A Taste of Wellness for Savoury and Snacks
Givaudan
"We are very proud of this recognition," said Anna Lise Mortensen Grandjean, vice president, stakeholder communication and sustainability development at Novozymes.
"I believe that our impressive performance in an analysis of 120 different factors has to do with the fact that sustainability is part of our way of doing business. Our efforts are not for the sake of appearances, but because we believe that sustainable development creates value for the company and its shareholders."
The Global 100 list of the most sustainable companies in the world for 2007 is the result of studies and research of 1800 international companies carried out by Innovest Strategic Value Advisors and Corporate Knights.
It is designed to provide information to investors with an interest in sustainable companies and serves as a benchmark for companies' sustainability performance.
The Danish enzyme giant has gained a reputation as a sustainable business. Last year, Novozymes also took the top position in Dow Jones Sustainability Group Index's biotech category.
The annual review by the DJSI family is based on an assessment of corporate economic, environmental and social performance, and examines issues such as corporate governance, employee development, climate change, supply chain standards and labour practices.
The issue of sustainability is something that will only increase in importance. According to a recent PricewaterhouseCoopers report, consumers are increasingly conscious about which companies have been quickest to adapt to more sustainable practices.
Exploitative sourcing is now a mainstream issue, while the dramatic growth of fair trade is pulling food consumption out of the cost-is-all bracket, with consumers prepared to pay more for guarantees of fair labour practices and sustainable sourcing. Products marked 'natural' or 'organic' are flying off the shelves, with fair trade sales in the UK, alone, growing by more than 40 per cent a year.
Recognition of Novozymes' sustainability follows the company's strong performance in 2006. Earnings grew by 11 per cent while sales increased 8 per cent.
"We are very satisfied with the results for 2006," said Novozymes president Steen Riisgaard.
"Sales developed as expected and, although the price trend for raw materials and energy worked against us, our productivity improvements enabled us to achieve higher earnings than originally expected."
Novozymes continues to dominate the enzyme market with about a 50 to 60 per cent share. US biotech firm Genencor, which now belongs to Danisco after acquisition clearance last year, falls into second place with an approximate 30 per cent slice.
The final Global 100 identifies companies that have successfully managed environmental, social and governance risks and have taken advantage of new business opportunities within this field.
The first Global 100 list was launched in 2005. The list is updated annually and like the previous two years, the list for 2007 was presented in connection with the World Economic Forum in Davos.