HS Orka received an overall score of 76/100 and an EcoVadis Gold rating and certification. This result signifies that the company is among the top 5% of companies covered by EcoVadis globally, which includes over 150,000 companies.
Strengths and Opportunities for Improvement
According to the EcoVadis assessment, HS Orka’s strengths in the field of sustainability lie primarily in the areas of environmental management and occupational health & safety. Policies and goals are effectively followed up with clear actions in support of environmental protection, safety, workplace well-being, and human resource development.
Other elements highlighted in the assessment as strengths include quality certifications and standards that the company’s management system adheres to, third-party assurance of non-financial information, and life cycle assessments of the climate impact of power plants.
The assessment also identifies various opportunities for improvement. It is mentioned that policies, objectives, and actions could be made more specific and clearly defined. Also, it is suggested that climate-related targets and actions could be defined further and aligned in more detail with global protocols.
Sustainability Assessment of HS Orka’s Suppliers
HS Orka’s value chain is broad in nature, both domestically and internationally. Hundreds of suppliers provide HS Orka with important and often specialized goods and services that enable the company’s value creation. The composition of HS Orka’s supply chain at any given time depends on the status of specific projects, maintenance work and new investments in the field of renewable energy.
For further progress in sustainability it is important for HS Orka that the operations of suppliers in the value chain align with HS Orka’s priorities. In 2023, the Icelandic assessment company Reitun carried out a detailed sustainability evaluation of ten key HS Orka suppliers, marking the first time a third party was engaged for such audits. In 2024, HS Orka commissioned assessments of ten additional Icelandic suppliers, and the sustainability performance of two foreign suppliers was evaluated by the international rating agency EcoVadis. By the end of 2024, nearly 69% of the company’s total procurement expenditure was with companies that had recently been subject to a sustainability assessment by a third party.
