Many Multi-National Corporations (MNCs) have policy that they prefer to work with partners who are EcoVadis rated; there are even some MNCs that specify that only suppliers with a certain EcoVadis scorecard can be considered to be their globally appointed suppliers or business partners.
EcoVadis is a system for evaluating companies’ sustainability practices based on the companies’ performances in 4 key areas:
2. Labour and Human Rights
4. Sustainable Procurement
An audit will be conducted by the EcoVadis audit team on the companies annually, whereby scorecards are awarded to each audited company, detailing how it has fared in their business sustainability practices.
One highlight of this EcoVadis scorecard is that it indicates a company’s sustainability performance in comparison with all other companies as well. This has enabled convenient benchmarking of the audited companies.
The overall score (0-100) of the EcoVadis report indicates the quality of the organisation’s sustainability management system.
The latest criteria and recognition levels are as shown below:
73 - 100
66 - 72
54 - 65
45 - 53
*Info retrieved from EcoVadis website:
Sustainability has been a hot topic in the global business community. Be it sustainable business ethics and practices such as Anti-Corruption and Anit-Bribery policies, Fair Employment Policies, or Corporate Social Responsibility, corporations want to work with suppliers and partners who have proven to be engaging in Sustainable business practices.
With the globalisation of worldwide economy, enterprises have dealings with increasing number of overseas suppliers and partners. Supply chain management is getting more challenging. Validating suppliers is a tedious and cumbersome process, requiring much time, effort, manpower, and not forgetting the constant monitoring as well!
EcoVadis provides a one-stop outsourced management platform for sustainability assessments of trading partners. Initially, it was mainly used by large MNCs. Over the years, EcoVadis has expanded to include over 75,000 companies in 200 industries across 160 countries. As such, it has become a trusted sustainability rating platform across the globe.
-You do not have to carry out the audit on your own, saving on manpower costs and efforts. The audits will be done by the accredited EcoVadis team impartially.
-The EcoVadis rating is done on a yearly basis, enabling you to manage suppliers’ performances easily, strengthening your corporation’s supply chain management.
- EcoVadis has become synonyms with words such as Sustainability, Corporate Social Responsibility. Working with best performing EcoVadis rated suppliers will uplift your corporation’s image, giving customers confidence in your products and services.
At DTC, sustainability is a philosophy of doing business. We position ourselves as the leading sustainability-focused corporate gifts & premium supplier. We believe that our standards and practices play a big role in holding our stakeholders and ourselves responsible for our sustainability practices throughout our business activities.
Contact us today to embark on a sustainable journey for your company’s procurement and marketing projects!
Click here to learn about Sustainability at DTC!
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