EcoVadis is the first and largest collaborative platform in the world for trading partners to share sustainability performance information.EcoVadis provides a holistic sustainability rating service of companies, delivered via a global cloud-based SaaS platform. The EcoVadis Rating covers a broad range of non-financial management systems including Environmental, Labor & Human Rights, Ethics, and Sustainable Procurement impacts.
EcoVadis combines technology and sustainability expertise to deliver simple and reliable supplier scorecards. Beyond the initial assessment, EcoVadis offers TfS members and its suppliers a platform to monitor continuous improvements of the sustainability practices along the supply chain.
Evolution of EcoVadis
- Year 2007: EcoVadis launches in Paris
- Year 2018: creates CyberVadis– a third-party cybersecurity risk assessment solution
- Year 2019: Launch of new EcoVadis solutions – Spotlight & IQ
Applicability (Which organizations can comply to Ecovadis ??)
- Manufacturing or Service Sectors, any other business units irrespective of nature of the business, size, and location.
Focus Points – EcoVadis –
- Labor & Human Rights
- Sustainable Product
- IQ Risk Mapping
Benefits of EcoVadis
- Understand your company’s sustainability performance with ratings
- Initiate to continuous improvement journey with annual reassessments
- Company’s sustainability performance share with multiple trading partners
- Set of tools to share sustainability performance outside the network
- Collaborative Tool for working with trading partners
- Recognition & Differentiation with Gold/ Silver/ Bronze badges and Certification.
EcoVadis – Implementation Process by PQSmitra
PQSmitra Team helps organizations to implement the requirements of EcoVadis in the most simple and systematic manner. The methodology of system implementation covers Initial review, planning followed by implementation, and documentation. PQSmitra Team offers active support and hand-holding to organizations to achieve successful system implementation and positive audit results. 100% documentation support is offered to expedite the implementation process. The implementation process is described below:
- Initial visit and Helping in Company Registration on EcoVadis
- Review of the existing system with respect to EcoVadis Questionnaires
- Gap analysis and planning for compliance
- Documentation including procedures, work instructions, etc.
- Submission of Documentations as per Questionnaires
- Assessment Rating
- Corrective Action on Observations