GENEVA, Switzerland, Dec. 5, 2019 /PRNewswire/ -- Firmenich, the world's largest privately-owned perfume and taste company, is proud to announce that it has been recognized for its exemplary leadership in sustainability with the first ever IMD-Pictet Sustainability in Family Business Award 2019. Selected out of 60 competitive applications, the jury of world-leading experts praised Firmenich for its comprehensive approach to sustainability, embedded in its growth strategy and values with an established track record of positive impact. The Group's proactive communications was applauded by the judges, for inspiring other companies to raise their standards in sustainability.
"On behalf of all the members of the Firmenich family, it is an honor for our company to be the inaugural winner of the IMD-Pictet Sustainability in Family Business Award," said Patrick Firmenich, Chairman of the Firmenich Board. "Since Firmenich was created in 1895, we have nurtured a unique legacy of responsible business: it's about doing what's right for our planet, communities and our business to thrive together."
"In a world where many companies and executives are wondering whether it is possible to do well (financially) by doing good (for the world), family enterprises such as Firmenich set a fantastic example to the rest of the corporate world as trailblazers in sustainability and real impact," said IMD President Jean-François Manzoni. "When sustainability is a core part of your organization's purpose and strategy, and becomes a part of your company's culture, the benefits in performance and broader impact speak for themselves."
"This award is a true tribute to my 8,000 colleagues, working as a force for good across our 100 markets with passion and dedication," said Gilbert Ghostine, CEO, Firmenich. "It is a strong endorsement of our results to date as champions and advocates of our inclusive capitalism business model, as well as a great encouragement to keep on raising the bar."
"Firmenich's sustainability credentials are exemplary and have been applauded by the judging panel as the company is actively delivering on its ambitious sustainability goals," said Rémy Best, managing partner of the Pictet Group. "Firmenich works with vigor and outstanding expertise to conduct its business in the most responsible way possible."
The jury recognized Firmenich for its outstanding sustainability strategy, with bold goals and demonstrated impact, such as its CDP triple 'A' ranking this year, one of only two companies worldwide out of 7,000. It also saluted the Group's innovation to tackle key societal challenges such as sanitation and nutrition. Scaling up its impact, Firmenich further stood out for its strategic partnerships across sectors, from customers and foundations to academic institutions.
With its inclusive capitalism business model, Firmenich is committed to creating long-term value for all its stakeholders, from its customers, colleagues and shareholders to its suppliers, communities and the planet.
Today it is actively addressing some of the world's greatest environmental and social challenges, from climate change and biodiversity to nutrition, sanitation and inequality.
Presented by the leading international business school IMD and Swiss bank Pictet, the award acknowledges family-owned enterprises with an international scope that embody excellence in sustainability and stand out in their efforts, performance and progress in the field. Family businesses are regarded among the most proactive in sustainability as they take a long-term approach to business. For more information on the awards, visit the website at: https://www.imd.org/gfbc/award/imd-pictet-award/family-business-sustainability-award/.
Firmenich is the world's largest privately-owned perfume and taste company, founded in Geneva, Switzerland, in 1895. Driven by its purpose to create positive emotions to enhance wellbeing, naturally, Firmenich has designed many of the world's best-known perfumes and tastes, bringing delight to over four billion consumers every day. Renowned for its world-class research and creativity, as well as its leadership in sustainability, each year, Firmenich invests 10% of its turnover in R&D to understand and share the best that nature has to offer responsibly. Firmenich had an annual turnover of 3.9 billion Swiss Francs at end June 2019. More information about Firmenich is available at www.firmenich.com.