EcoVadis, the world’s most trusted provider of business sustainability ratings, today announces the general availability of its Carbon Action Module. Carbon Action Module is a comprehensive solution that empowers organizations to drive climate action at scale by engaging their value chain trading partners in a decarbonization journey. The first public demonstration of the solution is taking place today at the EcoVadis Sustain 2021 virtual conference.
Corporate action is an essential lever in combating climate change. Thousands of companies are deepening commitments and stepping up to science-based targets to reduce emissions, helping to keep the 1.5C goal of the Paris Agreement from “slipping out of reach.” One of the greatest challenges for corporations is that 70-80 percent of their emissions occur upstream and downstream in their value chains (CDP). The supply chain represents the greatest lever to make a real impact. Further, recent research from EcoVadis shows there is a massive shortfall in supplier carbon reporting and action across the supply chain.
The Carbon Action Module empowers EcoVadis customers to collect and analyze critical data points, optimize strategy, and collaborate with their value chain partners to measure and cut emissions to meet corporate commitments and science-based targets, and align with industry and global goals. Key functionalities of the new solution include:
- Carbon Ratings & Scorecards: All value chain trading partners who complete the EcoVadis Rating process will get a carbon rating and scorecard. Suppliers will get a detailed view of their carbon management capability, while buyers who are subscribed to the Carbon Action Module will get a shared view of supplier scorecards and performance. This enables enterprises to understand the carbon maturity of their suppliers and inform engagement strategy to maximize GHG emission reduction potential.
- Enhanced Metrics Reporting: Expands the data collection tools required to capture the depth and breadth needed for effective climate action.
- Enriched Dashboard: Buyers will be able to search, filter and sort their portfolio of rated trading partners by carbon scorecard criteria.
- Improvement Plans: Enhancements to the collaborative improvement plan tool to monitor decarbonization journey.
Additional components that will become available in the Carbon Action Module over the coming months include:
- E-learning: Built on a powerful new learning management system with rich media and features for tracking learner progress. Carbon/GHG emissions will be the first course topic to launch to help suppliers build capacity.
- Carbon Calculator: Enables rated organizations to measure both their direct and indirect GHG emissions.
- Analytics & Reporting: Enriched carbon insights for a more effective decarbonization journey.
“Our customers and their peers are realizing that value chain action is essential in reaching the scale of reductions needed for planetary survival. As climate change continues to be a detrimental threat to society and economies, investment in supply chain sustainability and emissions reduction is critical now more than ever,” said Pierre-Francois Thaler, co-CEO of EcoVadis. “Our new Carbon Action Module empowers organizations, including small and medium sized businesses, with the tools and intelligence they need to meet these challenges head-on by creating both transparency and real change through supply chain action.”
The Carbon Action Module is the next step in EcoVadis’ vision to help global organizations improve sustainability outcomes and mitigate risk. Examples of how EcoVadis’ ratings and intelligence can influence positive actions across commercial relationships can be found in the EcoVadis Network Impact Report.
“The Carbon Action Module taps into and extends the technology, data and network that we have been refining for over 14 years in our Sustainability Intelligence Suite. The solution gives our customers a huge head start to accelerate their journey toward a low carbon future via engagement with their value chain partners,” said Frédéric Trinel, co-CEO of EcoVadis. “We’ve selected and integrated best-of-breed technology to deliver a rich set of management indicators and tools that help suppliers more accurately calculate and report on emissions, while enabling buyers to better track their GHG reduction strategies.”
EcoVadis is the world’s most trusted provider of business sustainability ratings, intelligence and collaborative performance improvement tools for global supply chains. Backed by a powerful technology platform and a global team of domain experts, EcoVadis’ easy-to-use and actionable sustainability scorecards provide detailed insight into environmental, social and ethical risks across 200 purchasing categories and 160 countries. Industry leaders such as Johnson & Johnson, Verizon, L’Oréal, Subway, Nestlé, Salesforce, Michelin and BASF are among the more than 75,000 businesses on the EcoVadis network, all working with a single methodology to evaluate, collaborate and improve sustainability performance in order to protect their brands, foster transparency and innovation, and accelerate growth. Learn more on ecovadis.com, Twitter or LinkedIn.