Increased demand from investors and shareholders for greater corporate disclosure and confirmation of regulatory performance has increased the level of attention on how organizations demonstrate their commitment towards Sustainability & ESG, Diversity and Inclusion. The growth in demand for business and supply chain transparency, positive societal changes, and a reduction in their environmental impact is being driven by legislation and consumer pressure.
Under such circumstances, the absence of proper ESG controls and the lack of a proper method to collate and track diversity information could lead to a prevalence of processes with negative externalities, in turn, giving rise to issues such as unethical work practices, forced labor, corruption, slavery, climate crisis, etc.
The Global Push Towards Sustainability, ESG, Diversity and Inclusion – Why Does it Matter?
The Global Push Towards Sustainability, ESG, Diversity and Inclusion – Why Does it Matter?
10% companies that fulfil the ESG criteria can enjoy an overall cost reduction of up to 10 percent.
Despite the global push to embed ESG measures into business strategy, 64% of organizations lack a proper sustainability program.
ESG regulatory requirements is one of the top 5 risks today for supply chain executives.
In Europe alone, 60% of companies are not aligned to sustainability strategies.
Companies with three or more women on the board outperform companies with all-male boards by 60% in return on invested capital, 84% in return on sales, and 60% in return on equity.
Among Fortune 500 companies, the ones with most women on their boards outperformed those with the least by 66% in return on invested capital, 42% in return on sales, and 53% in return on equity.
Depending on annual sales numbers, previous studies have put the ROI of a supplier diversity program as high as 133%.
Avetta One
An End-to-End Solution for Sustainability, ESG and Diversity Risk Mitigation
Get a holistic supply chain view to manage ESG and sustainability risks and perform diligence check across all supplier tiers.
Qualify suppliers through auto scored ESG evaluations based on a broad spectrum of universal standards such as VRF/SASB (Value Reporting Foundation), GRI (Global Reporting Initiative), and SDG (Sustainable Development Goals).
Leverage dynamic evaluations, based on supplier classification and specific client requirements.
Track your suppliers’ progress over time using incremental evaluations and take suggested actions to grow your suppliers’ ESG scores and sustainability programs.
Leverage detailed analytics to target areas of concern, highlight achievements, and facilitate better corporate reporting and ongoing development of sustainability and ESG performance.
The platform includes 25 diversity filters, that can be used to locate and connect with suppliers committed towards diversity and inclusion.
The Avetta Connect solution comes with pre-built prequalification forms (PQFs) that helps companies accurately track supplier diversity information such as minority ownership, veteran ownership, women ownership, disabled ownership, LGBT ownership, and small businesses.
Avetta One allows you to aggregate all the supplier prequalification data to generate analytics reports for decision-making.
Manage Risk for Any Supplier
With Avetta One, you get the opportunity to leverage a single unified platform for all supplier evaluations spanning health & safety, financial viability, sustainability & ESG, diversity & inclusion, cybersecurity, workforce risk and liability.
Why Avetta?
The Avetta SaaS platform helps clients manage supply chain risk, and their suppliers, to become more qualified for jobs. For the hiring clients in our network, we offer the world’s largest supply chain risk management network to manage supplier safety, sustainability, worker competency and performance. We perform contractor prequalification and worker competency management across major industries, all over the globe, including construction, energy, facilities, high tech, manufacturing, mining and telecom.
For suppliers in our network, our audit and verification services help lower their safety incidents rate by 29%. As a result, about 50% of members find additional job opportunities within the first year of joining. In addition, our suppliers receive privileged access to the Avetta Marketplace, where dozens of partners offer special discounts for business services like insurance and work gear. Avetta serves more than 500 enterprise companies and over 125,000 suppliers across 120+ countries.