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EcoVadis is a leading provider of corporate sustainability ratings and information. Its methodology is based on international sustainability standards such as the Global Reporting Initiative (GRI), the United Nations Global Compact (UNGC) and ISO 26000. As of 2023, EcoVadis has a network of over 130,000 rated companies across more than 200 purchasing categories and 180 countries. Major corporations and other organisations use EcoVadis ratings to monitor and manage sustainability risks in their supply chains, drive improvements and make more informed business decisions.
An EcoVadis rating gives you a better understanding of your organisation’s sustainability management system, helping you to identify your strengths and weaknesses in areas such as environmental impact, labour and human rights, ethics and procurement. A positive assessment result – benchmarking your sustainability performance against industry peers – can also improve your chances of being selected as a preferred supplier. In addition, an assessment can increase stakeholder trust and legitimacy in industry networks by facilitating greater transparency.
As an organisation, you may be asked by a supplier to carry out an EcoVadis assessment, or you may decide to conduct one yourself. In both cases, you must first register online via the EcoVadis portal. EcoVadis then assigns you an industry-specific questionnaire covering your environmental, social and ethical impacts. This requires the submission of various supporting documents. The information you provided is then analysed by EcoVadis to produce a scorecard. This takes between 6 and 8 weeks on average, and the scorecards – which can be shared with suppliers – are valid for 12 months.
The EcoVadis model brings benefits to both buyers and suppliers. It gives rated companies a better understanding of their sustainability management system and allows them to benchmark their performance against industry peers. It’s also easy to share scores with third parties, facilitating access to capital, customers and talent. For buyers, the benefits include increased supply chain visibility – making sustainability assessments more cost-effective and supplier engagement programmes more efficient. This can help provide a solid basis for participation in industry networks.