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What is EcoVadis?
Founded in 2007, EcoVadis is one of the most comprehensive sustainability rating tools in the world, evaluating private and public companies according to their social, ethical and environmental impacts.
It operates as an evidence-based platform to ensure transparency across the supply chain, providing supplier sustainability ratings and allowing companies to assess their global suppliers through a paid assessment.
What is EcoVadis Certification ?
Companies can earn their own EcoVadis certification through a rigorous process that involves assessing their environmental performance against an extensive set of best practices.
They can also request their suppliers to undergo the EcoVadis assessment by sending them an invitation, after which they will receive notifications on the process and results.
EcoVadis certification covers a broad range and has defined 21 CSR criteria built and continuously updated based on international sustainability standards. These criteria are grouped into four pillars: Environment, Labor&Human Rights, Ethics and Sustainable Procurement.
Benefits from the EcoVadis solution
1. Boost sustainability performance.
Sustainable development is an emerging paradigm that has gained momentum in recent years.
It focuses on the sustainable use of natural resources, generation of renewable energy, conservation of biodiversity and improvement of human health.
By taking the EcoVadis assessment, companies and suppliers can show their clients how effective they are in meeting their needs and further improve their organization by learning and applying appropriate improvements and innovation.
2. Add value to products and services.
Implementing sustainability ratings will help businesses and manufacturers make better choices about the products and services they offer, which would ultimately lead to a positive impact not just on their company image but on our environment as well.
On top of that, a good sustainability rating adds value to products and services by providing consumers with information about their impact on the environment.
This can help them make informed decisions about their purchasing choices and the businesses they would like to support.
3. Industry benchmarking opportunities.
Companies can use sustainability ratings as a benchmark for their own operations, allowing them to identify opportunities for improvement or comparison with other businesses.
By benchmarking themselves against other companies in their niche market, they can see what kinds of changes are needed in order for them to stay competitive with their competitors. If possible, this can also encourage other companies in the same industry to adopt similar practices.
Consequently, this helps them to stay ahead of the competition and remain relevant in today’s world of commerce.
4. Retain customers and maintain brand integrity.
A sustainability rating ensures that the company is committed to sustainable business practices.
It also helps customers keep an eye on the environment and know how their purchases impact the environment.
Moreover, a high sustainability rating helps companies maintain brand integrity and build trust with consumers.
It can be a useful tool for developing a positive image as well as a key element in establishing a company’s position and value within its industry.
What are the score requirements and eligibility criteria for EcoVadis Medals?
The EcoVadis overall score (0-100) reflects the quality of the company’s sustainability management system at the time of the assessment.
The EcoVadis sustainability recognition levels are based on the percentile rank of your company’s EcoVadis score and a minimum theme score. The medals’ criteria are reviewed periodically.
The criteria for scorecards published from 1 January 2023 are as follows:
Platinum - top 1% (overall score between 78 and 100)
Gold - top 5% (overall score between 70 and 77)
Silver - top 25% (overall score between 59 and 69)
Bronze - top 50% (overall score between 50 and 58)
How long are the EcoVadis results valid for?
As sustainability standards, international regulations and customer expectations are constantly evolving, it is imperative that companies show continuous improvement by participating in regular sustainability assessments. To align with global best practice, EcoVadis sustainability scorecards are valid for twelve (12) months after the publication date. Expired scorecards cannot be shared with new requesting companies. After twelve (12) months from your last assessment, new sharing requests your company receives will trigger a reassessment process.
* Get in touch with AHEAD today:
Ms. My Hanh - 0935.516.518.
Ms. Hai Truong - 0986.077.845
* AHEAD Vietnam:
Hanoi: No. 18 Tam Trinh, Hai Ba Trung, Hanoi.
Danang: 498 Bui Trang Chuoc, Hoa Xuan Ward, Cam Le District, Da Nang City.
Hochiminh: 8/29 Hoang Hoa Tham, Ward 7, Binh Thanh District.
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