New Offering Builds on EcoVadis’ Trusted Sustainability Intelligence Suite, Empowering Procurement and Compliance Teams to Drive Resilience & Streamline Reporting Requirements
EcoVadis, the leading sustainability intelligence platform for global supply chains, today announces it has added a Corporate Sustainability Reporting Directive (CSRD) questionnaire to its risk and sustainability management solution suite. This includes its market-leading AI-powered risk management platform IQ Plus and the light Vitals questionnaire, and works seamlessly with EcoVadis Ratings.
An estimated 50,000 companies must comply with CSRD requirements, and it’s not just European companies. According to The Wall Street Journal, there are 10,000 companies, including U.S. companies operating in the EU or selling to EU-based customers, who must comply starting this year. These companies are required to disclose on their own operations and value chain impacts, risks, and opportunities. However, collecting and analyzing this data can strain team bandwidth, especially when it comes to engaging suppliers. Many suppliers are unfamiliar with the requirements of the CSRD, are new to sustainability, or have internal resource constraints.
The new CSRD questionnaire is free for suppliers, empowering customers to address this complex disclosure challenge. The questionnaire covers all mandatory supply chain data that requires direct supplier input and aligns to the European Sustainability Reporting Standards (ESRS) requirements. Procurement and compliance teams can use the questionnaire to easily engage suppliers, aggregate their supply chain data from across their EcoVadis solutions, and generate an audit-ready CSRD report based on trusted data. The new CSRD questionnaire lowers the barriers to disclosure, helping users comply with confidence.
“Thousands of companies are required to report on sustainability data that include environmental factors like greenhouse gas emissions, water usage and biodiversity impact, as well as social aspects like workforce diversity and labor standards. Those who fall behind on regulatory disclosure risk facing financial, reputational and competitive losses to those who get it right,” said Pierre-Francois Thaler, co-founder and co-CEO at EcoVadis. “The CSRD questionnaire is a right-fit regulatory tool that is part of a powerful due diligence foundation for companies of any size, and at any stage in their sustainability journey, to help them keep pace with complex disclosure requirements.”
The CSRD questionnaire and report were developed in close collaboration with EcoVadis customers to best support their disclosure needs. The CSRD questionnaire is a paid add-on, available to enterprise procurement teams using IQ Plus with Vitals. Buyers can invite suppliers to complete the questionnaire, free of charge. The CSRD report automatically aggregates and analyzes supply chain data from across the users’ EcoVadis solutions including the CSRD questionnaire, IQ Plus, Ratings, Academy, and more. Users can then easily share their findings with audit-ready exports that cover all material ESRS topics.
“Working with EcoVadis has put us in a good position to cover our CSRD supply chain topics,” said Rhea Horlock, Global Corporate Social Responsibility Lead, Kinly. “As our suppliers are shaping their CSRD requirements, they know to come to us.”
For more information about how your organization can start using the CSRD questionnaire to simplify your reporting requirements, visit: https://ecovadis.com/solutions/iq/vitals/.
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