A guide to EcoVadis: Improving business sustainability credentials

EcoVadis is becoming the new standard for businesses who are actively seeking to represent their sustainability achievements.

What is EcoVadis and what does it mean for businesses?

EcoVadis is a globally recognised provider of business sustainability ratings. They have established a helpful platform that assists businesses in managing Environmental, Social, and Governance (ESG), compliance, and corporate sustainability objectives.

Their rigorous programme enables businesses to conduct strict integrity checks through a submission and review process, making them a trustworthy stamp of a business’s sustainability achievements. The accreditation process offers detailed assessments and insights to businesses, enabling them to enhance their sustainability performance and drive positive impact throughout their value chains.

What details do businesses need to provide to gain an EcoVadis accreditation?

To maintain reliability throughout the assessment process, businesses will need to submit a variety of information throughout the assessment process. To pass the accreditation, businesses must undergo a structured assessment that evaluates their sustainability practices across four key pillars: environment, labour and human rights, ethics and sustainable procurement.

What are the steps involved for the EcoVadis assessment?

By diligently completing the following steps and providing accurate information, businesses can achieve an EcoVadis accreditation and demonstrate their long-term commitment to responsible practices:

• Registration: Businesses will need to create a profile with key details such as industry, size and locations.

• Questionnaire: You will need to answer specific questions about policies, actions and reporting for sustainability of pillars.

• Supporting documentation: Businesses will need to provide documentation about policies, certifications, audits and metrics to help support the questionnaire. It is important to note that there is a cap on the number of documents allowed in this part of the submission process – so choose wisely.

• Analysis: Experts will review your submissions, assessing sustainability performance across 6–8 weeks process.

• Scorecard and feedback: Once you obtain your scores for each pillar, you will have access to insights for improvement in subsequent reporting.

What is the EcoVadis score?

The final score is determined by assessing the company’s policies, their implementation and the measurable results achieved. EcoVadis awards the following medals to the top 35% of assessed companies across industries based on their percentile rank over the past 12 months:

• Platinum: Top 1% (99+ percentile)
• Gold: Top 5% (95+ percentile)
• Silver: Top 15% (85+ percentile)
• Bronze: Top 35% (65+ percentile)
  

Can getting a great score be advantageous for businesses?

Achieving a strong EcoVadis score can greatly enhance a business’s sustainability profile, boosting credibility and reputation. As it is a third-party accreditation, it can really help showcase a business’s commitment to sustainability, fostering trust among stakeholders.

Firstly, it plays a crucial role in risk management by identifying areas for improvement to mitigate ESG-related risks. A solid EcoVadis score can help to significantly strengthen a business’s brand image and public perception, reinforcing its commitment to corporate responsibility. This enhanced reputation often leads to improved access to sustainability-focused funding and grants, opening new financial opportunities.

One of the most advantageous aspects of the EcoVadis assessment is that it provides actionable insights that enable continuous improvement, allowing businesses to benchmark their efforts against industry standards. A good EcoVadis score not only differentiates businesses in procurement but also opens new partnership opportunities and attracts sustainability-minded clients and investors.

What other certifications consider could businesses consider alongside EcoVadis?

Businesses can consider additional certifications and frameworks to help strengthen their EcoVadis assessment. Other useful certificates include Carbon Disclosure Project reporting (CDP), the Science-based Targets Initiative (SBTi), and Green House Gas reporting. These certifications and frameworks align with EcoVadis sustainability pillars and can help to demonstrate a business’s commitment to climate-focused initiatives.

How can Amber help?

At Amber, we’ve successfully supported clients in strengthening their environmental pillar for EcoVadis assessments. We can offer expert guidance to help you streamline your path to EcoVadis accreditation, if you want to know more about our approach please get in touch.