EcoVadis is a global sustainability rating platform which aims to improve supply chain transparency between buyers and their suppliers. Over 55.000 companies across 155 countries have so far undergone the assessment to improve and integrate sustainability along their value chain.
At their annual flagship event Sustain which took place in Paris in March 2019, EcoVadis introduced the launch of their expanded product toolkit: the EcoVadis Sustainability Intelligence Suite. This toolkit comprises additional features including predictive risk mapping, performance signals and audit management.
To facilitate the evaluation and management of supplier risk across the entire supply base, EcoVadis customers will soon be able to benefit from EcoVadis IQ, the new risk mapping tool available later this year. Based on the extensive EcoVadis database, this tool continuously screens the supply chain and maps a company’s supplier risk across all key sustainability criteria. Especially procurement, risk and compliance teams will be able to leverage these insights to inform their strategy.
With EcoVadis’ core offering EcoVadis Ratings, suppliers will be able to systematically assess their own suppliers based on four themes of environment, fair labour and human rights, business ethics and sustainable procurement. Procurement teams can observe their suppliers’ performance in form of easy-to-use sustainability scorecards which will facilitate the benchmarking, capacity building and supplier engagement process.
With the help of the new on-site audit management platform, EcoVadis Spotlight, audit processes will from now on be integrated into the EcoVadis platform. Audit data collection will be able to be coordinated via the platform and standard templates as well as corrective action plans will be provided for major audit providers. Sustainability teams can now easily run reports, share performance data and manage improvements in direct exchange with their suppliers within the platform.
As an official EcoVadis partner, DFGE – Institute for Energy, Ecology and Environment has helped more than 40 companies worldwide to improve their sustainability performance and therefore their EcoVadis score. With in-depth value chain analyses and step-by-step instructions on how set up a sustainability management system, we aim to help businesses to instill sustainability within as well as beyond their operations. If you need help with your sustainability management system or EcoVadis score, please contact Judith Ruppert or visit our website on https://dfge.de/en/ecovadis.