, 2023 /CNW/ - EcoSynthetix Inc. (TSX: ECO) ("EcoSynthetix" or the "Company"), a renewable chemicals company that produces a portfolio of commercially proven bio-based products, today announced that it has received its second consecutive Platinum designation by EcoVadis, a globally recognized agency for business sustainability ratings of supply chains. EcoSynthetix scored within the top one percent of the 90,000 companies rated.

"Sustainability is fundamental to us. It's our daily business. Our bio-based binders offer a sustainable alternative compared to conventional petroleum-based binders used by manufacturers," said Jeff MacDonald, CEO of EcoSynthetix. "This Platinum designation from EcoVadis reflects both our product offering and our approach toward sustainability, environmental stewardship and governance. Achieving a 99^th percentile ranking in our first two years of participating in the program is a credit to our team. The market is moving to us as it searches for sustainable alternatives. Independent third-party rankings support our outreach activities. Consumers and retailers are increasingly aware of the production and supply chain practices of manufacturers. We offer a solution that directly addresses these issues, reducing their carbon footprint with a healthier offering."

Based on its rating, EcoSynthetix' program qualifies as a structured and proactive sustainability approach. The Company exhibits engagement and tangible actions on major issues with detailed implementation information with significant sustainability reporting on actions and key performance indicators.

EcoVadis provides the leading solution for monitoring sustainability in global supply chains. The EcoVadis scorecard provides an independent assessment of a company's ESG management system. It measures 21 corporate social responsibility criteria, grouped into four key areas: Environment, Labour & Human Rights, Ethics and Sustainable Procurement.  The Platinum designation is the highest rating and only one percent of the companies measured attain this designation. EcoVadis' evidence-based ratings are validated by a global team of experts and are adapted to more than 200 industry categories, 160 countries, and companies of all sizes. Its actionable scorecards provide benchmarks, insights, and a guided improvement journey for environmental, social and ethical practices.

EcoSynthetix offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind™, Bioform™, and EcoSphere®, are used to manufacture wood composites, personal care products, and paper and packaging, and enable performance improvements, economic benefits and carbon footprint reduction. The Company is publicly traded on the Toronto Stock Exchange (T:ECO).

SOURCE EcoSynthetix Inc.