Business sustainability rating provider EcoVadis has published a report on the sustainable business practices being adopted by 100,000+ companies with a sustainability rating in its network.
Companies such as Epson, Ring Container Technologies and SKF have previously been rated on key metrics quantifying the positive social and environmental outcomes of their efforts on sustainability. Insights from this have been mapped across EcoVadis’ model for generating impact and revealed in the sustainability ratings provider’s third annual Network Impact Report.
There are currently nearly 1,000 enterprise customers using the EcoVadis platform to manage their value chain sustainability, expanding the total global procurement spend covered by EcoVadis Ratings to more than $2.6 trillion (£2.14 trn).
This edition of the Network Impact Report demonstrates EcoVadis’ efforts to enable companies to collaborate closely with their trading partners on sustainability, to build transparency, and scale positive impact throughout value chains.
The Impact Model consists of three phases:
- Phase 1: Multinational buyers and private equity firms invite trading partners to be rated by EcoVadis and receive a scorecard of their results.
- Phase 2: Rated companies use their scorecard and the EcoVadis platform to improve their ESG management systems and adopt sustainable best practices.
- Phase 3: Companies track and report the outcomes of this process, helping both requesting and rated companies fine-tune their approach and scale their efforts.
“Businesses understand that despite ongoing supply chain, macro-economic and regulatory challenges, transforming commitments into immediate action is crucial for long-term resilience and success,” said Pierre-François Thaler, co-founder and co-CEO of EcoVadis.
“The acceleration in positive actions across our network shows how our customers are extending beyond their risk and compliance foundations to make progress toward positively impacting society and the planet.”
EcoVadis published 40,000 scorecards in 2022, of which 48% were for companies new to the network. In total, the number of companies rated by EcoVadis is 107,000, representing more than 90 million workers across global supply chains. EcoVadis has collected nearly 14 million data points on the performance of its network across 38 key sustainability metrics.
This edition of the Network Impact Report found:
- 2,653 companies implemented reuse/recycling actions (25% increase over 2021)
- 1,422 companies implemented water recycling actions (124% increase over 2021)
- 5,779 companies provided personal protective equipment (53% increase over 2021)
- 4,588 companies trained employees on health and safety (65% increase over 2021)
Diversity, Equity & Inclusion:
- 13,483 companies developed policies on diversity, equity, and inclusion (updated in 2021)
- 3,237 companies implemented actions to promote diversity (39% increase over 2021)
- 10,482 companies implemented policies on energy and GHG emissions (updated in 2021)
- 5,244 companies reported on energy consumption (44% increase over 2021) and 4,389 companies reported on GHG emissions (56% increase over 2021).
A link to the full report can be found here.
