EcoVadis is a new performance analytics startup that has announced a new Environment, Society and Governance (ESG) initiative. The company evaluates and ranks companies on the ESG scale based on their impact on the environment and society as a whole. This is a very complex process, EcoVadis says, as the company uses a deep methodology that evaluates more than 28 data points to determine the company’s true impact.
EcoVadis currently has around 90,000 companies in its database. However, EcoVadis co-CEO Pierre-François Thaler said there were more than two million active companies in the supply chains of leading Fortune2000 companies. In the coming years, EcoVadis hopes to scale the ESG of each of these two million companies to increase reputation, transparency, and push many supply chains for positive change.
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