EcoSynthetix Named to 2023 Best 50 Corporate Citizens in Canada for Second Consecutive Year
BURLINGTON, ON, June 28, 2023 /CNW/ - EcoSynthetix Inc. (TSX: ECO) ("EcoSynthetix" or the "Company"), a renewable chemicals company that produces a portfolio of commercially proven bio-based products, today announced it has been named one of the top 50 Corporate Citizens in Canada in the 22nd edition of the Corporate Knights' ranking, an independent media and research B Corp which specializes in sustainability. It is the second consecutive year EcoSynthetix has been named in the Best 50 ranking.
"Our bio-based polymers replace conventional fossil-based binders that are used in products we all bring into our homes, workplaces and schools every day," said Jeff MacDonald, CEO of EcoSynthetix. "As a technology company committed to sustainability, the use of our biopolymers can help manufacturers of wood composites, personal care, paper, tissue and packaging products reduce their carbon footprint and pursue their climate goals. This recognition from Corporate Knights is further validation of our approach to these multi-billion-dollar end markets that sustainable products can work just as well, or better, and don't have to cost more."
EcoSynthetix aims to embed environmental stewardship in all aspects of its business. The Company's "Carbon Commitment" calls for carbon footprint reductions enabled by the use of EcoSynthetix' products by its customers that target to avoid 100% of the carbon emissions associated with its business, which would result in a 1:1 carbon cover, making EcoSynthetix a climate positive business. Management believes the Company can achieve its mid-term goal to have a 1.5:1 carbon cover by 2027, meaning that carbon footprint reductions enabled by the use of EcoSynthetix' products by its customers should avoid 150% of the carbon emissions associated with its business.
Inaugurated in 2002, the Corporate Knights annual ranking is based on an assessment of all Canadian publicly traded, privately owned and Crown corporations evaluated on a set of up to 25 key performance indicators. All companies are scored on applicable metrics relative to their peers, with 50% of the weight assigned to sustainable investment and sustainable revenues. The ranking relies on publicly available information and is distinguished by its transparent and quantitative methodology. A digital version of the ranking and further contextual and methodological information is available here.
EcoSynthetix offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. The Company's flagship products, DuraBind™, Surflock™, Bioform™ and EcoSphere®, are used to manufacture wood composites, personal care, paper, tissue and packaging products, and enable performance improvements, economic benefits and carbon footprint reduction. The Company is publicly traded on the Toronto Stock Exchange (T:ECO).
Corporate Knights Inc. is an independent media and research B Corp. Its media division publishes the award-winning sustainable-economy magazine Corporate Knights, circulated in The Globe and Mail, The Washington Post and The Wall Street Journal. Its research division produces sustainability rankings, research reports and financial product ratings based on corporate sustainability performance. Learn more at corporateknights.com.
SOURCE EcoSynthetix Inc.
Investor Relations: Ross Marshall, Phone: (416) 526-1563, E-mail: [email protected]
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