Going beyond compliance: The benefits of EcoVadis rating for sustainability, reputation, and competitive advantage

Why to consider getting assessed

It is important to note that it is better to start with building your ESG strategy first, and lay the foundations of  sustainability reporting according to ESRS. This will allow your company to make the screening and complete some basic policies, measurements, KPIs. Then, the company will be much more prepared to pass EcoVadis assessment and to have necessary evidence documents.

Getting an EcoVadis rating is beneficial to show a guarantee of sustainability to your stakeholders.

There is even more to it

Other than these very business-oriented reasons, EcoVadis can also create three additional benefits:

• Enhanced reputation: EcoVadis is internationally recognized and allows a company to demonstrate its commitment to sustainability, ethics, and social responsibility. This assessment can help strengthen a company's reputation with stakeholders, including customers, suppliers and investors.
• Competitive advantage: EcoVadis-rated companies have a competitive advantage over those that are not certified, as they are seen as more responsible and sustainable. Customers or investors, especially those who are concerned about environmental and social issues, are more likely to choose a company that underwent EcoVadis assessment process.
• Improved performance: The EcoVadis assessment process allows companies to better understand the risks and opportunities associated with ESG. Upon completing a complex set of questions, the company receives a detailed assessment of its sustainability performance, which can help identify areas for improvement. This assessment can also be used as a tracking tool to measure progress over time.

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