News & Views
Taulia and EcoVadis partner
A new partnership between fintech Taulia (www.taulia.com) and one of the world’s most trusted provider of business sustainability ratings, EcoVadis (www.ecovadis.com) will allow businesses in any industry globally to identify the most responsible and sustainable suppliers while encouraging suppliers to improve ESG performance with financial incentives.
By connecting ESG ratings with low-cost early payments as a financial incentive, businesses can create alignment with suppliers to improve their ESG performance and behaviour continuously.
EcoVadis’ methodology uses seven management indicators across 21 sustainable criteria in four themes: environment, labour & human risks, ethics, and sustainable procurement. EcoVadis follows international sustainability standards such as the Ten Principles of UN Global Compact, the International Labour Organization conventions, and the UN Guiding Principles on Business and Human Rights.
“Until now, lack of transparency in supply chain reporting and comparability has been responsible for many ESG issues within businesses,” says Cedric Bru, CEO, Taulia. “However, now business leaders can build on their own proactive ESG efforts by encouraging suppliers and partners to report reliably, consistently, and comparably against globally recognized benchmarks.”
“The journey to sustainable resilience in value chains can be rapidly accelerated when motivations for trading partners are aligned to reliable performance benchmarks across the broadest possible range of companies,” adds Pierre-François Thaler, Co-CEO and Co-Founder, EcoVadis. “By connecting EcoVadis Sustainability Ratings to Taulia’s extensive financing offerings and global network, our collaboration brings tangible financial incentives to fruition to drive positive social and environmental impact at a global scale.”
Through this partnership Taulia is committing to help customers more easily evaluate the ESG metrics and credentials of trading partners and ultimately create a more sustainable world for future generations.