Press Release
Indorama Ventures joins “Together for Sustainability” initiative to enhance sustainable supply chain management
Bangkok, Thailand - 26 April 2023 - Indorama Ventures Public Company Limited (IVL), one of the world's leading sustainable chemical companies, has joined “Together for Sustainability” (TfS), a global initiative for sustainable supply chains. Indorama Ventures joins a network of 47 TfS member companies representing the global chemical industry, reinforcing its commitment to driving sustainable solutions in its supply chain management.
Yash Lohia, Chairman of the ESG Council at Indorama Ventures, said, “Together, we must pursue the path of sustainability within our value chain. At Indorama Ventures, our sustainability strategy is built on partnerships andcollaboration. With our purpose of reimagining chemistry together to create a better world, we are pleased to join ‘Together for Sustainability’ and stand with our peers in the chemical sector to enhance our joint decarbonization journey.”
By joining TfS, Indorama Ventures is encouraging suppliers to meet high sustainability standards, reduce the risk of supply chain disruptions, and improve overall climate maturity. The collaboration will help foster an expansion of the company’s sustainable supply chain program. The company will contribute to the TfS Scope 3 Greenhouse Gas (GHG) workstream that developed and finetunes the Guideline for calculating Product Carbon Footprints (PCFs) in the chemical industry and beyond and, will develop an IT solution that will enable companies to share PCFs efficiently. This membership allows Indorama Ventures to further align with the UN Global Compact Principles.
Through this initiative, Indorama Ventures will also be partnering with EcoVadis to assess our suppliers to identify risks and opportunities along the value chain, improve sustainability practices, and encourage collaboration among members.
Yash Lohia added, “Higher supply chain standards allow us to further our vision of being a sustainable chemical company, to meet our customers' expectations for greater transparency, and to ensure we are taking significant steps to reduce our environmental impact.”
Bertrand Conquéret, President, Together for Sustainability, said, “A very warm welcome to the Indorama Ventures team! The arrival of Indorama Ventures strengthens TfS’ global position. Together and with our strategic partners we will continue to expand our reach and increase our impact on the sustainability performance in chemical supply chains around the world. Given the regulatory landscape, the climate challenge, and market conditions, the need for sustainable businesses is only increasing. TfS is the crucial factor in making supply chains and businesses in general more sustainable and resilient and contributing to the development of a better world.”