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- 08/02/2023
- Chipboard panels
Sustainable management has always been a significant component of the corporate behavior of the Egger Group. More than 60 years ago, Fritz Egger Sr. decided to close his sawmill to focus on the production of wood-based materials. The guiding principle of the company was and still is based on an idea of sustainability: wood scraps are too precious to be thrown away, so they must be used as materials, transforming them into high-quality products.
Continuous improvement of its sustainability management
Even today, Egger takes responsibility for its products, production, employees and society and acts with future generations in mind. The company, which has set itself ambitious goals, has its performance assessed annually by the world's leading ESG rating agencies, where ESG (Environmental, Social, Governance) means the evaluation of criteria relating to the environment, social affairs and responsible business management.
Thomas Leissing, Chief Financial Officer of the Egger Group, said: 'We have high standards for our sustainability management and transparent reporting. Thanks to the objective analyses of external ESG rating agencies, we gain valuable information on how we can effectively translate our goals into our processes.
Two awards for sustainability performance
ISS ESG, one of the leading rating agencies in the sustainable investment segment, awarded the Egger Group 'Prime' status for the third time, reserved for the best companies in their respective market segments. ISS ESG follows a science-based rating concept: non-financial information relating to the environment, social affairs and governance is taken into consideration. Companies that meet or exceed the sustainability performance requirements defined by ISS ESG for a specific sector are awarded "Prime" status. These companies are therefore considered sustainability leaders in their industry. Egger ranked among the top 3 out of 49 companies in its sector evaluated by ISS.
Another award for sustainability performance came from EcoVadis, one of the largest providers of sustainability assessments in the world, which awarded Egger, for the fourth time, the silver medal. The evaluation is based on 21 criteria, divided into four thematic areas: environment, labor and human rights, ethics and sustainable procurement.
Circular economy at the heart of the business model
The circular economy is at the heart of Egger's business model: working in closed cycles contributes significantly to the conservation of fresh resources. The producer of wood-based materials is in fact a secondary processor of sawmill residues and post-consumer recycled wood from disposed products such as old furniture, pallets or packaging material. Egger uses fresh wood to a minimal extent; 64% of the wood used comes from recycling or by-products of industrial wood processing, such as wood chips and shavings. Wood residues that can no longer be recycled provide energy from renewable sources in the company's biomass power plants. At the end of their long service life, Egger products are themselves largely recyclable and can be reintroduced into the cycle.
