Impact-Assessing Initiatives

'EcoVadis' is a new performance-analyzing startup that has announced a new environmental, societal and governance (ESG) initiative. The company assesses and ranks the ESG score of companies based on their impacts to the environment and to society as a whole. According to EcoVadis, this is a very difficult process as the company uses an in-depth methodology that judges more than 28 points of data to determine the true impact of a company.

Currently, EcoVadis has scored approximately 90,000 companies on its database. However, EcoVadis' co-CEO, Pierre-Francois Thaler, stated that in the supply chains for the top Fortune2000 companies there are more than two million active companies. In the coming years, EcoVadis hopes to determine the ESG scale of each of these two million companies to increase reputation, transparency, and to push the many supply chains toward positive change.

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