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What is an EcoVadis assessment?

What is an EcoVadis assessment?

Source: https://ecovadis.com/

Monitoring the sustainability practices of hundreds of suppliers in different geographies and sectors can be overwhelming. This is made more accessible with EcoVadis, an evidence-based online platform. EcoVadis is the world’s most trusted provider of business sustainability ratings. It assesses companies and their global suppliers’ ESG performance, thus helping them reduce risks & costs and uncover new opportunities. The Ecovadis sustainability rating methodology is based on seven founding principles:

  1. Evidence-based
  2. Industry, location and size matter
  3. Diversification of sources
  4. Technology is a must
  5. Assessment by international sustainability experts
  6. Traceability and transparency
  7. Excellence through continuous improvement

The company receives a customized online questionnaire based on its industry, size, and country of operation. The assessment has seven management indicators: Policies, Endorsements, Measures, Certifications, Coverage, Reporting and 360-degree watch findings. These indicators are measured across 21 sustainability criteria in four themes: Environment, Labour and Human Rights, Ethics and Sustainable Procurement. The criteria include energy, water, biodiversity, etc., under the Environment theme; employee health and safety under Labor and Human Rights theme; corruption, anti-competitive practices, etc., under the Ethics theme; supplier environmental and social practices under the Sustainable procurement theme.

In a nutshell, the objective of the rating is to measure the quality of a company’s sustainability management system through its policies, actions, and results based on PDCA (plan-do-check-act) cycle and improve the business as well as remain compliant with legal requirements.

SAGE Sustainability provides support and consultation on EcoVadis assessment. If you need to understand the assessment better, reach out to contact@sagesustainability.in

References:

  1. https://ecovadis.com/
  2. https://support.ecovadis.com/hc/en-us/articles/115002653188-What-is-the-EcoVadis-assessment-process-#:~:text=The%20EcoVadis%20sustainability%20assessment%20is,questionnaire%2C%20expert%20analysis%20and%20results.
  3. https://support.ecovadis.com/hc/en-us/articles/115002531307-What-is-EcoVadis-
  4. https://www.sustainalize.com/news/ecovadis-in-a-nutshell-answers-on-most-frequently-asked-questions/