TOP GLOVE INCLUDED ON DOW JONES SUSTAINABILITY INDICES (DJSI) FOR FIFTH CONSECUTIVE YEAR AND ACHIEVES ENHANCED SCORE IN FTSE RUSSELL ESG RATINGS
World's Largest Glove Manufacturer Recognised for Ongoing Commitment to Sustainability and ESG Excellence
Shah Alam, Monday, 18 September 2023 Top Glove, the world’s largest manufacturer of gloves, continues to demonstrate its unwavering dedication to advancing sustainable practices in its sector. Underscoring its sustainability leadership, the Company secured its fifth consecutive year on the prestigious Dow Jones Sustainability Indices (DJSI) 2023, under the Emerging Markets category, alongside notable improvements in its FTSE Russell Environmental, Social and Governance (ESG) Ratings score.
Within the Health Care Equipment & Supplies industry on the DJSI, the Company secured a top decile position, ranking within the top 3 per cent amongst industry peers. This achievement amply displays Top Glove’s commitment to sustainable corporate governance, supply chain management, innovation, environmental reporting, climate strategy, human rights, human capital development, and customer relationship management, all of which are key criteria assessed by the DJSI.
In addition to its DJSI accolade, Top Glove has continued to elevate its score in the FTSE Russell ESG Ratings. The Company now ranks among the top 13 per cent in the Health Care sector, further solidifying its position as an ESG leader. This not only places Top Glove at the forefront of the Health Care sector in the FTSE Russell ESG Ratings but also distinguishes it as a frontrunner in all three critical ESG themes in comparison to sector and industry averages. Notably, Top Glove saw improvements in the Environmental category and Social categories which saw a 3.7 per cent increase and a 2.4 per cent increase respectively, versus the previous year. This is a testament to Top Glove’s unwavering commitment to addressing environmental and social challenges while upholding exemplary corporate governance standards.
Mr. Lim Cheong Guan, Managing Director of Top Glove, expressed his satisfaction with these achievements, stating, “We are truly honoured with our fifth consecutive inclusion on the DJSI and our continued improvement in the FTSE Russell ESG Ratings. These accolades validate our steadfast dedication to the principle of ‘doing well by doing good’. We remain committed to making a positive impact on the communities we serve, while protecting the environment, and upholding strong ethical principles in our business practices.”
Top Glove attributes these remarkable accomplishments to its ongoing efforts to elevate sustainability standards across its operations and its transparent approach to ESG disclosures. In June 2022, the company launched its comprehensive Sustainability Policy, outlining commitments in the areas of environmental stewardship, social responsibility, governance, and traceability through FY2025.
The DJSI, administered by S&P Global, represents the top 10 per cent of the largest 800 companies in 20 emerging markets based on long term ESG criteria, serving as a global benchmark for assessing the sustainability performance of top ranking companies across diverse industries, considering economic, environmental, and social criteria.
Meanwhile, FTSE Russell’s ESG Ratings and data model empower investors to assess a company’s management of ESG issues across multiple dimensions. The ratings encompass an overall score, which is further broken down into Pillar and Theme Exposures and Scores, drawing from over 300 individual indicator assessments tailored to each company's unique circumstances.
For more information on Sustainability at Top Glove, please visit https://www.topglove.com/sustainability.
For more information on Top Glove, please visit https://www.topglove.com/.
About Top Glove Corporation Bhd
Top Glove Corporation Bhd is listed on the Bursa Malaysia Stock Exchange Main Board and Singapore Exchange Mainboard. It is also one of the component stocks of the FBM Top 100 Index, FBM Emas Index, FBM Hijrah Syariah Index, FBM Emas Syariah Index and the Dow Jones Sustainability Indices (DJSI) for Emerging Markets. A Forbes Global 2000 company, Top Glove is currently the world’s largest manufacturer of gloves with an established corporate culture and good business direction of producing consistently high quality, cost efficient gloves. Top Glove has over 2,000 customers worldwide and exports to more than 195 countries.