The eruption of the COVID-19 pandemic created a whirlwind that threw the global economy in…
Along with the challenges brought by the climate change and the necessity for companies to reduce drastically their environmental impact, monitoring the efficiency of their actions in regard to sustainable policies has become CEOs’ major concern. In these circumstances, companies such as EcoVadis are making a move in order to create a regulatory framework that maps a company’s achievements regarding CSR (Corporate Social Responsibility), and compares it to the other actors within its industry.
What is the Ecovadis rating?
Created in 2007, EcoVadis is considered as the world reference in its field with a network made of 75000 suppliers located in 160 countries and covering 200 different industries. It includes international corporations that desire to evaluate and improve their CSR policy.
Acting entirely independently, the structure is in charge of evaluating 21 indicators through 4 axis:
- Social and Human Rights
- Responsible purchasing
From these indicators, Ecovadis manages to establish a global score ranging from 0 to 100, reflecting the quality of CSR actions and strategies. The score are then ranked into levels, and each level is presented with a medal that allows the applicant to display publicly the emphasis it gives to its CSR policy. This medal is valid for 12 months from the publishing date.
The four levels:
|Platinum||Top 1%||Global score higher than 73/100|
|Gold||Top 5%||Global score between 66/100 and 72/100|
|Silver||Top 25%||Global score between 54/100 and 65/100|
|Bronze||Top 50%||Global score between 45/100 and 53/100|
Which impact for companies?
The EcoVadis represents a trump card for companies that wish to value their environmental commitments. The environmental issue is for a vast majority of companies a central topic when it comes to choose a partner, and this internationally recognized label is a proof of the work that has been accomplished.
It is an indicator that not only brings value to the companies in front of their clients, but also monitor every year the efficiency of the decisions and strategies. Internally it offers the opportunity to draw the trajectory of the coming sustainable transition, and externally to work with collaborators on the improvement of social and environmental performance
This room for maneuver give to companies the possibilities to reorganize their supply chains, creating a virtuous cycle that favors and encourages proactive policies.
Who are we?
Certified EcoVadis Gold, OTEGO works hard to improve its social and environmental footprint in order to stay the forefront of the ecological transition in the field of technical textiles.