External sustainability assessors

Thule Group uses the Global Reporting Initiative (GRI) guidelines for our annual sustainability reporting.
In addition to also reporting our annual sustainability performance and progress to the United Nations Global Compact, Thule Group reports sustainability data annually to CDP and to EcoVadis. We continuously strive to make our sustainability reporting more comprehensive, accurate, and transparent.

Sustainability ratings are becoming an increasingly important consideration for financial investors and other stakeholders. Thule Group actively participates in the annual review processes of external sustainability rating agencies whenever possible, to ensure use of accurate sustainability data in the formulation of new ratings. We are proud to be highly ranked by multiple renowned sustainability rating agencies, both in terms of our sustainability performance and risk management.

The following sustainability rating agencies assess Thule Group annually, in terms of sustainability and ESG performance.

CDP

CDP is a global non-profit organization that allows companies to report on their environmental impacts, governance, strategy, risks, and opportunities. Thule Group completes the annual Climate Change questionnaire, then receives an assessment and score. Many ESG assessment organizations use CDP as a main source of information.

You can access all the data from Thule Group at CDP via the CDP homepage.

Thule Group was rated C på CDP in 2022.

CDP Supplier Engagement Rating
CDP also annually compiles a “Supplier Engagement Rating” (SER).
The SER assesses performance on governance, targets, scope 3 emissions, and value chain engagement. The SER provides a rating for how effectively companies are engaging their suppliers on climate change.

The background to this rating is that a company's total climate impact is often many times greater when looking at supplier activities beyond its operations. Because of this, companies have much greater potential to reduce greenhouse gas emissions by influencing their supply chains
Please visit the CDP website for more information about the Supplier Engagement Rating and its methodology.

Thule Group has been graded A- in CDP's SER rating which is the highest grade in the CDP SER grading.

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DOW JONES SUSTAINABILITY EUROPE INDEX (DJSI)

In 2023, Thule Group was, for the second time in a row, included, in the S&P Dow Jones Sustainability Europe Index (DJSI). Dow Jones Sustainability Europe Index includes the top 20% of the top 600 European companies in the S&P Global Broad Market Index in terms of sustainable development.

Thule Group is included in the category "Consumer Durables & Apparel”.
 

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Ecovadis

EcoVadis provides independent sustainability assessments and ratings for companies which have global supply chains. The EcoVadis overall score (0-100) reflects the quality of the company's sustainability management system at the time of the annual assessment. The EcoVadis sustainability recognition levels are based upon the percentile ranking of the company's EcoVadis score, and a so called theme score.
Read more about the EcoVadis scoring at their website.

In 2020, Thule Group moved from Gold to EcoVadis's highest rating, Platinum, for its sustainability work and we have stayed there since.

Thule Group got 75 out of a maximum of 100 points and thus belongs to the best 1 percent of all the more than 65,000 companies in 160 countries that EcoVadis reviews.
We have kept that rating since.

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Gaia

Gaia ESG ratings is a branch of the French company, EthiFinance. Gaia ESG ratings provide annual assessments and scores for small and medium sized companies.

In 2021 Thule Group gets the rating 76 out of maximum 100.

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ISS-oekom

ISS-oekom is a company within the ISS Group that makes annual assessments both of the company's work in ESG and more specifically in the Corporate Governance work and processes.

Thule Group gets the rating C+ (Prime) of the maximum A+.

Our work and our processes in the field of Corporate Governance receive the highest score, 1 out of 10.
ISS are defining the grades in relation to "risk" for the company to not comply in the field of Corporate Governance in a scale of 1 to 10 with 1 being the lowest risk and 10 being the highest risk. Thule Group runs, acodring to ISS-oekom, the lowest risk for non compliance.

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MSCI

MSCI is a global company that provides various stock market indexes and assessments. MSCI ESG Research LLC assesses and scores Thule Group annually.

The MSCI ESG Rating is designed to measure a company’s resilience to long-term, industry material environmental, social and governance (ESG) risks. The MSCI ESG Ratings range from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC).

Thule Group have had the highest rating, AAA, since 2016.

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NASDAQ Listing Center

The Nasdaq Listing Center is a subsidiary of Nasdaq Inc., which owns and operates nine global exchanges. To ensure transparency on the stock exchanges, the Nasdaq Listing Center collects information annually on the listed companies' ESG data.

Thule Group is transparent when it comes to sharing ESG data and actively participates in this annual data collection by updating the data already registered and, where appropriate, updating with additional data. The Nasdaq Listing Center does not give the participating companies ratings or points, but rather collects ESG data to help investors make decisions.

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South Pole

South Pole is a leading and well-established consultant who helps its clients with data audits, strategies and action plans to reduce companies' climate impacts.

As part of Thule Group's ambition to be correct and transparent in its sustainability work, we include South Pole's audit statements and report on the independent audit they do in relation to our data on greenhouse gas emissions.

Our greenhouse gas emissions are an important factor in our sustainability reporting and we believe that formal audits, in parts of the sustainability area, will soon become an accepted standard.

Read more about South Pole Read more about South Pole´s auditing process

Sustainalytics

Sustainalytics is one of the global giants in providing ESG data and ratings to the investment community. They use public ESG data to annually assess and score  companies according to their sustainability performance. They makes its rating in two dimensions I) assessment of the overall ESG performance, and II) risk from an ESG perspective of investing in the company.

Thule Group ranks Top 50 in the world of all companies and No.1 in our category
In the 2022 assessment Thule Group is overall ranked at position number 50 in relation to all the 15,638 companies assessed by Sustainanalytics. On top of this Thule Group is top-ranked globally in our defined industry (Consumer Durables) and is  thus one of total  three European companies on that list.

In 2022 Thule Group received a rating of 68.5 of the maximum 100 and the lowest level of ESG risk, negligible.

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