Elo achieves Platinum, the highest level in the EcoVadis sustainability assessment

Elo Mutual Pension Insurance Company scored 87 points in the EcoVadis assessment, placing it among the top 1 per cent of participating companies. The result was more than 40 per cent above the global industry average. Elo’s score increased by 10 points from last year and by 20 points from its 2023 level.

− Sustainability work and pension insurance both require long-term commitment and perseverance. Achieving EcoVadis Platinum is evidence of the focused development work we have carried out over many years. Sustainability is genuinely part of everyday life at Elo, and this is reflected in our ways of working, our people practices, our investment operations and our procurement,” says Katja Veirto, Director of Sustainability and Public Affairs.

Scores increased across all sustainability themes

EcoVadis assesses companies across four themes: Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. Performance against the various criteria is assessed based on policies and principles, practical measures and results. The external assessment makes sustainability work comparable and verifiable.

In the latest assessment, Elo received the following scores:

• Environment: 90/100 (+7 points)
• Labor & Human Rights: 86/100 (+11 points)
• Ethics: 87/100 (+7 points)
• Sustainable Procurement: 81/100 (+16 points)

− We have set clear goals for our sustainability work and regularly track our progress using metrics. For example, we assess themes related to employee work ability and well-being together with employee representatives. This helps us identify areas for improvement and promote well-being over the long term,” explains Marketta Ekholm, HR Manager.

The result was boosted by clarified principles across all themes, more comprehensive reporting, clearer goals and monitoring of those goals, as well as employee training on topics such as the role of ICT in climate and environmental work.

Elo’s result clearly above the industry average

EcoVadis classifies Elo in the insurance, reinsurance and pension funding sector. The global average for the sector was 61 points. Elo’s score of 87 was therefore more than 40 per cent above the industry average. Systematically developing sustainability supports Elo’s goal of managing its customers’ pension security reliably over the long term.

Learn more about Elo's EcoVadis Platinum Medal and assessment results