Build Credibility with EcoVadis Ratings

What is EcoVadis?

Established in 2007, EcoVadis is a leading sustainability ratings platform. It evaluates businesses on their ESG performance. So, it assesses organisations based on their sustainability maturity determined based on four themes of environment, labour & human rights, ethics, and sustainable procurement. Companies have to respond to the EcoVadis questionnaire providing information on their policies, processes, certifications, initiatives etc. and provide documentation as proof for the same.

Why EcoVadis Sustainability Ratings Matter?

There are rising expectations from investors and customers to prove responsible operations among the companies. Earning quality EcoVadis certification and ratings can help companies improve and subsequently showcase their efforts in this regard. EcoVadis gives companies a score between 0 to 100 based on their sustainability maturity. EcoVadis is utilised extensively by companies with large supply chains to determine the sustainability maturity of all their suppliers. Some of the companies then set score targets for their suppliers.

Core Principles Behind EcoVadis Assessments

Components: EcoVadis ratings are built on four core themes: 

- Environment 
- Labour and Human Rights 
- Ethics 
- Sustainable Procurement 

These are aligned with international frameworks like UN Global Compact, the Global Reporting Initiative (GRI) and ISO 26000. Belonging to the category of non-financial themes, they are further broken down into 21 specific sustainability criteria. 

The EcoVadis ratings range from 0 to 100. These are specific to the company’s industry, size and location, making them fair and comparable across diverse sectors.

Our Approach to EcoVadis Services

Oren offers a structured framework to help businesses navigate their EcoVadis assessment process and achieve meaningful improvements in their ESG performance: 

‍Gap Analysis: Our sustainability consultants begin with the identification of gaps in existing ESG practices based on the requirements of the EcoVadis assesment. Sometimes companies need a specific EcoVadis score or bronze/silver/gold/platinum medals, then the gap assessment is done in alignment with that. 

‍Implementation Roadmap: Based on the gap assessment, an implementation roadmap is developed along with timelines and effort alignment. 

‍Policy Updates: Our sustainability consultants update company policies to align with EcoVadis requirements or develop new policies when they are missing. EcoVadis has specific guidelines for most policies like Business Ethics Policy, Environment Policy, Human Rights Policy, Sustainable Procurement Policy to name a few. Compnies can also use Oren Sustainability Hub’s AI Policy Developer for this purpose. 

‍Materiality Assessment: If it hasn’t been conducted already, our sustainability consultants support the company in the end-to-end execution of their materiality assessment. 

‍Sustainability Report and Other Documentation: EcoVadis mandates that documents are provided along with each questionnaire response as proof. Our sustainability consultants supports companies in development and validation of these documents. We also support companies in creating sustainability reports using Oren Sustainability Hub that support the documentation requirement of EcoVadis. 

‍Supplier Assessment & Training: Our sustainability consultants conducts supply chain sustainability assessmentsn using the Oren Sustainability Hub and provide training to enhance supplier sustainability practices.  Suppliers are also trained on the company’s supply chain sustainability programs and supplier code of conduct. 

‍Train the Teams on EcoVadis Assessment: Our sustainability consultants conducts internal training programs to understand methodology, manage submissions and implement corrective action plans. 

‍End-to-end EcoVadis Questionnaire Filling Support: Our sustainability consultants support in the end-to-end filling out of the EcoVadis assessment.

How Oren Strengthens Your EcoVadis Rating?

With Oren, you gain a strategic partner to guide your journey toward higher EcoVadis scores and stronger sustainability credentials. Have a glimpse into our method of working to relate it to your practices: 

- Scope definition: Set clear priorities and timelines, and finalise the assessment scope. 
- Gap analysis: Review existing sustainability practices to spot weak areas. 
- Scorecard review: Compare performance against EcoVadis standards and identify gaps. 
- Corrective actions: Verify and guide policy, process, certification, initiative etc. improvements. 
- Reporting: Provide practical insights to help raise EcoVadis scores. 
- Documentation development: Development of documentation such that it is accepted by EcoVadis.
- Industry best practices: Bring in insights based on what leaders in your industry are doing.
- Alignment with ESG strategy: Ensure alignment of EcoVadis submission with your overarching ESG strategy.

EcoVadis & ESG Rating Framework

EcoVadis is not a framework but a sustainability rating platform. It leverages leading global ESG frameworks and standards to evaluate company performance. It is based on global standards like GRI, SASB, UNGC, ISO 26000, OECD and ILO.  Hence, EcoVadis serves as a practical tool for businesses to benchmark and demonstrate ESG performance using recognised frameworks.

ESG Frameworks vs EcoVadis

ESG frameworks set the guidelines, while EcoVadis applies them in practice. The latter creates a structured methodology to assess how well companies manage sustainability risks and opportunities. Companies are expected to fill out the Ecovadis questionnaire on the EcoVadis website along with documentation as proof. The EcoVadis analyst then verify the responses and provide a score between 0 to 100.

EcoVadis Rating Method

EcoVadis delivers its evaluation into a comparable score ranging from 0 to 100. It is measured across four key themes: environment, labour and human rights, ethics and sustainable procurement. The scoring makes it easier for businesses, suppliers and procurement leaders to benchmark performance, identify gaps and track progress over time. Incorrect responses to the questionnaire and documentations also get rejected by the team of EcoVadis’ analysts. EcoVadis also conducts a 360 degree watch analysis on the company to assess if there is any negative or positive news about them.

Best Practices for Achieving a High EcoVadis Score

Achieving a high EcoVadis score is possible through focus on the following aspects:

Policy & Documentation

Develop clear and comprehensive policies for ESG practices. Ensure their proper formalisation, updating and linking to measurable actions and goals. Further, structure the evidence around policies, actions and results for the relevant sustainability theme. There should be clear communication on the coverage, grievance mechanism, governing body etc. in the policy. The documents that are credible, relevant, and directly address the EcoVadis criteria are necessary to be framed. These documents should also carry the stamp of the company and the signature of the implementation authority.

Global Standards Alignment

Align the sustainability initiatives with international frameworks such as BRSR, GRI, SASB, UNGC and ISO 26000 to achieve a high EcoVadis score. It works by demonstrating that the company’s practices meet global recognised benchmarks.

Regular Monitoring & Updates

Establishing continuous improvement procedures, involving:
- Conducting gap analysis
- Creating a detailed action plan accordingly
- Implementing measurable KPIs and policies across the four pillars
- Reviewing scorecards regularly to track progress

Cross-Functional Collaboration

Achieve this through the establishment of clear and common goals and a centralised platform such as Oren Sustainability Hub for communication and knowledge sharing. Engage teams across HR, procurement, compliance and operations to ensure the following of ESG practices in every business function.

Supplier Engagement

Developing and engaging suppliers on your supply chain sustainability program helps attain a high EcoVadis score. If required, train and collaborate with suppliers to ensure sustainable practices that align with your strategy. Utilizing award-winning platforms like Oren Sustainability Hub to roll-out supplier assessment, conduct performance benchmarking on ESG parameters amongst suppliers and development of Supply Chain Sustainability report further helps increase the EcoVadis score.

Sustainability Report

Provide accurate and evidence-based data while communicating results openly. Creating a sustainability report boosts the EcoVadis rating. Using award-winning ESG softwares such as Oren Sustainability Hub for automation of data collection and streamlining reporting helps create a single source of truth for all ESG data. Also, include third-party audits and certifications.

Why Choose Oren for Your EcoVadis Services?

Partnering with Oren means gaining a trusted advisor who simplifies the EcoVadis assessment process. Oren brings in the award-winning ESG technology platform, Oren Sustainability Hub and a team of trusted sustainability consultants who have supported hundreds of companies through their EcoVadis journey.

- Achieve excellence in the EcoVadis score: We help companies close gaps, align with EcoVadis criteria and improve across all four themes.
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- Award-winning technology: Our platform, Oren Sustainability Hub help companies measure, track and improve their key ESG metrics in real-time. Companies can also create sustainaility reports that can be used as documentaiton for the EcoVadis assessment. The platform also offers AI policy developer that creates EcoVadis aligned policies.
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- End-to-end handholding: Oren’s team of sustainability consultants support companies end-to-end from identifying and understanding gaps in their current practices against the requirments of EcoVadis all the way to filling out the EcoVadis assessment.
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- Strategic improvement: Oren guides companies with actionable steps to enhance policies, processes and reporting. We ensure meaningful progress in sustainability practices that aligns with the companies’ long-term ESG strategy and isn’t just a tick-in-the-box activity for the EcoVadis assessment.
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- ESG leadership: Strong EcoVadis ratings demonstrate credibility and build trust with stakeholders. So, you are at a better chance of positioning your business as a leader in responsible practices.
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- Real-time EcoVadis performance benchmarking: With Oren, companies can track and compare their EcoVadis performance against industry peers. This enables continuous improvement and competitive advantage.